Shelly Sterling to Get Floor Seats, Parking Spaces, Championship Rings in Clippers Deal
Her $2 billion agreement to sell the team to former Microsoft CEO Steve Ballmer would make her “owner emeritus,” a deal that was reached after doctors ruled that Donald Sterling had a cognitive impairment.
If Shelly Sterling’s deal to sell the Clippers to former Microsoft CEO Steve Ballmer goes through, Donald Sterling’s wife will become “owner emeritus” of the team, a title that includes a number of perks.
With the owner emeritus title, Shelly gets two floor seats for all home games, five stadium parking spaces and, if the Clippers win their first NBA title, three championship rings, The New York Times reports, detailing a number of behind-the-scenes tidbits about the deal. The Hollywood Reporter has confirmed that the Times report is accurate.
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The Times also divulged other details, including the amounts of the losing bids for the franchise: $1.2 billion from a group led by Grant Hill and $1.6 billion from a group led by David Geffen, which also included Larry Ellison and Oprah Winfrey.
The Times also reports that Shelly insisted that Ballmer keep the team in Los Angeles as a condition of the sale, something the former Microsoft CEO has since indicated he intends to do, but there’s no clause in the term sheet that would prevent him from moving the franchise. Still, the league could require that the team stay in L.A. before it approves the sale, the Times adds.
The Times reports that when Donald refused to agree to the sale, Shelly’s lawyer suggested that they proceed with “Plan B,” which involved Donald undergoing neurological testing.
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According to a provision in the trust, if either owner were found to have a cognitive impairment, the other could become sole trustee.
Donald consented to the test, on Shelly’s urging, after he gave a rambling interview to CNN’s Anderson Cooper. Two doctors found Donald to be affected by cognitive impairment, the Times reports.