Carp
DCC 4Life
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Still cool if I comment on it or is this thread just for people who want to prop him?
Additional racist comments attributed to Clippers' Donald Sterling released
- Thread starter Cotton
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You betcha, just as long as I can comment back.
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Carp
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Disgraced Los Angeles Clippers owner Donald Sterling has agreed to allow his wife, Shelly, to negotiate a forced sale of the team, sources with knowledge of the situation told ESPN.
Shelly Sterling and her lawyers have been negotiating with the NBA since her husband was banned for life by commissioner Adam Silver on April 29. While the league has yet to formally accept this arrangement, sources said if she is willing to sell the team in its entirety, this could bring a startlingly quick end to what appeared to be a protracted legal battle.
Donald Sterling has agreed to let his wife, Rochelle "Shelly" Sterling, negotiate the sale of the Los Angeles Clippers, sources told ESPN.com. Shelly Sterling is an alternate governor of the team.
The NBA filed charges to terminate Sterling's ownership of the Clippers this week. He had five business days -- until next Tuesday -- to respond to the charges. A hearing was set for June 3 in New York, with a vote of the board of governors to take place thereafter.
Sterling's lawyer, Max Blecher, responded to the charges by asking for a three-month delay. That request was immediately turned down by the NBA, sources said.
Blecher indicated in his email to the NBA that Sterling intended to fight the charges and the move to terminate his ownership, saying he did not believe he'd done anything to deserve such punishment.
But a source said that over the course of this week, Sterling has rethought his position and formally agreed to allow Shelly -- an alternate governor of the team -- to negotiate a sale.
NBA rules, however, prevent him from transferring a controlling interest in the team to anyone. A new controlling owner would need to be approved by the board of governors, and Shelly Sterling would not be approved.
It is not known whether Shelly Sterling intends to sell the team in its entirety, but that is the only way the NBA would accept the terms of this agreement between Donald Sterling and his wife, sources said.
While Shelly Sterling's lawyers have made it clear to the league that she intends to maintain her 50 percent interest in the team, they have also stated both publicly and privately that she would like to resolve the situation amicably.
The agreement between Donald Sterling and his wife was first reported by TMZ.
Shelly Sterling and her lawyers have been negotiating with the NBA since her husband was banned for life by commissioner Adam Silver on April 29. While the league has yet to formally accept this arrangement, sources said if she is willing to sell the team in its entirety, this could bring a startlingly quick end to what appeared to be a protracted legal battle.
Donald Sterling has agreed to let his wife, Rochelle "Shelly" Sterling, negotiate the sale of the Los Angeles Clippers, sources told ESPN.com. Shelly Sterling is an alternate governor of the team.
The NBA filed charges to terminate Sterling's ownership of the Clippers this week. He had five business days -- until next Tuesday -- to respond to the charges. A hearing was set for June 3 in New York, with a vote of the board of governors to take place thereafter.
Sterling's lawyer, Max Blecher, responded to the charges by asking for a three-month delay. That request was immediately turned down by the NBA, sources said.
Blecher indicated in his email to the NBA that Sterling intended to fight the charges and the move to terminate his ownership, saying he did not believe he'd done anything to deserve such punishment.
But a source said that over the course of this week, Sterling has rethought his position and formally agreed to allow Shelly -- an alternate governor of the team -- to negotiate a sale.
NBA rules, however, prevent him from transferring a controlling interest in the team to anyone. A new controlling owner would need to be approved by the board of governors, and Shelly Sterling would not be approved.
It is not known whether Shelly Sterling intends to sell the team in its entirety, but that is the only way the NBA would accept the terms of this agreement between Donald Sterling and his wife, sources said.
While Shelly Sterling's lawyers have made it clear to the league that she intends to maintain her 50 percent interest in the team, they have also stated both publicly and privately that she would like to resolve the situation amicably.
The agreement between Donald Sterling and his wife was first reported by TMZ.
L.T. Fan
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Hypocritical!Yao Ming is trying to buy the Clippers...or as he calls them, the Ras Angeres Crippers.
Carp
DCC 4Life
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That was for you...please recite some legal stuff now.Hypocritical!
L.T. Fan
I'm Easy If You Are
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Go directly to jail. Do not pass go. Do not collect $200.00.
D
Deuce
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[h=1]Shelly Sterling fielding inquiries[/h]By Ramona Shelburne | ESPN.com
Shelly Sterling has received inquiries from at least six serious bidders for the Los Angeles Clippers, sources told ESPN on Sunday. Shelly Sterling reached an agreement with her estranged husband, Donald Sterling, to negotiate a sale of the franchise after he was banned for life and fined $2.5 million by NBA commissioner Adam Silver on April 29.
Sterling's attorney, Pierce O'Donnell, is handling the sale with Bob Baradaran, a managing partner at his law firm Greenberg Glusker, and Darren Schield and Doug Watson of Beverly Hills Properties, a real estate company owned by the Sterling family.
Shelly Sterling was scheduled to meet with former Microsoft CEO Steve Ballmer on Sunday to discuss a possible sale of the team, according to a report on TMZ and later confirmed by ESPN.
While Ballmer was a part of the effort to bring the NBA back to Seattle last year, he said in a Wall Street Journal article last week that he is open to owning a team elsewhere.
"If the opportunity is outside of Seattle, so be it. I will learn about any team that comes up for sale at this point," Ballmer told the Wall Street Journal. "If I get interested in the Clippers, it would be for Los Angeles. I don't work anymore, so I have more geographic flexibility than I did a year, year-and-a half ago. Moving them anywhere else would be value-destructive."
For her part, Shelly Sterling would not consider selling the team to any group that intended to relocate the franchise, a source told ESPN.
Ballmer was photographed sitting with Silver at the Clippers-Thunder game on May 11.
Still at issue is whether the NBA will allow Shelly Sterling to control the sale of the team. The league issued a statement Friday stating it intends to proceed with a June 3 hearing that would terminate Donald Sterling's ownership of the team. The league has made it clear that it would only consider a sale of the team if Shelly Sterling sold it in its entirety.
Among the issues Shelly Sterling is considering, the source said, are the substantial tax obligations she would incur from the sale.
According to IRS rules, the Sterlings would have to pay a federal long-term capital-gains tax of 20 percent and a California tax of 13.3 percent. The tax would be on the difference between what the team was bought for and what it is ultimately sold for. If the team is sold for $1 billion, the Sterlings would be taxed $328.5 million on the sale. Sterling bought the team from Irv Levin in 1981 for $13.5 million.
Another potential ownership group consists of former NBA All-Star Grant Hill and billionaire investors and longtime Southern California residents Tony Ressler and Bruce Karsh. Sources told ESPN.com that Hill's group is already regarded by league officials as a viable contender for the Clippers.
Information from ESPN.com's Marc Stein and Darren Rovell contributed to this report.
Shelly Sterling has received inquiries from at least six serious bidders for the Los Angeles Clippers, sources told ESPN on Sunday. Shelly Sterling reached an agreement with her estranged husband, Donald Sterling, to negotiate a sale of the franchise after he was banned for life and fined $2.5 million by NBA commissioner Adam Silver on April 29.
Sterling's attorney, Pierce O'Donnell, is handling the sale with Bob Baradaran, a managing partner at his law firm Greenberg Glusker, and Darren Schield and Doug Watson of Beverly Hills Properties, a real estate company owned by the Sterling family.
Shelly Sterling was scheduled to meet with former Microsoft CEO Steve Ballmer on Sunday to discuss a possible sale of the team, according to a report on TMZ and later confirmed by ESPN.
While Ballmer was a part of the effort to bring the NBA back to Seattle last year, he said in a Wall Street Journal article last week that he is open to owning a team elsewhere.
"If the opportunity is outside of Seattle, so be it. I will learn about any team that comes up for sale at this point," Ballmer told the Wall Street Journal. "If I get interested in the Clippers, it would be for Los Angeles. I don't work anymore, so I have more geographic flexibility than I did a year, year-and-a half ago. Moving them anywhere else would be value-destructive."
For her part, Shelly Sterling would not consider selling the team to any group that intended to relocate the franchise, a source told ESPN.
Ballmer was photographed sitting with Silver at the Clippers-Thunder game on May 11.
Still at issue is whether the NBA will allow Shelly Sterling to control the sale of the team. The league issued a statement Friday stating it intends to proceed with a June 3 hearing that would terminate Donald Sterling's ownership of the team. The league has made it clear that it would only consider a sale of the team if Shelly Sterling sold it in its entirety.
Among the issues Shelly Sterling is considering, the source said, are the substantial tax obligations she would incur from the sale.
According to IRS rules, the Sterlings would have to pay a federal long-term capital-gains tax of 20 percent and a California tax of 13.3 percent. The tax would be on the difference between what the team was bought for and what it is ultimately sold for. If the team is sold for $1 billion, the Sterlings would be taxed $328.5 million on the sale. Sterling bought the team from Irv Levin in 1981 for $13.5 million.
Another potential ownership group consists of former NBA All-Star Grant Hill and billionaire investors and longtime Southern California residents Tony Ressler and Bruce Karsh. Sources told ESPN.com that Hill's group is already regarded by league officials as a viable contender for the Clippers.
Information from ESPN.com's Marc Stein and Darren Rovell contributed to this report.
D
Deuce
Guest
Apparently Sterling has accepted a $2 billion offer from former Microsoft CEO Steve Ballmer to purchase the team.
D
Deuce
Guest
If I had enough money to drop 2 bill to buy a sports franchise, I'd act that way all the time.