Ballmer buys a basketball team
 

Former Microsoft CEO Steve " there is a kind of hush" Ballmer has finally found something to shout about – he has bought the LA Clippers, a basketball team in the NBA.

Apparently Ballmer's will write a cheque of $2 billion for the team which is a new record price for an NBA team.

Ballmer left Microsoft this past February and has a net worth of $20 billion.

Ballmer has been in talks with the wife of the owner of NBA's Los Angeles Clippers basketball team after Donald Sterling who bought the team in June, 1981, for $12.5 million, was ruled too insane to stop the deal.

Apparently Sterling did not want to sell the team, however The Sterling Family Trust owns the team, with Donald and his wife Shelly each owning half. The trust spells out provisions and procedures related to the mental capacity of the trustees, and Donald Sterling did not meet the standard in a determination by experts, giving his wife sole decision-making power for the trust.

Sterling was caught insulting African-Americans in a secret audio recording, prompting the need to find a new owner of the basketball team as a result.

Under the deal Ballmer gets all of the team, though Shelly Sterling still could be involved in the franchise in some other capacity.

The deal is apparently tentative, as 29 other NBA owners need to offer their approval as well, but that shouldn't be a problem as long as Ballmer reaffirms his commitment of keeping the Clippers in Los Angeles and agrees to stop shouting for a minute.

http://news.techeye.net/business/bal...asketball-team