Congress has cut federal funding for public media — a $3.4 million loss for LAist. We count on readers like you to protect our nonprofit newsroom. Become a monthly member and sustain local journalism.
This is an archival story that predates current editorial management.
This archival content was written, edited, and published prior to LAist's acquisition by its current owner, Southern California Public Radio ("SCPR"). Content, such as language choice and subject matter, in archival articles therefore may not align with SCPR's current editorial standards. To learn more about those standards and why we make this distinction, please click here.
Former Microsoft CEO Plans To Pick Up The Clippers For $2 Billion
Steve Ballmer (Photo by Adam Berry/Getty Images)
()
The Clippers may finally have a new owner in former Microsoft CEO Steve Ballmer, who is reportedly paying a cool $2 billion for the team. Hopefully, the former owner and racist Donald Sterling will find he has enough paper bills to satisfactorily dry his tears with, or perhaps shove into a pile on which to wallow. What a consolation prize.
Ballmer, 58, was the chief executive of Microsoft for 14 years. He has an estimated net worth of $20 billion, L.A. Times reports.
So while Ballmer's winning bid may not be a huge chunk of change for him, it is pretty high as far as basketball teams go. It's nearly four times higher than any previous sale of an NBA franchise. It's the second highest price paid ever for a sports team, coming in under the Dodgers 2012 sale for $2.1 billion.
In order for the sale to be finalized, Sterling has to give his blessing to his wife and Clippers co-owner Shelly Sterling, who is handling the sale. Sterling has been back and forth on the issue since the scandal begin, even though he's already been banned from the NBA for life.
Support for LAist comes from
Recently, he called out Orlando Magic owner Rich DeVos for his 2009 comments against gay marriage, wondering why the Amway mogul from Michigan wasn't getting the same kind of flak.
The deal must also be approved by the other NBA owners, but as long as Ballmer agrees to not move the team to Seattle, they're expected to give him the okay.
While nothing has been finalized and there are still admittedly interested parties other than Ballmer, Shelly Sterling is expected to close a deal by Friday, TMZ reports.
As Editor-in-Chief of our newsroom, I’m extremely proud of the work our top-notch journalists are doing here at LAist. We’re doing more hard-hitting watchdog journalism than ever before — powerful reporting on the economy, elections, climate and the homelessness crisis that is making a difference in your lives. At the same time, it’s never been more difficult to maintain a paywall-free, independent news source that informs, inspires, and engages everyone.
Simply put, we cannot do this essential work without your help. Federal funding for public media has been clawed back by Congress and that means LAist has lost $3.4 million in federal funding over the next two years. So we’re asking for your help. LAist has been there for you and we’re asking you to be here for us.
We rely on donations from readers like you to stay independent, which keeps our nonprofit newsroom strong and accountable to you.
No matter where you stand on the political spectrum, press freedom is at the core of keeping our nation free and fair. And as the landscape of free press changes, LAist will remain a voice you know and trust, but the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news from our community.
Please take action today to support your trusted source for local news with a donation that makes sense for your budget.
Thank you for your generous support and believing in independent news.
Chip in now to fund your local journalism
(
LAist
)
Trending on LAist
-
With less to prove than LA, the city is becoming a center of impressive culinary creativity. -
Nearly 470 sections of guardrailing were stolen in the last fiscal year in L.A. and Ventura counties.
-
Monarch butterflies are on a path to extinction, but there is a way to support them — and maybe see them in your own yard — by planting milkweed.
-
With California voters facing a decision on redistricting this November, Surf City is poised to join the brewing battle over Congressional voting districts.
-
The drug dealer, the last of five defendants to plead guilty to federal charges linked to the 'Friends' actor’s death, will face a maximum sentence of 65 years in prison.
-
The weather’s been a little different lately, with humidity, isolated rain and wind gusts throughout much of Southern California. What’s causing the late-summer bout of gray?
Best of LAist