Former Microsoft CEO Steve Ballmer is at the top of the heap, winning a Clippers bidding war for $2 billion. Steve Ballmer left Microsoft in February and is worth an estimated $20 billion.
Ballmer bid higher than Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group. Ballmer and Clippers co-owner Shelly Sterling concluded a deal late Thursday afternoon, but Bobby Samini, an attorney for Donald Sterling, said that there's no sale yet and there won't be without "Donald's signature."
Donald Sterling was sanctioned by the NBA for racists remarks he made in a phone conversation about black people that his ex-girlfriend secretly recorded and then released. Sterling agreed last week to allow his wife to conduct a sale of the team.
The deal also needs the approval of three-fourths of the 30 NBA owners, but is expected to clear that hurdle as long as Ballmer reaffirms his pledge to keep the team in Los Angeles.
Source: LA Times