[net-gold] SPORTS: BASKETBALL: PROFESSIONAL : SPORTS: MANAGEMENT AND ADMINISTRATION: Steve Ballmer's $2 Billion Play for Clippers Is a Big Bet on the N.B.A.
- From: "David P. Dillard" <jwne@xxxxxxxxxx>
- To: Net-Gold -- Educator Gold <Educator-Gold@xxxxxxxxxxxxxxx>, net-gold@xxxxxxxxxxxxx, Net-Gold <Net-Gold@xxxxxxxxxxxxxxx>, NetGold <netgold@xxxxxxxxxxxxxxx>, K-12ADMINLIFE <K12ADMIN@xxxxxxxxxxxxxxxxxxx>, K12AdminLIFE <K12AdminLIFE@xxxxxxxxxxxxxxx>, MediaMentor <mediamentor@xxxxxxxxxxxxxxx>, Nabble Groups Net-Gold <ml-node+s3172864n3172864h56@xxxxxxxxxxxxx>, Net-Platinum <net-platinum@xxxxxxxxxxxxxxx>, Sean Grigsby <myarchives1@xxxxxxxxxxxxxxx>, Net-Gold <NetGold_general@xxxxxxxxxxxxxxxxx>, Temple Gold Discussion Group <TEMPLE-GOLD@xxxxxxxxxxxxxxxxxxx>, Temple University Net-Gold Archive <net-gold@xxxxxxxxxxxxxxxxxxx>, "Net-Gold @ Wiggio.com" <netgold@xxxxxxxxxxxxxx>, Health Lists -- Health Diet Fitness Recreation Sports <healthrecsport@xxxxxxxxxxxxxxx>, HEALTH-RECREATION-SPORTS-TOURISM@xxxxxxxxxxxxxxxxxxx
- Date: Fri, 30 May 2014 15:21:32 -0400 (EDT)
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SPORTS: BASKETBALL: PROFESSIONAL :
SPORTS: MANAGEMENT AND ADMINISTRATION:
Steve Ballmer's $2 Billion Play for Clippers Is a Big Bet on the N.B.A.
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Steve Ballmer's $2 Billion Play for Clippers Is a Big Bet on the N.B.A.
By Ken Belson and Richard Sandomir
May 30, 2014
New York Times
http://www.nytimes.com/2014/05/31/sports/basketball/steven-a-ballmers-
2-billion-play-for-clippers-is-a-big-bet-on-the-nba.html
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A shorter URL for the above link:
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http://tinyurl.com/n2sce2y
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To most sports fans, player salaries, new stadiums and team sales always
seem excessive. Whether it was Nolan Ryans $1 million salary, George
Steinbrenner paying $10 million for the Yankees or Jerry Jones spending
$1.3 billion for a new Cowboys stadium, the numbers were considered
eye-popping at the time.
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Add Steve Ballmers $2 billion offer for the Los Angeles Clippers to the
list of sports deals that seem to make no sense.
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Ballmer, the former Microsoft chief executive, appeared willing to pay
three and a half times more than what the team was recently valued at by
Forbes.
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The bid was also 20 percent more than the next closest offer for the
franchise, which had been a perennial doormat, has never made it past the
second round of the N.B.A. playoffs and does not own an arena. He would
inherit a team held by Donald Sterling, who was barred from the N.B.A. for
life after making racist comments and is widely considered to be one of
the leagues worst owners.
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Yet deals for pro sports team seldom resemble ordinary business
transactions. They involve incredibly wealthy people who willingly spend
hundreds of millions of dollars to shine in the civic spotlight and rub
shoulders with other owners in a very exclusive club.
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Ballmer would appear to be a likely candidate to join that group. He left
Microsoft in February, is reportedly worth about $20 billion and is 58
years old. His interest in the Clippers might also have been fueled by his
failure last year to buy the Sacramento Kings and move them to Seattle,
which appears unlikely to get a new franchise any time soon.
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This comes on the heels of Ballmer going through a wretched fight for the
Kings, and hes leaving Microsoft and wondering about what to do next, said
Marc Ganis, who advises owners and potential owners. Now hell be a hero
for stepping up to take over a franchise that the nation wants taken away
from Donald Sterling. He will ride in on his shiny steed.
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The complete article may be read at the URL above.
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Sincerely,
David Dillard
Temple University
(215) 204 - 4584
jwne@xxxxxxxxxx
http://workface.com/e/daviddillard
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