May 29, 2014
Racing to sell the Clippers before being stripped of ownership by the NBA, co-owner Shelly Sterling received at least three preliminary offers for the team that could reach up to a record $2 billion, according to three people familiar with the process.
The offers for the team came from three groups with ties to the sports world, according to a person who represents one of the bidders. A representative of one of the bidders’ groups said an offer is expected to come from a group backed by Middle Eastern investors.
FOR THE RECORD: An earlier version of this story stated Shelly Sterling had received at least four preliminary offers for the team. At least three potential buyers have made offers. Another offer is expected to come from a group backed by Middle Eastern investors.
Multiple complications still stand between the bidders and a final deal — including acceptance by Sterling, approval by other NBA owners and, perhaps most problematic, a clear agreement from her co-owner and husband, Donald Sterling, that he will sign off on the transfer of the team.
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