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Friday, May 30, 2014
Steve Ballmer to Buy LA Clippers For USD 2 Billion: report


Former Microsoft chief Steve Ballmer will buy the Los Angeles Clippers for $2 billion, according to Shelly Sterling, wife of the current team owner Donald Sterling.

According to the Wall Street Journal, Ms. Sterling has already signed a binding contract for the sale. She and Mr. Sterling each owns half of the team through a trust they share.

However, Mr. Sterling's attorney told the WSJ that Mr. Sterling hadn't yet decided whether he would sell the team or fight to keep it.

Ms. Sterling received four offers for the franchise, including a $1.6 billion bid from entertainment mogul David Geffen, Oprah Winfrey and Laurene Powell Jobs, the wife of late Apple co-founder Steve Jobs. There was also a $1.2 billion offer from billionaires Antony Ressler and Bruce Karsh, who were joined by former NBA star Grant Hill.

Steve Ballmer, who owns Microsoft stock valued at more than $13 billion, stepped down as Microsoft CEO in February.




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