A charitable foundation to be run by Los Angeles Clippers co-owner Shelly Sterling, whose estranged husband, Donald Sterling, is being forced to sell the NBA team after making racist remarks, will have a stake in the franchise, a source close to negotiations said on Monday.
National Basketball Association Commissioner Adam Silver said on Sunday a single obstacle blocked completion of the $2-billion sale of the Los Angeles Clippers - a lawsuit brought by embattled owner Donald Sterling against the league.
Embattled Los Angeles Clippers owner Donald Sterling has agreed to sell the team for $2 billion and will drop his lawsuit against the National Basketball Association, his lawyer Maxwell Blecher said on Wednesday, five weeks after taped racist remarks Sterling made caused the NBA to ban him for life.
Donald Sterling bought the L.A. Clippers for 16 million and is set to sell the team for $2 billion. Here’s a look at other investments he could have made at the time, and how much less he would have made.
Donald Sterling, forced to sell his National Basketball Association team after a lifetime ban for making racist comments, is not going to be remembered as a “visionary,” “icon” or “oracle” - terms attached over the years to renowned business personalities such as Bill Gates, Steve Jobs and Warren Buffett.
The National Basketball Association said on Friday that it has reached an agreement with the estranged wife of Los Angeles Clippers owner Donald Sterling to sell the team of which she is co-owner.
Donald Sterling’s wife, Shelly Sterling, had him declared mentally unfit after he was diagnosed with Alzheimer’s, enabling her to push through an offer to buy the L.A. Clippers.
Donald Sterling, banned for life from the NBA for taped racist comments, has handed over control of the Los Angeles Clippers to his wife, according to media reports on Friday.
Embattled Los Angeles Clippers’ owner Donald Sterling said he was set up to make racist comments in a taped recording that led the National Basketball Association to ban him for life from the sport, CNN reported on Monday.
Rochelle Sterling, Donald Sterling’s wife of 59 years, has largely escaped blame in the controversy over his racist rant. But does she deserve the free pass?