Former Microsoft CEO Steve Ballmer won a bidding war for ownership of the Los Angeles Clippers, with his $2-billion offer setting a record price for an NBA team.
The LA Times reports, that Ballmer, who was chief executive of Microsoft for 14 years, was chosen over several competitors. Interestingly, ESPN.com, cites Jimmy Iovine – who just came into a little Apple windfall – as part of a group bidding for the L.A. Clippers along with Guggenheim Partner principals, co-founder Mark Walter and president Todd Boehly, that also includes entertainment mogul David Geffen, Oracle software co-founder Larry Ellison, TV personality Oprah Winfrey, Steve Jobs’ widow Laurene and Steve Wynn’s ex-wife Elaine.
The sale price is almost four times the highest previous NBA franchise sale price — the $550 million paid earlier this month for the Milwaukee Bucks. It is second only to the Dodgers 2012 sale for $2.1 billion as the highest price for any sports team in North America.
The tentative deal still must receive the blessing of her husband, Donald Sterling and eventual approval of 29 other NBA owners.
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