Ex-Microsoft CEO Ballmer to buy NBA's LA Clippers for $2 billion: source

Reuters News
Posted: May 29, 2014 7:28 PM

LOS ANGELES (Reuters) - Former Microsoft Corp chief executive Steve Ballmer has won the bidding for the NBA's Los Angeles Clippers franchise with a $2 billion offer, a source with knowledge of the bidding said on Thursday. Ballmer outbid two groups, one led by media mogul David Geffen that offered $1.6 billion and another from Los Angeles investors who bid $1.2 billion. An official representing Ballmer had no immediate comment.

The Clippers came up for sale after the NBA banned owner Donald Sterling for life because of racist remarks he made in a recorded conversation that was leaked last month to TMZ.com.

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Sterling, who has vowed to fight the NBA's punishment, would have to approve the sale, as would league owners.

(Reporting by Ron Grover; Editing by Eric Walsh)