Sterling giving up the fight

[Markedman]

Good that it didn’t drag on for years…..would have been a disaster for the league.
SportsCenter ‏@SportsCenter 53m
THIS JUST IN: Donald Sterling has agreed to allow wife Shelly to negotiate a forced sale of Clippers. (ESPN & Media reports)

[CaribouJim]

...and they are now kicking around $2 billion as a possible sale price.

[TheSultan]

I think the Sterlings finally figured out, that even a victory, would be a costly and pyrrhic in nature.

[Alan Bykowski, "brewcity77"]

$2 billion? Are they insane? They are selling the Clippers, not Man United.

[MKE_GoldenEagleFan]

By selling he will become even more rich... Somehow he still comes out way ahead in this deal.

[Nukem2]

By selling he will become even more rich... Somehow he still comes out way ahead in this deal.
Yeah, no one is feeling sorry for him. Hopefully his wife takes him to the cleaners in the divorce settlement.

[Alan Bykowski, "brewcity77"]

I loved the comment from his wife that she's been thinking about divorce for the past 20 years or so. Uhh...20 YEARS?!?!? What were you waiting for, your infant to get to their junior year of college?

[MU/Panther]

$2 billion? Are they insane? They are selling the Clippers, not Man United. Well, the Bucks sold for $550 million.

[Alan Bykowski, "brewcity77"]

I can't see the Clippers being worth four times what the Bucks are. The Dodgers went for $2 billion, and the Clippers are no Dodgers. The Cubs only sold for $700 million in 2009 and they are a far more recognizable brand than the Clippers. The only NBA franchises to sell for over $500 million are the Bucks and the Wizards ($551 million in 2010). The Clippers are maybe worth $650, at the most $700 million, but no way is a second banana team in their market worth $2 billion. There are maybe 5 franchises in the world (all sports) worth that much and none of them are in the NBA.

According to a list from Forbes in 2013, only 1 NBA franchise is listed among the 50 most valuable franchises in the world, and that is the Lakers, ranking #35 at $900 million. The Clippers are not worth double what the Lakers are.

[Rajl]

If they are asking 2billion they are not giving up the fight. Stall tactic.

[Markedman]

They are worth whatever the highest bidder thinks they are worth.

We aren't talking about buying Cisco or IBM.......2 rich guys wanted to own an NBA team so they offered Herb Kohl 550 million........so to them that is how much the team was worth........You have to over bid to join the exclusive club of professional sports owners these days. Normal rules of valuation don't really apply and no matter how much you pay............ somebody will always give you more when you are ready to sell.....


It will be interesting to see how the bidding plays out

[CaribouJim]

This is the link with the reference to $2 billion - Bill Simmons Twitter...

https://mobile.twitter.com/BillSimmons

[KMWTRUCKS]

The Diff between Bucks and Clips is they have a new stadium and they are in LA. clips are good and bucks are not. they said the dodgers were only worth 1 bil and the got 2 bil. the Bucks owners are probably in for 700-750 when its all said and done. The contract says the NBA buys them back without a new stadium. So they are going to pony up 200-250 plus herbs 100 for the new staduim . My guess for the clips is 1.6 bil. Its in LA and that is where the huge money and owners want to goto the games for ego. my guess is the lakers could get 2.5 bil.

[79warrior]

Good that it didn’t drag on for years…..would have been a disaster for the league.
SportsCenter ‏@SportsCenter 53m
THIS JUST IN: Donald Sterling has agreed to allow wife Shelly to negotiate a forced sale of Clippers. (ESPN & Media reports)

Not quite. Shelly wants to have a minority ownership in any sale. Don't for a minute think Donald Sterling will just lay down and go away.

[Markedman]

http://www.cbssports.com/nba/eye-on-basketball/24575893/report-former-microsoft-ceo-ballmer-puts-in-18-billion-bid-on-clippers

[TheSultan]

Then there is this theory...

https://twitter.com/RattoCSN/status/472041421914927104

[Goose85]

The Diff between Bucks and Clips is they have a new stadium and they are in LA. clips are good and bucks are not. they said the dodgers were only worth 1 bil and the got 2 bil. the Bucks owners are probably in for 700-750 when its all said and done. The contract says the NBA buys them back without a new stadium. So they are going to pony up 200-250 plus herbs 100 for the new staduim . My guess for the clips is 1.6 bil. Its in LA and that is where the huge money and owners want to goto the games for ego. my guess is the lakers could get 2.5 bil.

Sounds like the Clippers are also coming due on the local TV rights. Said on ESPN radio this morning those rights could increase to something like $50 million per year. At that rate, you can see why the Clippers value is so much higher than the Bucks. Being in LA helps. I don't think local Fox Sports is going to pay half a billion over the next 10 years to show Bucks games.

[Markedman]

Then there is this theory...

https://twitter.com/RattoCSN/status/472041421914927104

I guess we will find out soon...



Ramona Shelburne @ramonashelburne · 5m
As we reported over the weekend, Ballmer has told Shelly Sterling he would not move the team to Seattle. He also said in an interview w/ WSJ
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Ramona Shelburne @ramonashelburne · 23m
Sources close to the process believe former Microsoft CEO Steve Ballmer is the current leader, but negotiations ongoing

[Markedman]

So...who said they wouldn't get 2 Billion?

http://www.latimes.com/sports/la-sp-sn-clippers-sale-ballmer-20140529-story.html

[MU/Panther]

Not me. Anything can happen if the Bucks sold for 550 million.

[Markedman]

So now it's up to Sterling to take the 2 billion or fight on ...............He is crazy enough to litigate but I think in the end he will take the deal

[Markedman]

So I guess it is done....according to ESPN no apporval is needed from Donald Sterling....http://espn.go.com/los-angeles/nba/story/_/id/11003237/former-microsoft-executive-steve-ballmer-submits-winning-bid-buy-clippers-according-sources

[Alan Bykowski, "brewcity77"]

Absolutely ridiculous. So the Clips are worth double what the most expensive NFL franchise to ever sell (Browns, $1.05B) are worth? And while the overall price tag was lower than the Dodgers, the Dodgers included a lot more land and a TV deal, which the Clippers don't bring to the table. In terms of strictly franchise value, you could easily argue the Clips are worth more.

This just reminds me more and more why I am losing my interest in professional sports. Freaking ludicrous.

[ValiantSailor]

Absolutely ridiculous. So the Clips are worth double what the most expensive NFL franchise to ever sell (Browns, $1.05B) are worth?


Not to you or me, but Ballmer has no idea of the value of money. He attached himself to Bill Gates early in life and with little effort became a billionaire several times over. Add to that his failure to get the Kings, and he decided to pay whatever it took.

I'll bet Blake Griffin, Chris Paul, and a few other Clips will be looking for a bump in their contracts soon. Will be a wild time.

VS

[MKE_GoldenEagleFan]

Also if the Browns were for sale right now they would be selling for much more than $1B

[TheSultan]

Absolutely ridiculous. So the Clips are worth double what the most expensive NFL franchise to ever sell (Browns, $1.05B) are worth? And while the overall price tag was lower than the Dodgers, the Dodgers included a lot more land and a TV deal, which the Clippers don't bring to the table. In terms of strictly franchise value, you could easily argue the Clips are worth more.

This just reminds me more and more why I am losing my interest in professional sports. Freaking ludicrous.


I guess I don't understand why the price of a franchise would bother you.

[TheSultan]

I'll bet Blake Griffin, Chris Paul, and a few other Clips will be looking for a bump in their contracts soon. Will be a wild time.


They're both maxed out under the CBA and have a number of seasons to go before hitting free agency again.

[TheSultan]

Bill Simmons summed a lot of this nicely when the Bucks were purchased.

http://grantland.com/features/the-worlds-most-exclusive-club/

[Alan Bykowski, "brewcity77"]

Also if the Browns were for sale right now they would be selling for much more than $1B

The Browns sold in October 2012. Have things really changed that drastically in a year and a half?

And while Ballmer overpaid, Geffen offered $1.6B, so it wasn't that huge a (relative) difference. The reason it bothers me is because it just reinforces how out-of-whack our priorities are. Sports teams are billion dollar playtoys. My Irish always gets up a bit when I see an A-Rod type deal or a sale like this. Just irks me that we care so much more about games than any of the societal ills that could be solved by these billions.

I know, pointless soapbox, I'm sure I'm as guilty as any, but a price tag like that for a franchise as moribund as the Clippers is absurd.