Steve Ballmer is $2b lighter after Los Angeles Clippers purchase comes to a close

It's official, after months of delays, ex-Microsoft CEO Steve Ballmer is the new owner of the National Basketball Association's Los Angeles Clippers. The decision became final this morning after disgraced former owner Donald Sterling, tried to prevent the sale, resulting in months of legal battles. The courts have ruled in favor that Donald Sterling's wife, Shelly Sterling, had the authority to sell the team on behalf of her husband; Steve Ballmer will pay $2 billion dollars for the team

NBC News reports that the NBA made a short statement in regards to the sale stating:

The transaction in which Steve Ballmer purchased the Los Angeles Clippers closed today following the entry of an order by a California court confirming the authority of Shelly Sterling, on behalf of the Sterling Family Trust, to sell the team.

While the Los Angeles Clippers aren't the most profitable team in the NBA, they have been improving their chances at winning a championship by adding key players and staff over the past couple of years. It will be interesting to see what kind of investments Ballmer will make in order to elevate the team's status. Los Angeles is a very competitive city that is also host to other powerful and high caliber franchises like the Dodgers, Lakers, and the Kings. 

The NBA and the Los Angeles Clippers season will officially start on October 28th, 2014; this will mark the 69th NBA season and the first for Ballmer as an owner. 

Source: NBC News | Image via Microsoft

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21 Comments

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I don't care if he has the money, needs a hobby or whatever you want to call it. It was a stupid move on Ballmer's part.

regardless of your feelings about the type of person donald sterling is, isn't it a bit crazy that his personal property was taken from him by the NBA and the judicial system? to me that seems really screwed up and opens the door for any organization to grab your stuff.

Example... apple grabs your ipad (with the help of the courts) because you have jailbroken it and they don't like it.

captblaze said,
regardless of your feelings about the type of person donald sterling is, isn't it a bit crazy that his personal property was taken from him by the NBA and the judicial system? to me that seems really screwed up and opens the door for any organization to grab your stuff.

Example... apple grabs your ipad (with the help of the courts) because you have jailbroken it and they don't like it.

That is more of a story than this, but its getting overlooked because simply put, no one likes him.

captblaze said,
regardless of your feelings about the type of person donald sterling is, isn't it a bit crazy that his personal property was taken from him by the NBA and the judicial system? to me that seems really screwed up and opens the door for any organization to grab your stuff.

Example... apple grabs your ipad (with the help of the courts) because you have jailbroken it and they don't like it.


It's not his personal property. You don't OWN a NBA team, you have rights to a franchise. That's it.
If he didn't sell it, and the courts backed him up, he would still end up with nothing. The NBA would simply revoke his franchise.

All major sports teams are like this.. likewise McDonalds can revoke the franchise of any store if they feel it no longer benefits them, etc.

captblaze said,
regardless of your feelings about the type of person donald sterling is, isn't it a bit crazy that his personal property was taken from him by the NBA and the judicial system? to me that seems really screwed up and opens the door for any organization to grab your stuff.

Example... apple grabs your ipad (with the help of the courts) because you have jailbroken it and they don't like it.

It's not really being taken, the man is getting plenty of money for it.

He entered into a contract with the NBA that I'm sure has stipulations regarding things like this. It'd be more like if you signed a contract when you bought the iPad saying you wouldn't jailbreak it, then you went ahead and did it anyway and they made you sell it to someone else.

grabageek said,
Microsoft had "Clippy" now he has the "Clippers"

It's a funny old world ain't it............................

The Los Angeles Clippies? "It looks like you're trying to shoot a basket. Do you want help with that?"

I'm excited for the Clippers although I'm a Lakers fan. I believe Steve will make a wonderful owner and do what's best for the players and fans.

And let's just hope he has his mistress under control enough not to secretly record him screaming the enwurd and throwing a chair.

I understand that he wants to keep busy while retired but 2 billion dollars? He could've bought a small tropical island nation with that and ruled over it with an iron fist.

D. S. said,
I understand that he wants to keep busy while retired but 2 billion dollars? He could've bought a small tropical island nation with that and ruled over it with an iron fist.

its an investment.. Stirling bought them for 90 mill to 2Bil.. huge return..

Lachlan said,

its an investment.. Stirling bought them for 90 mill to 2Bil.. huge return..

No he didn't. He bought them for 12.5million in the early 80s. Which is about 3.3 Billion now.

You can't talk about the return, unless you look at how much money he made from owning the team.

Nashy said,

No he didn't. He bought them for 12.5million in the early 80s. Which is about 3.3 Billion now.

You can't talk about the return, unless you look at how much money he made from owning the team.

30 million*

Steve Ballmer probably found that $2B in his couch cushions. This is nothing to him.

Lachlan said,

its an investment.. Stirling bought them for 90 mill to 2Bil.. huge return..

Funny, that. I've never seen anyone NOT want to make over $1B (after taxes) that much before.

Voice of Buddy Christ said,
Steve Ballmer probably found that $2B in his couch cushions. This is nothing to him.

Funny, that. I've never seen anyone NOT want to make over $1B (after taxes) that much before.

Yeah, Nothing but chump change!!