Former Microsoft CEO buys NBA team in $2 billion deal
The Los Angeles Clippers are no longer the property of Donald Sterling.
The NBA team was sold to former Microsoft CEO Steve Ballmer on Tuesday in a $2 billion deal for the team.
The sale closed following the entry of an order by a California court confirming the authority of Shelly Sterling, on behalf of the Sterling Family Trust, to sell the team.
Ballmer declared himself “humbled and honored” to take ownership of the team.
– Los Angeles Clippers (@LAClippers) August 12, 2014
“I am humbled and honored to be the new owner of the Los Angeles Clippers,” Ballmer said. “Clipper fans are so amazing. They have remained fiercely loyal to our franchise through some extraordinary times. I will be hard core in giving the team, our great coach, staff and players the support they need to do their best work on the court. And we will do whatever necessary to provide our fans and their families with the best game-night experience in the NBA.”
The team itself offered its own thoughts on the transaction via Twitter, with a tweet reading, “It’s a new day.”
The sale of the team follows a scandal-plagued year for Sterling, who was captured on a recording making racist comments. After the recording was made public, the NBA banned Sterling for life.
It also follows a protracted legal battle during which Sterling sued the NBA and his wife Shelly for fraud over the sale.