Dejected and demoralized, especially after team owner Donald Sterling’s racist remarks became public late last month, members of the embattled Los Angeles Clippers finally have something to forward to. After a blind bidding process between three groups of investors, the Clippers organization and those with knowledge of the negotiations unofficially declared Steve Ballmer to be Los Angeles Clippers’ new owner.
With an offer worth $2 billion USD, Ballmer outbid investors Tony Ressler and Bruce Karsh, who submitted a $1.2 billion offer, and media mogul David Geffen, who with his partners at the Guggenheim Group, put up an offer of $1.6 billion. Retired as the CEO of Microsoft this past February, Ballmer has a personal wealth of $20.7 billion and ranks #32 on Forbes 400 Richest Americans list. As reported by the Los Angeles Times, Ballmer’s deal sets the record as the most expensive purchase for a NBA franchise in the league’s history.
