Ballmer buys L.A.Clippers
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..
Ballmer, who was chief executive of Microsoft for 14 years, was chosen over 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, according to three individuals familiar with the negotiations.
One of the individuals with knowledge of the negotiations said the Geffen group bid $1.6 billion and Ressler at $1.2 billion.
http://www.latimes.com/sports/la-sp-sn-clippers-sale-ballmer-20140529-story.html