Steve Ballmer outbids group including Laurene Powell Jobs for ownership of LA Clippers
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.
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.
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.
Comments
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.
Actually... when the Clippers lose, Ballmer will be on the loose.
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.
Sports are a distraction that keeps us from knowing what's really going on in the world.
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*
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.
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.
This is newsworthy?
Yes.
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.
This is the perfect move -- it simultaneously increases the average intelligence of NBA owners and technology company CEOs.
Why isn't that good enough?
Blast! I just read his post in the other thread!
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.