Former Microsoft chief executive Steve Ballmer has submitted a bid of $2 billion to buy the Los Angeles Clippers. There are various reports as to IF it’s the winning bid. So is it?! Hit the jump for details…
Via ESPN:
Sources tell ESPN.com’s Darren Rovell that Ballmer’s bid is the highest so far, topping bids from groups led by David Geffen ($1.6 billion) and L.A. investors Tony Ressler and Steve Karsh ($1.2 billion). Geffen confirmed to ESPN on Thursday night that his group was out of the bidding.
Sources, however, tell ESPN.com’s Ramona Shelburne that negotiations are ongoing and Ballmer’s bid has not been proclaimed the winner yet.
The $2 billion price tag would be the second-most ever for a North American professional sports franchise. The Los Angeles Dodgers were sold in 2012 for $2.1 billion. It would be the most paid by far for an NBA team, after the $550 million paid for the Milwaukee Bucks this year.
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UPDATE via ESPN:
The Sterling family trust has signed an agreement to sell the Los Angeles Clippers to former Microsoft chief executive Steve Ballmer for $2 billion, sources tell ESPN.com’s Ramona Shelburne.
The agreement is going straight to the NBA for final approval and does not require additional approval from banned Clippers owner Donald Sterling, according to sources.
