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Former president of Microsoft will buy NBA team for $2 bn

ballmer Steve Ballmer , former CEO of Microsoft , has signed an agreement on Thursday (29) to buy the Los Angeles Clippers, NBA basketball team, for $ 2 billion, according to a statement released by the entrepreneur and the current co-owner of franchise, Shelly Sterling.

 

The purchase must be approved by the other 29 owners of NBA teams, professional basketball league in the United States, in a vote that should be just a formality.

The amount of $2 billion, confirmed by both parties, is astronomical for a team that has never won the NBA title. Acquired in 1981 by Donald Sterling, husband of Shelly, for $ 12 million, the franchise was recently valued at $ 550 million by the magazine “Forbes”. However, with the upcoming renegotiation of television rights, that should trigger the value of NBA franchises will undergo a strong bullish, especially those in markets with strong potential, such as Los Angeles.

The NBA decided to compel the Sterling family to sell the team after the racist comments of Donald Sterling, who according to the American press does not accept the sale. The League commissioner, Adam Silver, Donald also decided to ban for life any activity NBA.

In a statement, Shelly Sterling declares that acts as sole trustee of the family that owns the team, though a lawyer has stated that her husband Donald needs to sign the agreement.

“I am happy to sell the team to Steve, who is a terrific owner,” says Shelley Sterling in the statement.

Ballmer emphasizes that loves basketball and that will “endeavor to ensure that the follow Clippers winning – and winning a lot – in Los Angeles.”

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