The $2-billion sale of the Los Angeles Clippers to former Microsoft CEO Steve Ballmer was finalized Tuesday.
By Ben Bolch, Nathan Fenno and Melissa Rohlin
August 12, 2014
The NBA announced that Steve Ballmer’s $2-billion purchase of the Clippers had closed on Tuesday, making the former Microsoft CEO the undisputed owner of the team.
The transaction ends a fractious period of nearly four months in which owner Donald Sterling fought to retain control of the team he had presided over for three decades. A judge affirmed the right of Shelly Sterling, Donald’s estranged wife, to wrest control of the team from her husband and sell it to Ballmer.
Ballmer’s lawyer, Adam Streisand, said the agreement to sell the Clippers quickly finalized after Judge Michael Levanas signed the final order Tuesday morning permitting the sale.
“Within minutes, the deal was signed, sealed and delivered,” Streisand said.
“I am humbled and honored to be the new owner of the Los Angeles Clippers,” Ballmer said in a statement. “Clipper fans are so amazing. They have remained fiercely loyal to our franchise through some extraordinary times. I will be hard core in giving the team, our great coach, staff and players the support they need to do their best work on the court. And we will do whatever necessary to provide our fans and their families with the best game-night experience in the NBA.”
However, Donald Sterling has not given up in his fight against the sale of the Clippers.
Hours after the announcement of the sale, Sterling petitioned an appeals court to overturn the move.
“An immediate stay from this court, and an order halting or unwinding the sale, is necessary,” the filing said, “to allow meaningful review of the novel and erroneous legal determinations made here, and to restore public faith in our justice system.”
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