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Just saw this article on the Clippers impending sale, and it makes perfect sense. Dude is insane – seriously.
Donald Sterling was deemed “mentally incapacitated,” clearing the way for Shelly Sterling to become the sole trustee in the Sterling family trust and giving her the power to sell the Los Angeles Clippers, according to ESPN’s Ramona Shelburne.
Value is often defined as what the market will bear. And in this case, Steve Ballmer is offering a cozy $2 billion. That is a lot of dough, folks. By way of contrast, the hapless Milwaukee Bucks franchise was sold for $550 million earlier this year – still a lot of money for a struggling franchise in a small market.
By way of comparison, Forbes recently valued the NY Yankees at $2.3 billion, and the Dallas Cowboys at $2.1 billion. Real Madrid was tops on Forbes’ list at $3.3 billion and Manchester United second at $3.1 billion.
Shelly Sterling has expedited the sale as the NBA is expected to strip the Sterling’s of ownership, per the NBA Constitution, Tuesday. In other words, she has taken matters into her own hands and is voluntarily selling the team before the NBA can vote. What remains unclear is if Donald must consent. It looks like, though, per the family trust, that his incapacitation strips him of his rights. That’s not on the NBA. Not at all.
As far as the NBA as a whole is concerned, it looks to be on very solid footing, as these sales, tv viewership, superstar players young and old, attendance, and these very awesome and competitive playoffs will attest.
I’ve read several stories about the sale price, but what in the heck happened to Sterling? Interesting timing.
He, ummm, went cookoo…
I thought as much when I first heard his rant. Anderson Cooper mentioned it as well following his interview. The man can’t string together a thought, or respond to a simple question.
The NBA is loving this.
OK, I just watched the Anderson Cooper interview. Reminded me a bit of my neighbor when he’s intoxicated. I guess was expecting “mentally incapacitated” to mean more of a non-functioning brain or something like that. So, bad news is he can’t own an NBA team. Good news is he could probably get a light sentence for committing a crime. Well, except for the fact that he’s Donald Sterling.
LMFAO:
LOS ANGELES — With a $2 billion sale of the Los Angeles Clippers hanging in the balance, a judge suggested Monday that the terms of a family trust are clear enough to remove Donald Sterling as a trustee and allow his estranged wife to sell the team without his consent.
At one point, Superior Court Judge Michael Levanas said the Sterlings’ trust agreement is so unambiguous that “I could decide this case in five minutes.”
As predicted, Sterling is a LOSER:
Judge Michael Levanas ruled in favor of Shelly Sterling, saying the estranged wife of Donald Sterling acted properly in removing her husband from the trust that owns the NBA team and in winding up the affairs of the trust.
The sale can go forward regardless of any appeals, Levanas said.
‘Dog, maybe it’s just my sick mind, but it seems there’s a certain double entendre innuendo type feel to that there photo.
They didn’t call her Madame Ram for nothin’.
Ol’ Carroll Rosenbloom never saw it comin’.
Glub, glub.I would pay good money to see this crazy old bastard talk about slavery, the holocaust, etc for an hour or so. Make it happen, YouTube. People will link to that shit.
I can provide what is likely a reasonable facsimile for half the price.
Sorry, Cliven Bundy beat you to the punch.
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