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Ex-Microsoft CEO Steve Ballmer to Buy Clippers for $2 Billion

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Former Microsoft CEO Steve Ballmer has submitted a winning bid of $2 billion to buy the Los Angeles Clippers. Ballmer’s bid beat out bids from groups led by David Geffen ($1.6 billion) and L.A. investors Tony Ressler and Steve Karsh ($1.2 billion). If finalized, the $2 billion price tag would be the second-most ever for a North American professional sports franchise. The first was when the Los Angeles Dodgers were sold in 2012 for $2.1 billion. As for NBA franchises, it’s well ahead of the $550 million paid for the Milwaukee Bucks earlier this year. Ballmer, now 58, was CEO of Microsoft from 2000 to 2014 and reportedly worth $20 billion. The prospective sale by Clippers co-owner Shelly Sterling still needs the approval of her husband, Donald Sterling, who recently caught fire for his racist remarks. The 29 other NBA owners need to give the green light here also, but that shouldn’t be an issue as long as Ballmer vows to keep the team in LA and not move it to Seattle where he lives. (via LA Times)