Every week, TicketForce brings you news on one of four industries: racing, sports, theatre, or music. This week’s #SportsWrap is an update on the last #SportsWrap about Donald Sterling and the future of the Los Angeles Clippers.
Shelly Sterling, Donald Sterling’s estranged wife, announced she has signed an agreement to sell the team to former Microsoft chief executive, Steve Ballmer, for $2 billion. Sterling was acting under her authority as the sole trustee of the Sterling Family trust, which owns the Clippers. This deal is proceeding despite the threat of legal actions by Donald Sterling.
“I am delighted that we are selling the team to Steve, who will be a terrific owner," Sterling said in a statement. "We have worked for 33 years to build the Clippers into a premiere NBA franchise. I am confident that Steve will take the team to new levels of success."
The agreement will now be sent to the NBA for final approval. The league office must approve it, and Ballmer must be approved by three-fourths of the league’s owners.
The NBA can decide to go ahead with the Board of Governors meeting and gets the necessary 75 percent minimum vote to oust the current Clippers ownership group. If that happens, neither Donald nor Shelly will have the right to sell the team and this whole process could start over again with the NBA conducting the sale.
To read the full story, click here. What are your thoughts on this deal?