Former Microsoft CEO Steve Ballmer Buys Clippers for $2B: Report

Published May 29, 2014

| Reuters

Former Microsoft Corp (MSFT) chief executive Steve Ballmer has won the bidding for the NBA's Los Angeles Clippers franchise with a $2 billion offer, a source with knowledge of the bidding said on Thursday.

Ballmer outbid two groups, one led by media mogul David Geffen that offered $1.6 billion and another from Los Angeles investors who bid $1.2 billion. The Los Angeles Times first reported the purchase Thursday evening.

An official representing Ballmer had no immediate comment.

The Clippers came up for sale after the NBA banned owner Donald Sterling for life because of racist remarks he made in a recorded conversation that was leaked last month to TMZ.com.

Sterling, who has vowed to fight the NBA's punishment, would have to approve the sale, as would league owners. 

(Reporting by Ron Grover; Editing by Eric Walsh)

 

URL

http://www.foxbusiness.com/industries/2014/05/29/former-microsoft-ceo-steve-ballmer-buys-clippers-for-2b-report/