David Geffen, Oprah, Larry Ellison withdraw from Clippers bidding
By Mike Dyce
Reports from the Los Angeles Times on Friday indicated that the Los Angeles Clippers had been sold to former Microsoft CEO Steve Ballmer for $2 billion. There have since been reports that say the contrary, and that no sale is done.
The reports, from Los Angeles Daily News reporter Dakota Smith say that the sale isn’t final and that the news was leaked by another bidder.
A source close to Clippers negotiations tells me that a final sale isn't a done deal. No winning bid picked yet.
— Dakota Smith (@dakotacdsmith) May 29, 2014
Source says that LAT jumped the gun on reporting the sale. News was leaked to LAT by another bidder, source said.
— Dakota Smith (@dakotacdsmith) May 29, 2014
It might have been a move made in an attempt to discourage other bidders from participating. It might have worked because ESPN’s business guru Darren Rovell is reporting that the David Geffen led group, which contains Larry Ellison, Oprah Winfrey and Laurene Jobs, has backed out of the bidding.
David Geffen confirms that his group that included Larry Ellison, Oprah & Laurene Jobs has withdrawn from the Clippers bidding.
— Darren Rovell (@darrenrovell) May 30, 2014
In fact, Ballmer’s reported $2 billion bid is $400 million higher than Geffen’s group and $800 million higher than another group’s bid.
Ballmer's $2B bid beats the Geffen/Ellison group by $400M, the Ressler/Karsh group by $800M.
— Darren Rovell (@darrenrovell) May 29, 2014