Steve Ballmer Strikes Deal to Buy LA Clippers for $2 Billion

At this point, sports fans and non-fans alike know about Donald Sterling's racist tirade. He's been met with heavy punishment and it's ultimately culminated in him selling off his NBA team, the Los Angeles Clippers. They received bids like $1.2 billion from the Ressler-Karsh group and $1.6 billion from the Geffen group, but in the end, ex-Microsoft CEO Steve Ballmer outbid them all with $2 billion.

Earlier this year, the Milwaukee Bucks were purchased for the price of $550 million, which at the time was the all-time NBA high. Ballmer's bid marks the second highest price ever paid for a sports team in North America, right behind the $2.1 billion that the Los Angeles Dodgers fetched in 2012.

The deal happened through Shelly Sterling, Donald Sterling's wife, and was rushed due to an upcoming NBA hearing that could have resulted in the Sterlings losing the team.

The deal is far from done, however. They still need approval from three quarters of the 30 NBA owners. Last year, Steve Ballmer teamed up with hedge fund manager Chris Hansen in an attempt to buy the Sacramento Kings and move them to Seattle. The deal was shot down by NBA owners, but they're expected approve this new deal as long as Steve Ballmer plans to keep the team in Los Angeles. Then there's Donald Sterling himself, who still needs to sign the deal, according to his attorney.

via LA Times

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