Los Angeles Clippers: Six serious bidders for the team
It was recently announced that Los Angeles Clippers owner Donald Sterling, who is banned for life from the NBA for his racist comments, has allowed his wife Shelly Sterling to negotiate a potential sale of the team on his behalf.
More from Los Angeles Clippers
- Did Russell Westbrook play role in James Harden’s Clippers interest?
- 3 potential James Harden suitors not named the Clippers
- The new NBA flopping rules explained
- 5 players Sixers could acquire in Harden deal to stay competitive
- NBA rumors: One Damian Lillard suitor could drop out in favor of another star
According to Ramona Shelburne of ESPN, there is no shortage of interest in the team, with at least six serious parties lining up to bid for the franchise.
"Shelly Sterling has received inquiries from at least six serious bidders for the Los Angeles Clippers, sources told ESPN on Sunday. Shelly Sterling reached an agreement with her estranged husband, Donald Sterling, to negotiate a sale of the franchise after he was banned for life and fined $2.5 million by NBA commissioner Adam Silver on April 29.Sterling’s attorney, Pierce O’Donnell, is handling the sale with Bob Baradaran, a managing partner at his law firm Greenberg Glusker, and Darren Schield and Doug Watson of Beverly Hills Properties, a real estate company owned by the Sterling family."
Even though Forbes values the Clippers at $575 million, it is expected that the price of a potential sale could rise to around of even above $1 billion.
According to the same ESPN report, Shelly Sterling was supposed to meet with former Microsoft CEO Steve Ballmer, who previously wanted to buy the Sacramento Kings and move the franchise to Seattle.
However, Shelly Sterling is said to be unwilling to sell the team to anyone who would move it elsewhere, and Ballmer appears to accept those terms.
Another group of potential buyers includes former NBA player Grant Hill and other investors.
Yao Ming was also rumored to be putting together a group of investors for a potential bid, but he denied the rumors.