April 2014 Basketball Wiretap

Sterling Estimated Value Of Clippers At Under $300M In 2009

Jun 1, 2014 4:16 PM

Donald Sterling himself put the value of the Los Angeles Clippers at under $300 million during a 2009 deposition in a Justice Department federal housing discrimination lawsuit.

Sterling, answering questions about a balance sheet for the Sterling Family Trust, through which he and Shelly co-own the Clippers franchise, said he thought that figure might even be too high.

"It was an estimate," he testified. "I don't know if the Clippers are worth $300 million. I think less. All the teams are for sale, and they're borrowing money now. And people aren't buying the tickets."

Sterling's controversial statements may have even increased the purchase price of the Clippers to the $2 billion figure paid by Steve Ballmer.

"If Donald Sterling had put this team up for sale six months ago, before he ran his mouth, this team would have gotten $700 [million] to $750 [million]," said John Moag, chief executive of Moag & Co. "This team has gotten a lot of attention, and literally overnight it changed this team's brand."

Charles Fleming, Walter Hamilton, Andrea Chang/Los Angeles Times

Tags: Los Angeles Clippers, NBA, NBA CBA

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NBA Trying To Make First Seasons Of New TV Deals Begin One Year Earlier

May 30, 2014 7:33 PM

The NBA has begun television negotiations with network partners a year early to possibly renew deals with ESPN and TNT at a higher rate, along with adding a Saturday package with another outlet such as NBC Sports, Fox Sports 1 or possibly Google.

One of the conditions of negotiating a new deal is to rip up the final season of their current deals and begin them at a higher rate in 15-16.

The NBA's eight-year, $7.5 billion deal with TNT and ESPN expires after the 15-16 season.

Bill Simmons/ESPN

Tags: NBA, NBA CBA

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NBA, Sterling Family Trust Announce Settlement, Sale To Ballmer

May 30, 2014 8:14 PM

The NBA has resolved dispute over the ownership of the Los Angeles Clippers and the franchise will be sold to Steve Ballmer, pending approval by the Board of Governors.

The NBA will then withdraw its pending charge to terminate the Sterlings' ownership of the team.

Ballmer reportedly paid $2 billion to purchase the Clippers from the Sterlings.

Shelly Sterling and the Trust agreed not to sue the NBA and to indemnify the NBA against lawsuits from others, including from Donald Sterling.

RealGM Staff Report

Tags: Los Angeles Clippers, NBA, NBA CBA

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Report: Donald Sterling To Sue NBA For $1 Billion

May 30, 2014 7:18 PM

Donald Sterling will sue the NBA for $1 billion after he was forced to relinquish ownership of the Los Angeles Clippers, according to a report from NBC News.

Sterling's wife, Shelly Sterling, sold the Clippers for $2 billion to Steve Ballmer.

Sterling has recently been ruled mentally incapacitated, according to ESPN's Ramona Shelburne.

Max Blecher, attorney for Sterling, has confirmed his client's intent to file to both Adrian Wojnarowski and Shelburne.

The Los Angeles Times acquired a copy of the lawsuit, which focuses on the NBA's "draconian" punishments. Adam Silver is also a defendant in the suit.

Sterling's suit includes claims for denial of constitutional rights, breach of contract and more.

NBC News

Tags: Los Angeles Clippers, NBA, NBA CBA

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Ballmer's Role In Arena Deals For Other Cities Helped With Clippers' Bid

May 30, 2014 12:17 PM

Steve Ballmer's role in helping force arena deals with the Sacramento Kings and Minnesota Timberwolves due to his interest in purchasing those franchises in hopes of relocating to Seattle played a role in Adam Silver helping him land the Los Angeles Clippers, according to sources.

Ballmer, working with Chris Hansen, made three unsuccessful bids for the Kings, Wolves and Milwaukee Bucks over the past year.

Ballmer made a $2 billion for the Los Angeles Clippers this week.

For Hansen to get a team to Seattle, he will likely face a pricetag over $1 billion and will do so without his wealthiest partner in Ballmer.

Brian Windhorst/ESPN

Tags: Los Angeles Clippers, NBA, NBA CBA

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Steve Ballmer Agrees To Purchase Clippers For $2 Billion

May 29, 2014 11:06 PM

Steve Ballmer has won a bidding war to purchase the Los Angeles Clippers for $2 billion.

ESPN's Ramona Shelburne reports that Ballmer and the Sterling family trust signed a binding agreement on the sale and that it will go straight to the NBA for final approval. Shelburne also reported that Donald Sterling has been declared mentally incapacitated, which has left Shelly Sterling with the power to sell the team.

Ballmer, who was chief executive of Microsoft for 14 years, was chosen over competitors that included Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers, according to three individuals familiar with the negotiations.

One of the individuals with knowledge of the negotiations said the Geffen group bid $1.6 billion and Ressler at $1.2 billion.

The tentative deal must also receive the blessing of Donald Sterling, followed by an approve from the 29 other owners.

James Rainey/Los Angeles Times

Tags: Los Angeles Clippers, NBA, NBA CBA

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Multiple Bids Submitted To Purchase Clippers

May 28, 2014 7:41 PM

Multiple bids have been submitted for the Los Angeles Clippers and are now being reviewed by Shelly Sterling and her advisers.

Shelly Sterling was previously given authority to sell the franchise by her husband Donald Sterling.

Shelly Sterling has told bidders to submit letters of interest by Wednesday, with firm offers due by 5 p.m. ET on Thursday, according to sources. It is then expected that a second round of bidding will take place this weekend, with a winning bid decided upon by Monday.

One group involved is led by music mogul David Geffen and includes Oracle CEO Larry Ellison and Oprah Winfrey. This group now also includes Guggenheim executives Todd Boehly and Mark Walter, ESPN has learned.

Billionaire and former Microsoft CEO Steve Ballmer is also said to be involved in the bidding. 

Scott Soshnick of Bloomberg reports that the Tony Ressler/Grant Hill group submitted a $1.2 billion offer.

Ramona Shelburne, Darren Rovell/ESPN

Tags: Los Angeles Clippers, NBA, NBA CBA

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Donald Sterling Vows To 'Fight To Bloody End'

May 28, 2014 12:12 PM

While Shelly Sterling is attempting to move forward with selling the Los Angeles Clippers, Donald Sterling responded forcefully to the NBA's charges to terminate his ownership.

Donald Sterling's lawyer, Max Blecher, told ESPN on Tuesday that his client "is going to fight to the bloody end" and has effectively "disavowed" the agreement he reached with his wife last week that would allow her to negotiate a sale of the team.

"I don't know what agreement she has with him, but I'm saying to you today, he disavows anything she's doing to sell the team," Blecher said. "He says, 'It's my team, and I'll sell it when and if I get around to it.'"

The dispute between the Sterlings comes as the NBA continues to press for a June 3 hearing of the board of governors, which will end with a vote on whether to terminate Donald Sterling's ownership.

Ramona Shelburne/ESPN

Tags: Los Angeles Clippers, NBA, NBA CBA

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Shelly Sterling Meets With Steve Ballmer

May 25, 2014 7:44 PM

Shelly Sterling reportedly met with Steve Ballmer on Sunday.

Ballmer was previously part of Chris Hansen's bid to purchase the Sacramento Kings and relocate them to Seattle.

But if Ballmer were to bid on the Los Angeles Clippers, he would not consider moving them.

"If I get interested in the Clippers, it would be for Los Angeles," said Ballmer recently. "I don't work anymore, so I have more geographic flexibility than I did a year, year-and-a half ago. Moving them anywhere else would be value destructive."

James Herbert/CBS Sports

Tags: Los Angeles Clippers, NBA, NBA CBA

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Yao Ming Working With Chinese Investors On Bid For Clippers

May 23, 2014 2:54 PM

The Los Angeles Clippers will be bid upon by a number of parties, with Yao Ming now being mentioned as a possibility.

Yao is reportedly putting together a group of Chinese investors to make a serious run at purchasing the Clippers.

The Clippers are also expected to receive interest from Magic Johnson/Guggenheim Partners, Larry Ellison, David Geffen and others.

Bill Simmons/ESPN

Tags: Los Angeles Clippers, NBA, NBA CBA

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Donald Sterling To Allow Wife To Work On Sale Of Clippers

Ramona Shelburne/ESPN

Shelly Sterling Has No Claim To Ownership Of Clippers

Andrew Perna/RealGM

Silver: NBA Has 'Fiduciary Responsibility' To Sell Clippers At Highest Price

Andrew Perna/RealGM

NBA Initiates Charge Seeking Termination Of Sterling's Ownership Of Clippers

RealGM Staff Report

NBA To Have Centralized Replay Center Next Season

Ira Winderman/Sun-Sentinel

NBA Considering 'Disenfranchising' Clippers

Michael McMann/Sports Illustrated

Isiah Thomas Likely To Become Minority Owner Of Pistons

Vince Goodwill/Detroit News

Sterling Refuses Sanctions, Hires Prominent Antitrust Litigator With Threat To Sue

Michael McCann/Sports Illustrated

Bucks' Sale To Edens, Lasry To Be Approved By NBA On Thursday

Brian Windhorst/ESPN

Silver: NBA Continuing Process To Remove Sterling As Expeditiously As Possible

RealGM Staff Report

Shelly Sterling's Ownership Terminates Automatically After Vote

RealGM Staff Report

NBA Playoff Games Lasting Two Minutes Longer On Average From Last Season

Richard Sandomir/New York Times

Sterling Apologizes, Asks For Forgiveness

Anderson Cooper/CNN

Sacramento Completes Definitive Arena Agreement

Dale Kasler, Tony Bizjak, Ryan Lillis/Sacramento Bee

Rivers: We Wouldn't Know Who Was In Charge If Shelly Sterling Stays

Ramona Shelburne/ESPN

Kerr Will Have To Sell Small Ownership In Suns To Become Head Coach

Marc Berman/New York Post

Shelly Sterling Claims To Be Working With NBA On Search For Clippers' CEO

Arash Markazi/ESPN

NBA To Appoint CEO To Run Clippers During Transition

Sam Amick/USA Today

Sterling Regrets Not Paying Off Stiviano

DuJour.com

Poll Finds Support For NBA's Penalties On Sterling Despite Racial Divide

Marjorie Connelly/New Yor Times