Report: Steve Ballmer bids $1.8 billion for Clippers; NBA may fast track sale
May 29, 2014, 1:16 PM | Updated: 2:38 pm
Former Microsoft CEO Steve Ballmer has reportedly put in a $1.8 billion bid for the Los Angeles Clippers. (AP photo)
(AP photo)
Former Microsoft CEO Steve Ballmer has reportedly put in a $1.8 billion bid for the Los Angeles Clippers and now there’s word that the NBA may be trying to fast track the team’s sale.
Ballmer, who is part of Chris Hansen’s group that is attempting to bring an NBA team back to Seattle, is one of several bids coming in between $1 billion and $2 billion, according to Forbes.com. His proposal is reportedly strong.
The league owners were expected to vote Tuesday, June 3 to force the sale of the Clippers after owner Donald Sterling made racist comments that were taped in private and later released to the public. Sterling’s wife and Clippers co-owner, Shelly, has taken over the sale of the team.
However, Sports Illustrated reports the hearing, set to take place in New York, may not happen at all if Sterling can produce a completed agreement that the NBA likes before Tuesday. SI reports the league would postpone the meeting until it could vet the purchase, sale agreement, and the pending new owners.
A transaction would mean the Sterlings no longer have an affiliation with the Clippers.
SI reports the NBA would welcome a voluntary transfer, which might avert the potential of Sterling filing a costly lawsuit against the owners and league.
While the postponement of Tuesday’s hearing to review a bid would be a major development, especially since selling an NBA team takes months, it doesn’t mean the team would be sold before Tuesday. The NBA reportedly wants to resolve the Clippers ownership issue before the start of the 2014-2015 season.
Forbes reports that if the Clippers sell for Ballmer’s bid price of $1.8 billion, it would be second-highest price ever paid for a U.S. sports team.
Ballmer has said that he wouldn’t seek to move the Clippers if he ends up purchasing the franchise, which means his reported net worth of $20 billion wouldn’t be available to Chris Hansen’s group. However, insiders say Ballmer’s ownership could still help Seattle’s efforts because he would likely support a bid for a new team.
