LA Clippers: Most Expensive Sports Franchise in North America

Shelly Sterling announced on yesterday (August 12) that the Los Angeles Clippers was finally SOLD!!  The franchise was purchased for $2 billion by former Microsoft CEO Steve Ballmer.  The record-setting sale was the largest ever for a NBA team and also the most paid for ANY north American sports franchise.

“I am thrilled that the Clippers now have such a wonderful new owner,” said Shelly Sterling. “I am happy for the team, the fans, the sponsors and the City of Los Angeles.”

Donald Sterling’s estranged wife made the deal with Ballmer back in late May. Due to her husband’s legal battle to try and revoke her authority as a trustee, this prolonged the $2 billion to be finalized.

Things turned to her favor yesterday morning as the court confirmed her authority as a trustee.

“It has been a privilege and an honor to represent Shelly and her family trust in this historic process,” said Pierce O’Donnell, lead counsel with the Greenberg Glusker law firm. “This victory would not have been possible without the skill, dedication and professionalism of my colleagues at Greenberg Glusker.”

 

Although the Sterling’s trust is now $2 billion richer, the Clippers will remain their number one team.

“I am confident that Steve will bring the city a championship team in the very near future,” said Shelly Sterling. “I cannot wait for the new season to begin.”

SOURCE Greenberg Glusker