Confirmed: Former Microsoft CEO Steve Ballmer buys the LA Clippers for $2 billionWritten by Ron on May 29, 2014 - 04:17PM @ronwinbeta
It's official - former Microsoft CEO Steve Ballmer has purchased the LA Clippers, a basketball team in the NBA. Ballmer's offer of $2 billion set a new record price for an NBA team. Ballmer, who is 58 years old, left Microsoft this past February and has a net worth of $20 billion.
A few days ago, we reported that former CEO of Microsoft Steve Ballmer was in talks with the wife of the owner of NBA's Los Angeles Clippers basketball team. Donald Sterling purchased the team in June, 1981, for $12.5 million. Sterling was involved in a controversy in which he was caught insulting African-Americans in a secret audio recording, prompting the need to find a new owner of the basketball team as a result.
Donald Sterling's wife, Shelly Sterling, had taken the lead in running the sale of the team. Forbes reported earlier today that Ballmer had offered $1.8 billion to acquire the Los Angeles Clippers. Now clearly that offer was bumped to $2 million.
This deal is apparently tentative, according to the LATimes, as Donald Sterling must give his blessing in order to finalize the deal. Twenty-nine other NBA owners need to offer their approval as well, but that shouldn't be a problem as long as Ballmer reaffirms his commitment of keeping the Clippers in Los Angeles.
Update: TMZ is stating otherwise. According to TMZ, no deal has been made and Shelly Sterling is currently reviewing documents. A deal is expected to be finalized by tomorrow, with Ballmer in the running.
Update 2: ESPN is contradicting TMZ and is confirming that Ballmer has indeed signed an agreement. "The Sterling family trust has signed an agreement to sell the Los Angeles Clippers to former Microsoft chief executive Steve Ballmer for $2 billion, sources tell ESPN.com's Ramona Shelburne. The agreement is going straight to the NBA for final approval and does not require additional approval from banned Clippers owner Donald Sterling, according to sources."