Former Microsoft CEO Steve Ballmer to buy L.A. Clippers for $2 billion

Los Angeles Times | May 29, 2014 | 3:58 PM

Steve Ballmer, the former chief executive of Microsoft, is poised to become the new owner of the L.A. Clippers for a record $2-billion purchase price.
The rushed sale, guided by team co-owner Shelly Sterling and Bank of America, comes a little more than a month after racially charged remarks by Donald Sterling angered NBA fans, advertisers and players. The sale is timed to beat the NBA's Tuesday hearing to oust the Sterlings from team ownership.
The Sterlings received at least three offers. If the sale goes through, it will be the highest price ever paid for an NBA team, easily topping the $550 million paid for the Milwaukee Bucks in April.
But significant hurdles remain. Shelly Sterling needs to gain the cooperation of her 80-year-old husband, and eventually persuade three-quarters of the NBA's other owners to sign off on the deal. Both steps need to happen before Tuesday. Donald Sterling has offered conflicting information about his willingness to sell the team.
Ballmer, who left Microsoft in February after leading the company for 14 years, beat out at least two other offers. Those came from a partnership of three men with ties to major league sports, and a trio of billionaires, including mega-entrepreneur Oprah Winfrey, who joined with principals of Guggenheim Partners, owners of the Dodgers.
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