- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Following reports on Thursday that Shelly Sterling will negotiate the forced sale of the Los Angeles Clippers, Donald Sterling‘s wife has already received inquiries from six potential buyers, according to ESPN.
Among those interested in the NBA team is Microsoft CEO Steve Ballmer, who met with her on Sunday to discuss a sale.
It is not the first sign of interest that Ballmer has shown in a basketball franchise. He was part of the effort to bring an NBA team back to Seattle following the move of the SuperSonics to Oklahoma City to become the Thunder in 2008.
“If the opportunity is outside of Seattle, so be it. I will learn about any team that comes up for sale at this point,” he told the Wall Street Journal last week. “If I get interested in the Clippers, it would be for Los Angeles,” he said, vowing that he would not move the team to the Pacific Northwest.
“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.”
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, reported ESPN.
Former NBA All-Star Grant Hill — who played for the Clippers in the 2012-2013 season — and billionaire investors and Tony Ressler and Bruce Karsh are also said to be interested in the team.
Meanwhile, the NBA has not yet confirmed whether it will allow Shelly Sterling to sell the team, and the league still intends to hold a June 3 hearing to terminate her husband’s ownership as part of his lifetime ban for alleged racist comments.
One major force that Shelly Sterling will have to contend with if she sells the team is the tax man. According to IRS law, the Sterlings will have to pay a federal long-term capital-gains tax of 20 percent and a California tax of 13.3 percent. If the team is sold for $1 billion, the taxes will amount to $328.5 million, compared with the $13.5 million price tag that Donald Sterling bought the Clippers for in 1981.
The shamed owner also owes the NBA $2.5 million in fines over his controversial comments following a harsh ruling by commissioner Adam Silver on April 29.
Sign up for THR news straight to your inbox every day