Steve Ballmer outbids group including Laurene Powell Jobs for ownership of LA Clippers

Posted:
in General Discussion edited June 2014
Team Microsoft bested Team Apple on a different kind of financial battlefield this week, as former Microsoft chief Steve Ballmer is said to have outbid a group including Laurene Powell Jobs -- the widow of late Apple co-founder Steve Jobs -- for the rights to purchase the Los Angeles Clippers of the NBA.

Powell Jobs
Laurene Powell Jobs at the 2012 State of the Union address.


Powell Jobs teamed with entertainment moguls David Geffen and Oprah Winfrey as well as asset management firm Guggenheim Partners in a failed $1.6 billion bid for the team, according to the Wall Street Journal. That group was initially thought to have included Oracle CEO Larry Ellison, though his participation is now unclear.

Ballmer will pay some $2 billion for the franchise in a hasty sale arranged after the revelation of racist rantings by current Clippers owner Donald Sterling. Sterling has indicated that he may fight the sale, though the NBA has pledged to force him out one way or another.

It would have been Powell Jobs's first foray into sports ownership, though her family does have a strong -- albeit indirect -- connection to the NBA. Thanks to the 2006 sale of Pixar to Disney, Powell Jobs controls nearly 10 percent of The Walt Disney Company, which owns sports television powerhouse ESPN.

Powell Jobs has kept a relatively low profile since her husband's death, continuing the couple's tradition of quiet philanthropy. She is primarily known for her work on education initiatives, especially as the cofounder and chairman of College Track, an organization that helps prepare underprivileged students for college.
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Comments

  • Reply 1 of 69

    This sounds like the perfect role for someone with his skills and qualifications.

    Just make sure the chairs are bolted to the floor in his box when the Clippers loose.

  • Reply 2 of 69
    thewhitefalconthewhitefalcon Posts: 4,453member
    I hope he licenses Clippy to use as their new mascot.
  • Reply 3 of 69
    island hermitisland hermit Posts: 6,217member

    Actually... when the Clippers lose, Ballmer will be on the loose.

  • Reply 4 of 69

    Cool! When Balmer goes on a racist rant we will have a video of the animated tirade complete with flailing arms, sweaty armpits and spittle. 

  • Reply 5 of 69
    jungmarkjungmark Posts: 6,544member
    I wonder if Steve-O will rename the team to "Developers, Developers, Developers"
  • Reply 6 of 69

    Sports are a distraction that keeps us from knowing what's really going on in the world.  

  • Reply 7 of 69
    andysolandysol Posts: 2,506member
    jungmark wrote: »
    I wonder if Steve-O will rename the team to "Developers, Developers, Developers"
    Credit for this to TS. ;)




    Wonder how wet his shirt was from sweating while waiting on confirmation...


    Interviewer- "Lakers sign Labron James and Carmello Anthony- your take Mr. ballmer"
    Ballmer- *laughter*
  • Reply 8 of 69
    dasanman69dasanman69 Posts: 12,950member
    Sports are a distraction that keeps us from knowing what's really going on in the world.  

    And there's absolutely nothing wrong with that. Reading, music listening, and any hobby accomplishes the very same thing. People have been watching humans compete against one another since the beginning of time.
  • Reply 9 of 69
    irelandireland Posts: 17,207member
    Players! Players! Players!
  • Reply 10 of 69
    lord amhranlord amhran Posts: 902member
    This is newsworthy?
  • Reply 11 of 69
    rob53rob53 Posts: 1,879member
    What are the odds he'll try and move the Clippers to Seattle his first year?
  • Reply 12 of 69
    thewhitefalconthewhitefalcon Posts: 4,453member
    Quote:

    Originally Posted by rob53 View Post



    What are the odds he'll try and move the Clippers to Seattle his first year?

    I think that one of the tenants of the agreement is that he won't be allowed to move the team to Seattle, at least not for a while.

  • Reply 13 of 69
    lkrupplkrupp Posts: 6,068member
    Quote:

    Originally Posted by Lord Amhran View Post



    This is newsworthy?

    Yes.

  • Reply 14 of 69
    jungmarkjungmark Posts: 6,544member
    rob53 wrote: »
    What are the odds he'll try and move the Clippers to Seattle his first year?

    Seattle doesn't have a modern arena yet (Key Arena isn't modern). Also, what are the lease terms for the Staples Center. Any move would require NBA approval.
  • Reply 15 of 69
    lord amhranlord amhran Posts: 902member
    lkrupp wrote: »
    Yes.
    Other than a one-word non-reply, why don't you try explaining how the buying of a sports team is newsworthy huh? So Ballmer buys a team big deal. Other than Steve Jobs's widow how is this even remotely related to Apple or Apple news?
  • Reply 16 of 69
    blastdoorblastdoor Posts: 1,838member

    This is the perfect move -- it simultaneously increases the average intelligence of NBA owners and technology company CEOs. 

  • Reply 17 of 69
    solipsismxsolipsismx Posts: 19,566member
    Other than Steve Jobs's widow how is this even remotely related to Apple or Apple news?

    Why isn't that good enough?
  • Reply 18 of 69
    jungmarkjungmark Posts: 6,544member
    andysol wrote: »
    Credit for this to TS. ;)

    Blast! I just read his post in the other thread!
  • Reply 19 of 69
    drowdrow Posts: 120member
    At last, something the screaming ape might actually be good at.
  • Reply 20 of 69
    Quote:

    Originally Posted by dasanman69 View Post





    And there's absolutely nothing wrong with that. Reading, music listening, and any hobby accomplishes the very same thing. People have been watching humans compete against one another since the beginning of time.

     

    Sports in today's media gets focus and attention disproportionate to its importance in our world. I recommend you and other readers 'distract' yourselves by reading Brian Tuohy's book, "The Fix Is In". You can also find much of his writing at: thefixisin.net. 

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