Sterling Family Trust Completes $2 Billion Sale of Los Angeles Clippers to Steve BallmerAugust 12, 2014 – ArticleGreenberg Glusker Press ReleaseMentioned Closing of transaction officially transfers ownership of NBA franchise Greenberg Glusker today announced the consummation of the historic sale of the Los Angeles Clippers basketball franchise by The Sterling Family Trust to former Microsoft CEO Steve Ballmer. The $2 billion transactions closed earlier today after Los Angeles Superior Court Judge Michael Levanas issued his formal ruling that Shelly Sterling had properly removed her husband Donald Sterling as co-trustee of the Trust and that the sale could be completed. The ruling followed an eight-day trial in July handled by a Greenberg Glusker trial team. O’Donnell praised the transactional team, “This was an exceptional outcome for our client. The deal value far surpassed expectations, and was achieved by drawing upon the Firm’s many disciplines while navigating challenging issues in the courts and the media.” About Greenberg Glusker Greenberg Glusker maximizes client potential by providing strategic business and legal counsel in matters involving entertainment, real estate, bankruptcy, environmental, corporate, family wealth planning, taxation, intellectual property, employment, and litigation. For more information, visit GreenbergGlusker.com.
Sterling Family Trust Completes $2 Billion Sale of Los Angeles Clippers to Steve BallmerAugust 12, 2014 – ArticleGreenberg Glusker Press ReleaseMentioned Closing of transaction officially transfers ownership of NBA franchise Greenberg Glusker today announced the consummation of the historic sale of the Los Angeles Clippers basketball franchise by The Sterling Family Trust to former Microsoft CEO Steve Ballmer. The $2 billion transactions closed earlier today after Los Angeles Superior Court Judge Michael Levanas issued his formal ruling that Shelly Sterling had properly removed her husband Donald Sterling as co-trustee of the Trust and that the sale could be completed. The ruling followed an eight-day trial in July handled by a Greenberg Glusker trial team. O’Donnell praised the transactional team, “This was an exceptional outcome for our client. The deal value far surpassed expectations, and was achieved by drawing upon the Firm’s many disciplines while navigating challenging issues in the courts and the media.” About Greenberg Glusker Greenberg Glusker maximizes client potential by providing strategic business and legal counsel in matters involving entertainment, real estate, bankruptcy, environmental, corporate, family wealth planning, taxation, intellectual property, employment, and litigation. For more information, visit GreenbergGlusker.com.
