Steve Ballmer offers $1.8 billion for the L.A. Clippers, probably gives him Clippy nostalgia [Update]

If a new rumor is correct, former Microsoft CEO Steve Ballmer is ready to spend some serious money to own a professional sports team. Forbes reports, citing unnamed sources, that Ballmer has offered to pay $1.8 billion to purchase the Los Angeles Clippers NBA basketball team.

If the offer is accepted, it would be the second highest price ever paid for the ownership of a U.S. pro sports team. The highest price was $2 billion, which was paid by Guggenheim Baseball Management for the L.A. Dodgers baseball team and its stadium in 2012. However, Forbes says that the final price for the L.A. Clippers team could exceed $2 billion as other groups are reportedly in the running to buy the franchise from current owner Donald Sterling. Ballmer reportedly met on Sunday with Sterling's wife Shelly about a possible deal.

Ballmer has already stated that if he does end up purchasing the Clippers, he would keep the team in Los Angeles. This is a different strategy than what he came up with in 2013, when he and other investors formed a group to try and buy the Sacramento Kings NBA team in an effort to bring the franchise to Seattle. Ultimately, the NBA team owners voted that plan down.

Of course, we all know that Ballmer was around when the era of Clippy at Microsoft was in full swing and seeing that the Clippers and Clippy have similar names, who knows, maybe this is a nostalgia play for the former Microsoft CEO. Ok, we know that the answer to that question is obviously 'no', but still, maybe Ballmer can bring Clippy back as the new mascot of the Clippers.

Update: The deal is reportedly done.

Source: Forbes | Image via Microsoft

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23 Comments

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Sterling didn't do anything wrong IMO, he said what he said in the privacy of his own home and to nobody else but that girl who illegally recorded the conversation. People just need to get a life and stop getting all upset over something that was posted online that wasn't even meant to be heard in public.

Either way, the politically correct liberal police will take a hard blow back if Sterling accept Ballmer offer. Not only will Sterling wealth multiply in folds, but he did so with the p.c lliberal police's help. Lol, their racism card will be dismissed the more they pretend to give a what and abuse people with it.

Donald Sterling should not take the offer and fight the NBA until the end. Would love to see Billionaires fight over this stuff!

ACTIONpack said,
Donald Sterling should not take the offer and fight the NBA until the end. Would love to see Billionaires fight over this stuff!

AKA make some lawyers rich.

way to overvalue the team. There is no way the clippers are worth $1 billion let alone $2 billion. I feel sorry for the sucker that the NBA is going to convince to buy the Clippers for that much.

I wish I could pull that kind of money out of my back pocket! Can you lend me a million, Steve? My kids' kids will make sure it's paid in 120 years time! Just don't charge me interest, OK?

Tidosho said,
My kids' kids will make sure it's paid in 120 years time! Just don't charge me interest, OK?

You must work for the government

Askew_ said,

You must work for the government

Never! I hate governments, all talk no action. I do both in life, I do what I say. If I can't do it, I don't say I will.

"Of course, we all know that Ballmer was around when the era of Clippy at Microsoft was in full swing and seeing that the Clippers and Clippy have similar names, who knows, maybe this is a nostalgia play for the former Microsoft CEO. Ok, we know that the answer to that question is obviously 'no', but still, maybe Ballmer can bring Clippy back as the new mascot of the Clippers."

ROFLOL
"it looks like you are trying to score, can i help you?

TechJunkie81 said,
The price was somewhere in the neighborhood of 13 million dollars back in '81. That is great return on investment.

Yeah 1800 million back from 13, not too shabby..

Well if Sterling had invested 12.5 million dollars in Microsoft in 1981 instead do you think it would have been a better investment. I think it would have netted a lot more than a possible 1.8 billion (which by the way is way over priced for the Clippers)

Lets calculate from 1986 IPO 12.5 million at $21 per share = ~595238.09524 shares
I think I recall each share would net you 288 shares today it could be more (this number is from 2008)
So 595238 * 288 shares = 171428571.43 overall shares today
At todays price 39.39 * 171428571 shares = $6,752,571,428.57

Yeah, Sterling would have scored a lot more had he invested in Microsoft then the Clippers.

Edited by pjosephson, May 29 2014, 5:29pm :

pjosephson said,

Yeah, Sterling would have scored a lot more had he invested in Microsoft then the Clippers.

You done?...... this story has nothing to do with Sterling investing in Microsoft. What is the point of evening dreaming about something that never happened and has nothing to do with anything.

Edited by xendrome, May 29 2014, 7:09pm :

Do you have stick up you A$$. Really, I may ask what is the point of you. I get tired of people that think if the world does not revolve around them then world does not exist. The point was to show that, even a small mind like you, that point of 12.5 million investment, as pointed out by the previous comment (which I responding to) that such a small investment now reaping possible large rewards was even small compared to rewards of investing elsewhere.

xendrome said,

You done?...... this story has nothing to do with Sterling investing in Microsoft. What is the point of evening dreaming about something that never happened and has nothing to do with anything.

His post was actually quite informative from a 'neutral' POV. Stop being such a freaking killjoy!

yekGLzhQ4Qju1FtAVcC4 said,
I'm sure a lot of money went into that team every year.

Did you put your password into the space where the username is supposed to go?