#Note2Self take a page from the 1 percent folks- nothing is personal; its an opportunity AND Everything is a game - purchase some MSG shares ..:D If youve been keeping up with the reality show The Sterlings Heres an update - put a win in their column and one for V. Stiviano who as late as last week still had Donald professing his love for her. (insert your own definition for Love: here) Edit to add: Shaunie ONeal executive producer Basketball Wives, when asked by TMZ, said who knows if V. Stiviano will be invited to the BW reality show, So in this last episode we find the Sterlings scrambling to sell The Clippers. If you recall, Donald Sterling was caught on tape uttering racist remarks to his mistress about being seen in public with black men -especially Magic Johnson - who it seems is Sterlings self-imagined nemesis. Sterling alleged racist rant got him banned for life from the NBA. Not Shelly Sterling, however, who also owns half of the clippers. Earlier this week, Sterling begrudgingly gave his wife written authority to sell the Clippers-and Shelly decided to sell the team Donald bought for $12.5 million back in 1980 after publicly stated she wouldnt. Shelly meet time; time meet Shelly... Enter June 3rd when NBA owners are scheduled to meet and expected to vote to force the sale of The Clippers . Shelly Sterling, seemingly a new acquaintance with Time, set a deadline for Wednesday 5 pm for all bids to be in for the sale of The Clippers. THE (possible) STRATAGEM: Control the sale of The Clippers, mitigate their tax bill and have a say in who purchases their beloved team ...i.e., anyone BUT Earvin Magic Johnson. RESULT: The Sterlings pocket around $2 billion before taxes for Donalds potty mouth? Reportedly a long-time friend Antony Ressler, private equity firm co-founder, Ares Management, prepared and submitted an aggressive bid for the team. Shelly allegedly contacted Bank of America to handle the transaction - and at least three other bids followed : One from Magic Johnson and Guggenheim Partners; David Geffens group which includes Oprah Winfrey and Oracle Chief Executive Officer Larry Ellison and Ex-microsoft CEOs Steve Ballmers winning bid for up to $2 billion. Yes, Steve Ballmers net worth is reported to be $19 billion - so whats $2 billion but 10 percent of his net worth... So whats left? NBA owners to vote on the deal; Theres two years left on the Clippers television rights contract with Fox estimated worth $20-$25 million... no word on if Sterling continues to earn that money... NBA Negotiations for new television rights is upcoming - according Bloomberg analysts in the hunt for media content: sports reign supreme especially basketball. Theres a good chance - Ballmer will see a return on his purchase quickly - that is if the NBA owners approve the sale... Stay tuned...
Posted on: Fri, 30 May 2014 11:24:39 +0000
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