Greenberg Glusker Receives M&A Advisor Turnaround Award for Sale of the Los Angeles ClippersJanuary 20, 2015 – Article
Following a call over Memorial Day weekend from Los Angeles Clippers co-owner Shelly Sterling, Greenberg Glusker attorneys fielded calls from over 20 bidders interested in purchasing the team. Parallel negotiations with three bidders took place before securing the final and historic $2 billion sale of the team to former Microsoft CEO Steve Ballmer. The deal was consummated in record time – less than a week and before the National Basketball Association’s scheduled hearing with Donald Sterling to likely seize the team through a forced sale.
“We took a full-court press approach to the sale of the team,” said Bob Baradaran, managing partner of Greenberg Glusker and lead attorney on the sale transaction. “In order to secure the historic $2 billion sales price, we were able to leverage expertise from many practices within the Firm—corporate, real estate, tax, intellectual property, employment, trusts and estates, and litigation,” which streamlined the sale process.
To view full article, click here