NBA Approves Steve Ballmers $2B Bid to Buy Clippers The NBA has approved former Microsoft CEO Steve Ballmers $2 billion bid to buy the Los Angeles Clippers, the league said in a statement on Friday. The NBA, Shelly Sterling and the Sterling Family Trust today resolved their dispute over the ownership of the Los Angeles Clippers. Under the agreement, the Clippers will be sold to Steve Ballmer, pending approval by the NBA Board of Governors, and the NBA will withdraw its pending charge to terminate the Sterlings’ ownership of the team, the league said in a statement. Tuesdays scheduled NBA Board of Governors meeting has been canceled with former Clippers owner Donald Sterling. Because of the binding agreement to sell the team, the NBA termination hearing that had been scheduled for June 3 in New York City has now been cancelled. Mrs. Sterling and the Trust also agreed not to sue the NBA and to indemnify the NBA against lawsuits from others, including from Donald Sterling, the statement continued. Sterling is still banned from all NBA activities moving forward and has to pay a $2.5 million-dollar fine the league slapped him with. #y101fm #fm #radio #internetradio #cebu #PBBbffproblems #E3SongsFromTheCouch
Posted on: Mon, 02 Jun 2014 15:27:11 +0000
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