Los Angeles Clippers have had offers up to $2 billion
By Jacob Rude
The sale of the Clippers has been one of the most high-profile auctions in recent history, with everyone from television mogul Oprah Winfrey to Grant Hill interested in purchasing the Los Angeles-based team. With initial reports that offers would exceed $2 billion for the franchise, the more realistic offers hovered around $1.5 billion, but CNN has reported that the offers have risen back up to the $2 billion benchmark, with at least five bidders having already submitted bids.
"There are as many as five bidders to buy the Los Angeles Clippers, with offers up to $2 billion, a source with knowledge of the situation told CNN on Wednesday night."
After stating that he would fight the NBA’s ruling of a lifetime suspension and $2.5 million fine, Sterling acquiesced to the punishments, agreeing to sell the team to the highest bidder. Sterling issued a lengthy response to the NBA’s charges on Tuesday, stating he had already been prejudged and would not receive a fair trial.
Sterling has yet to have his ownership of the Clippers officially vacated, with a meeting with the rest of the NBA owners set for June 3. A 75% majority vote in favor of Sterling’s ownership to be vacated is necessary for the action to officially take place.
The Clippers certainly are a franchise on the rise, centered in one of the countries biggest markets and one of the league’s more successful and marketable teams. With stars like Blake Griffin and Chris Paul, who have appeared on commercials all throughout the NBA Playoffs, there’s good reason the price of the franchise is rapidly rising.