OT: Donald Sterling

[SO91]

I can't believe I just saw this today. LOL

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[Southpaw]

Now he could bring suit against the NBA for forcing the sale and creating the premature tax hit. Maybe.

One huge aside to this whole sale event is the owners do not have to vote on expulsion, thus opening that dark closet of exemption from anti trust law.

The $2 BILLION sale price is one helluva bribe. Now let the NBA dictate to Stevie B and tell him he can't move to Seattle.

 

[Southpaw]

The new face of the NBA. Now tell me who is bat crap crazy.

 

[AzStevenCal]

The new face of the NBA. Now tell me who is bat crap crazy.

I've been to too many of these kind of things to pass judgement against that video. It's supposed to get the blood pumping and motivate you to go back to your office and give that little extra bit. A lot of companies do this. It's not always the CEO but it's not uncommon. IOW, he may well be crazy but this video is not evidence of such IMO.

Steve

 

[Southpaw]

I've been to too many of these kind of things to pass judgement against that video. It's supposed to get the blood pumping and motivate you to go back to your office and give that little extra bit. A lot of companies do this. It's not always the CEO but it's not uncommon. IOW, he may well be crazy but this video is not evidence of such IMO.

Steve

I wasn't making a serious connection. I though the humor was evident. Guess not.

 

[AzStevenCal]

I wasn't making a serious connection. I though the humor was evident. Guess not.

My bad. In that case, crazy, man, like crazy.

Steve

 

[Southpaw]

Now he could bring suit against the NBA for forcing the sale and creating the premature tax hit. Maybe.

One huge aside to this whole sale event is the owners do not have to vote on expulsion, thus opening that dark closet of exemption from anti trust law.

The $2 BILLION sale price is one helluva bribe. Now let the NBA dictate to Stevie B and tell him he can't move to Seattle.

I want a gold star. Just reported that Donald Sterling is suing the NBA for in excess of $1 Billion.

http://www.cbssports.com/nba/eye-on-basketball/24577152/donald-sterling-to-file-1-billion-lawsuit-against-the-nba

Settlement or trial? NBA has to pop for the $1 billion IMO.

 

[Cheesebeef]

this story is the sports equivalent of the SNL sketch THE GUEST THAT WOULDN'T LEAVE.

 

[AzStevenCal]

I want a gold star. Just reported that Donald Sterling is suing the NBA for in excess of $1 Billion.

http://www.cbssports.com/nba/eye-on-basketball/24577152/donald-sterling-to-file-1-billion-lawsuit-against-the-nba

Settlement or trial? NBA has to pop for the $1 billion IMO.

You can have the gold star if you want, I'm sure I have a couple laying around. But a lawsuit by Sterling has been assumed from the moment Silver held his speech. He's notoriously litigious. I just wish it had come to a refusal on his part following an owner vote to oust him. The lawsuits would have been flying both directions. It would be interesting to see if he liked being sued by billionaires as much as he liked to sue in the first place. But I think his lawsuit is probably doomed.

Steve

 

[Phrazbit]

If what they're saying is true and Donald was ruled "incapacitated" by doctors, which then transferred ownership to a trust that Sterling created specifically to run things if he got incapacitate, then I doubt Sterling's suit against the NBA will do much outside of using up a lot of retainers. Ownership of the franchise transferred to the trust, then the trust sold the team and the NBA can sit back and say "we had nothing to do with that"... which they didnt.

 

[AzStevenCal]

If what they're saying is true and Donald was ruled "incapacitated" by doctors, which then transferred ownership to a trust that Sterling created specifically to run things if he got incapacitate, then I doubt Sterling's suit against the NBA will do much outside of using up a lot of retainers. Ownership of the franchise transferred to the trust, then the trust sold the team and the NBA can sit back and say "we had nothing to do with that"... which they didn't.

From the league perspective, it's even better than that. The trust/Shelly agreed to an indemnification clause whereby any suit Donald files and wins/settles against the NBA will actually be paid from the trust which includes Donald's money in addition to the sum being paid by Ballmer. IOW, if Donald wins he's going to have to pay himself off.

Steve

 

[elindholm]

It kind of sounds like Mrs. Sterling is getting the last laugh, after all of the years of putting up with her husband's infidelity and other humiliations.

 

[Cheesebeef]

Sterling's now effective suing...himself?! This just gets better and better.

 

[Cheesebeef]

and it just gets better as someone unleashes a V. Stiviano tape of...HER TRASHING BLACK PEOPLE!

This is awesome.

https://tv.yahoo.com/news/v-stiviano-trashes-black-people-tape-video-174700022.html

 

[Covert Rain]

It was a given he was going to file a lawsuit. Now we have mental incapacity claims, another tape....OMG.

Don't look now. The National Enquirer is really jealous right now. LOL. I agree with Cheesebeef....this is awesome!

 

[sunsfan88]

How could it not have gained value? There's no way that team was worth 2 billion before this. What other franchise in the country would be worth that, the Cowboys and Yankees? This is the Clippers we're talking about. It doesn't make good business sense so I have to wonder how much the NBA is sweetening up this deal.

Bottom line is it takes a whole lot of money to force someone to sell something they don't want to. I'm also pretty sure there are a few lawyers around that will keep him from taking much of a hit on this sale.

Donald Sterling himself put the value of the Los Angeles Clippers at under $300 million during a 2009 deposition in a Justice Department federal housing discrimination lawsuit.

Sterling, answering questions about a balance sheet for the Sterling Family Trust, through which he and Shelly co-own the Clippers franchise, said he thought that figure might even be too high.

"It was an estimate," he testified. "I don't know if the Clippers are worth $300 million. I think less. All the teams are for sale, and they're borrowing money now. And people aren't buying the tickets."

Sterling's controversial statements may have even increased the purchase price of the Clippers to the $2 billion figure paid by Steve Ballmer.

"If Donald Sterling had put this team up for sale six months ago, before he ran his mouth, this team would have gotten $700 [million] to $750 [million]," said John Moag, chief executive of Moag & Co. "This team has gotten a lot of attention, and literally overnight it changed this team's brand."

http://www.latimes.com/business/la-fi-ballmer-clippers-price-20140531-story.html#page=1

 

[JCSunsfan]

The $2 billion price tag for the Clippers is a reflection of our present economy. We have a wealthy class that is becoming much more wealthy, a declining middle class, and a growing welfare class. The rich simply have much more money to play with.

Also, its LA. The Lakers are in disarray and there is a chance to take over the LA "darling" role.

There is alot of money out there. The fed has been pumping into the economy for 8 years. Its just a few people that have it, and they can buy sports teams.

 

[Southpaw]

The $2 billion price tag for the Clippers is a reflection of our present economy. We have a wealthy class that is becoming much more wealthy, a declining middle class, and a growing welfare class. The rich simply have much more money to play with.

Also, its LA. The Lakers are in disarray and there is a chance to take over the LA "darling" role.

There is alot of money out there. The fed has been pumping into the economy for 8 years. Its just a few people that have it, and they can buy sports teams.

Yes. Ballmer is stupid rich, but I wouldn't doubt that the other NBA owners are background shadow partners.

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[sunsfan88]

LOL @ this guy being the new Clippers owner

http://www.gamesindustry.biz/articl...ft-ceo-steve-ballmer-named-as-forbes-worst-co

 

[Phrazbit]

The Clippers wont be moving to Seattle. About half that 2 billion dollar price tag came because of the market the Clippers are currently in. Moving the Clippers to Seattle would rack up several hundred million more in costs (relocation fee, helping finance a new arena), while at the same time reducing the value of the franchise by half.

Its not happening.

 

[devilalum]

The Clippers wont be moving to Seattle. About half that 2 billion dollar price tag came because of the market the Clippers are currently in. Moving the Clippers to Seattle would rack up several hundred million more in costs (relocation fee, helping finance a new arena), while at the same time reducing the value of the franchise by half.

Its not happening.

Yeah Seattle is definitely a small market.

 

[TucsonDevil]

The Clippers wont be moving to Seattle. About half that 2 billion dollar price tag came because of the market the Clippers are currently in. Moving the Clippers to Seattle would rack up several hundred million more in costs (relocation fee, helping finance a new arena), while at the same time reducing the value of the franchise by half.

Its not happening.

This doesn't make sense. The best financial sport minds ran the numbers and found that the maximum number to make a profit from the franchise would have been $700 price tag. Therefore, he already is in the hole $1.3 B. He has no intention of using this new purchase as an investment - or even a business. It is strictly an entertainment purchase.

If you except that premise, why would moving the team be out of the question? I don't believe he will, because LA is a great place to live and vacation. Keep in mind however, the Seattle fans might embrace this team much more than fickle LA fan in the coming years. And he might just want to have his toy in his hometown, regardless of the expense to move it.

btw, I heard a funny line the other day: The OKC Thunder is the best thing to come out of Seattle.

 

[Errntknght]

According to ESPN Donald Sterling will drop his lawsuit against the NBA and let te sale go through - they attribute the change to Mrs. Sterling indemnifying the league against any such suit.

 

[TJ]

Suit back on. This guy is out of touch with reality.

 

[Superbone]

Suit back on. This guy is out of touch with reality.

Especially since he's just suing himself:

An individual familiar with the negotiations who wasn't authorized to speak publicly said Monday that there were two options for Donald Sterling - to either sign or go to court. But even if he wins in court, he's ultimately winning a judgment against himself because his wife Shelly Sterling has agreed to indemnify the NBA against all lawsuits, including by her husband, the individual said.