Steve Ballmer buys Clips for $2BN

[themainman]

Not a done deal, and im pretty sure Sterling will reject it. His lawyer Belcher was on CNN an hour ago and said its not about money and basically fuck the police
http://situationroom.blogs.cnn.com/2014/05/29/lawyer-sterling-wants-to-be-vindicated/

 

[DangDaGawd]

Do you trust the Sterlings? I don't so I could see them still fucking it up.

I guess we should wait to see what the NBA's response is. If they seem to approve it though, we might as well get it done with.

 

[Revolver]

Ramona Shelburne ‏@ramonashelburne 9m

Spoke to source familiar with the Clippers sale process who said negotiations, as of 5 minutes ago, are ongoing

might not be a done deal

 

[iwhoopedbatman]

No partners on that bid. If you got it better flaunt it.

 

[Sexy]

I wonder if their new state of the art practice facility was part of the deal. Heard it was valued at $40 million.

Donaldo owns it, they will pay him rent - lol.

 

[Sexy]

New Clippers logo:

 

[Revolver]

Donaldo owns it, they will pay him rent - lol.

I heard there was an option to buy or lease the facility.

 

[Sexy]

I heard there was an option to buy or lease the facility.

Well, if that's the case, Ballmer should buy it. He definitely can.

 

[ChillyPalmer]

Doesn't McCourts still own a piece of the parking lot, or some land around Dodger Stadium?

 

[Sexy]

ZonaCats ‏@Zonacats1 26s
According to Forbes, the Clippers are now the 2nd most "valuable" sports franchise IN THE WORLD (between ManU and Real Madrid)

 

[Sexy]

Doesn't McCourts still own a piece of the parking lot, or some land around Dodger Stadium?

Dodgers Parking Lots: Frank McCourt Owns Half Of The Area; Here's What That Means

While the Dodgers' overall sale price was $2.15 billion, the Johnson group paid McCourt only $150 million for the land and parking lots around the stadium, instead of the full $300 million that the lots are worth. That's because McCourt paid himself the other half, $150 million, in order to retain co-ownership of the area, ESPN reports.

The soon-to-be former owner will not reap any profit from parking revenue and will not have control over the parking lots. However, he will enjoy profit from any future development of the land.

 

[Aquabot]

Not a done deal, and im pretty sure Sterling will reject it. His lawyer Belcher was on CNN an hour ago and said its not about money and basically fuck the police
http://situationroom.blogs.cnn.com/2014/05/29/lawyer-sterling-wants-to-be-vindicated/

I thought he and his lawyer had signed an agreement with his wife giving her full control of the sale?

Anyway, I think $2B is way too high. How the hell do you make a profit after starting $2B in the hole? The NBA's most profitable team is the Knicks and they pulled in $96 million last year, according to Forbes. It would take over 20 years just to recoup the cost of purchasing the team.

 

[Sexy]

Don't forget in January Forbes said the Clippers were worth $575MM.

edit: Doyers were valued at $2BN before the season started, which included Dodger Stadium.

 

[Sexy]

I thought he and his lawyer had signed an agreement with his wife giving her full control of the sale?

Anyway, I think $2B is way too high. How the hell do you make a profit after starting $2B in the hole? The NBA's most profitable team is the Knicks and they pulled in $96 million last year, according to Forbes. It would take over 20 years just to recoup the cost of purchasing the team.

Forbes: Steve Ballmer

Net worth: $20BN.

 

[ChillyPalmer]

McCourt is a pretty bright guy.

Except for the whole marriage thing of course.

 

[ChillyPalmer]

ZonaCats ‏@Zonacats1 26s
According to Forbes, the Clippers are now the 2nd most "valuable" sports franchise IN THE WORLD (between ManU and Real Madrid)

lmfao

Forbes is a joke.

Went from being worth 25 million more then what the Bucks sold for, to now being the second most valuable team in the world.

 

[edgekiller65]

Not in the near future. Still have ten years left on their lease and would only be able to move them if he could prove that Staples wasn't a viable place for his franchise to exist. Also, their upcoming tv deal will more than likely lock them in to the So Cal market for the foreseeable future.

That fuckin' blows.

 

[raiDerS1]

How in the fuck is a historically can of a team worth 2 billion dollars?

 

[Sexy]

SB Nation NBA ‏@SBNationNBA 5m
Donald Sterling’s lawyer: “There’s been no sale.” http://sbn.to/1oPgW86

 

[HugeFanSmallBod]

How in the fuck is a historically can of a team worth 2 billion dollars?

Tons of factors but most importantly how much a billionaire is willing to spend on a hobby.