Oprah Winfrey-led group merges with others for Clippers bid
As the bids come in for the purchase of the Los Angeles Clippers, the deadline supposedly being at 2 o’clock P.M. Eastern Time today, it looks like Oprah Winfrey has partnered up to bolster her chances of becoming an owner of the Clippers franchise.
Sources: The Geffen/Ellison/Oprah group has partnered with Guggenheim execs Todd Boehly & Mark Walter for Clippers bid.
— Darren Rovell (@darrenrovell) May 28, 2014
Todd Boehly and Mark Walter of Guggenheim Partners are already invested in Los Angeles sports after last years $2.15 billion dollar purchase of the Los Angeles Dodgers with former Los Angeles Lakers point guards Magic Johnson, film producer Pete Guber, Dodgers team president Stan Kasten and others.
“It’s a lot of money,” said Walter on the purchase of the Dodgers. “But if we do our jobs right…the long-term point of view is that people will see that the value was there.”
Alongside television mogul Oprah Winfrey and the third richest man in America (Forbes) in Larry Ellison, this group has a big chance to land the franchise after the NBA forces Donald Sterling to sale. But they will have some competition as several other high profile names are being considered for the purchase. One of those names just happen to be the richest man in the city of Los Angeles in Patrick Soon-Shiong:
Ellison, Ballmer, Patrick Soon-Shiong (minority Lakers owner) among those already been vetted by NBA & could possibly be approved quickly.
— David Aldridge (@davidaldridgedc) May 28, 2014
Prices for sale are expected to being at around $1.5 billion per multiple coerces.