Bob Baradaran

Managing Partner
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Clippers sale to Ballmer is completed

August 12, 2014Article
The Deal Pipeline

Five months after tapes were released revealing Los Angeles Clippers' owner Donald Sterling making racist comments to his mistress, the team officially finds itself in the hands of new ownership. The National Basketball Association on Tuesday announced that former Microsoft Corp. CEO Steve Ballmer officially closed his $2 billion purchase of the Clippersfrom the Sterling Family Trust,the entity that owned the team.

Donald Sterling's wife, Shelly Sterling, initially announced the sale on May 30. "I am humbled and honored to be the new owner of the Los Angeles Clippers," Ballmer said in a statement via NBA.com. "This is an amazing new day in Clippers history," added Clippers' president of basketball operations and head coach, Doc Rivers, in the same statement. "I couldn't be more excited to work together with Steve as we continue to build a first-class, championship organization." The NBA Board of Governors has also approved the sale, according to the statement.

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