News: Diddy, Dr. Dre & Rick Ross Come Up Short, LA Clippers Sold For Billions
Friday, May 30, 2014 9:44AM
Music moguls Diddy, Dr. Dre and Rick Ross are going to have to try investing in another sports franchise as reports claim the Los Angeles Clippers have been sold for over a billion dollars. #Sold
According to reports, former Microsoft chief executive Steve Ballmer has agreed to pay two billion dollars for the star-studded team.
Ballmer bid higher than competitors that included Los Angeles-based investors Tony Ressler and Bruce Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers. The Geffen group offered $1.6 billion and the Ressler-Karsh group offered $1.2 billion. Those offers were rejected, according to several people involved in the negotiations who asked not to be named because of the sensitivity of the bidding. (SF Gate)
Ballmer made a name for himself during a decade-long run at Microsoft.
After Bill Gates left the helm of the company he founded, Ballmer took over as Microsoft's CEO in January 2000. But Ballmer, who has been with Microsoft since 1980 and was the company's first business manager, announced he would retire as CEO on Feb. 4, 2014. (ABC News)
Reports earlier this week revealed ousted owner Donald Sterling's wife would begin taking offers.
Shelly Sterling will accept offers this week to buy the Los Angeles Clippers ... and a frontrunner is a group led by former Microsoft CEO Steve Ballmer ... TMZ Sports has learned. We broke the story ... Shelly met with Ballmer Sunday at her Malibu home, and our sources say his group made "a very competitive offer." Sources tell us .. Shelly and her lawyer Pierce O'Donnell have put the word out ... they'd like to make a deal THIS WEEK. We're also told NBA Commissioner Adam Silver is aware of what she's doing. O'Donnell would not comment but we're told Shelly and Silver have an open line of communication. (TMZ)
Earlier this month, bogus reports about music mogul Dr. Dre purchasing the Clippers hit the Internet.
An article saying Los Angeles Clippers owner Donald Sterling sold his team to Dr. Dre is fake. The article, titled "Donald Sterling Accepts Dr. Dre's Bid to Buy Los Angeles Clippers for $1 Billion Cash," was posted on Cream Bmp Daily, a "satire" website. According to Cream's disclaimer, the website doesn't post real news. (The Epoch Times)