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

Thu May 29, 2014 7:51pm EDT
 
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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.

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)

 
Microsoft Chief Executive Steve Ballmer answers questions at the company's annual shareholder meeting in Bellevue, Washington in this file photo taken November 19, 2013. REUTERS/Jason Redmond/Files