Former Microsoft CEO Steve Ballmer signed an agreement to buy the Los Angeles Clippers for an amount of $2 billion, according to reports last Thursday.
This purchase is a record-breaking price for a team in NBA history, according to ESPN.
This acquisition happened after league commissioner Adam Silver banned Clippers owner Donald Sterling from NBA for life after making racist remarks that went public.
According to the Associated Press, Sterling let his wife Shelly negotiate the team’s sale.
The agreement will be approved directly by NBA without going through Donald Sterling, since it is under the Sterling family trust, according to Ramona Shelburne of ESPN.
There are even anonymous sources saying that Donald Sterling is mentally incapacitated, which makes his wife the sole trustee with the power to conduct the sales negotiation of the team directly between NBA and Ballmer.
According to Shelly, Ballmer would be a great Clippers owner. She said they have worked together for 33 years to turn Clippers into a leading NBA franchise.
She said she is confident that Steve Ballmer will bring the team to a higher level of success.
Meanwhile, Donald Sterling’s attorney Bobby Samini contended that Donald is a co-owner and must have a stake in the deal. Donald Sterling won’t be selling the team, said Samini. However, according to Shelly, she has the power to negotiate the sale since the team is named under the Sterling’s trust fund.
Ballmer outbid Guggenheim Partners and former NBA All-Star Grant Hill.
Ballmer said he is honoured that his name will be submitted to NBA executives for approval. He is also grateful that the league was very collaborative in the acquisition process.
Ballmer expressed his love for basketball in a statement. He also said that he would do everything to make sure that Clippers will win big.