Steve Ballmer Submits $2 Billion Bid to Buy the Los Angeles Clippers

Steve Ballmer

Former Microsoft chief executive Steve Ballmer appears to have won a frenetic bidding war for ownership of the Los Angeles Clippers, with a $2-billion offer that would set a record price for an NBA team. Ballmer bid higher than competitors that included Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers. The Geffen group offered $1.6 billion and the Ressler-Karsh group $1.2 billion. People familiar with both those offers said they were rejected. Ballmer and the Clippers owners, Donald and Shelly Sterling, had not finalized a deal by late Thursday afternoon. Bobby Samini, an attorney for Donald Sterling, said as he left the team owner’s home: “There’s been no sale. There can be no sale without Donald’s signature.”

Read the full story at The Los Angeles Times.

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