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Steve Ballmer’s $2b bid for LA Clippers blocked

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Steve Ballmer's $2b bid for LA Clippers blockedThe sale of the LA Clippers basketball team to former Microsoft CEO Steve Ballmer has been blocked by the team’s owner, Donald Sterling. As you may have heard in the news–literally everyone has been talking about it–Sterling was caught saying a slew of racist things and ultimately, that led to him being ostracized. Ballmer made a $2 billion bid for the team and it was accepted by Sterling’s wife Shelly–she is currently the team’s co-owner–but because Donald refused to sign the necessary papers, Microsoft’s enthusiastic ex-CEO may not get a basketball team after all.

As part of the deal it had been reported that Sterling would drop his fight against the NBA but it turns out that Sterling is either crazy or just really doesn’t want the $2 billion. Maxwell Blecher, Sterling’s attorney, says that rather than sell the team, his client is pursuing legal action against the NBA in the form of a $1 billion lawsuit.

Steve Ballmer first announced his intention to buy the LA Clippers in May and since then, it had all but been official that the Microsoft executive would be able to purchase the team. Given the latest developments, Sterling will have to give in or else Ballmer will not be able to go through with the acquisition.

Via [The Verge]

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