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Fmr. Microsoft CEO Steve Ballmer to Buy Clippers for Record $2 Billion

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Former Microsoft chief executive Steve Ballmer won a frenetic bidding war for ownership of the Los Angeles Clippers, with his $2-billion offer setting a record price for an NBA team, The Times has learned.

microsoft-ballmer

Former Microsoft CEO Steve Ballmer will be the controlling partner for the Clippers’ new ownership group. (Credit: EPA)

Ballmer, who was chief executive of Microsoft for 14 years, was chosen over competitors that included Los Angeles-based investors Tony Ressler and Steve Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers.

A person with knowledge of the negotiations said the Geffen group bid $1.6 billion and Ressler at $1.2 billion.

The sale price is almost four times the highest previous NBA franchise sale price — the $550 million paid earlier this month for the Milwaukee Bucks. It is second only to the Dodgers 2012 sale for $2.1 billion as the highest price for any sports team in North America.

Click here to read the full story at LATimes.com.