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Clippers sold for $2 BILLION

bLACKpANTHER

By bLACKpANTHER,
in Charlotte Hornets

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CarolinaPanthers8789 Newbie

CarolinaPanthers8789

Posted
Posted

Bobcats were sold so low because of debt. Johnson sold the team cheap as long as Jordan paid for the debt.

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ThinkAboutIt Newbie

ThinkAboutIt

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What a punishment for Sterling huh? lol 

 

Plus he wants a billion from the NBA for making him sell the team 

http://losangeles.cbslocal.com/2014/05/30/clippers-owner-sterling-plans-to-sue-nba-for-1b/

 

Everyone with a clue knew he'd walk away even wealthier than he started out during that scandal, so forcing him to sell the team wasn't really punishment. 

 

For someone like him, the only way to hurt him is to destroy his legacy by removing his name from places of honor and places that provide residuals. 

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ckad79 Newbie

ckad79

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The amount is insane, but how often do teams in big markets - New York, LA, Chicago - come up for sale? When they do they are usually a dumpster fire. Just look at the Yankees, when George took over in the 70's. Most people aren't going to let go of a winning franchise in a major sports markets at the height of their success.

 

If Sterling had sold the Clippers in all of the years that he was the owner, with a losing franchise, I would see this figure being silly. BUT considering the talent on that team, how they are somewhat surpassing the Lakers in their own market (Kobe's long term future is uncertain), I can see the value in that purchase.

 

Charlotte is another story. It's really a big market vs. small market issue.

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Chuckie Newbie

Chuckie

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While everyone is bashing Sterling about how he ran a shitty team for years isn't looking at the business side of his success. The Clippers may have had losing seasons for years on end and even been an irrelevant team from a fans perspective. However, the Clippers were constantly a profitable business all those years with the shitty records. Every other NBa team was losing money every year but the Clippers had a business model that that made the team profitable.

Say what you want about Sterling but he was a very smart owner on the business side. Milk the team for profits for years and ramp up the value toward the end of your life chasing a Championship. The only time the value of the team matters is when you sell.

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