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Sterling to make $2 billion profit from forced sell
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Sterling to make $2 billion profit from forced sellPosted:

Tywin
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Former Microsoft chief executive Steve Ballmer has submitted a bid of $2 billion to buy the Los Angeles Clippers, sources have confirmed to ESPN.

Sources tell ESPN.com's Darren Rovell that Ballmer's bid is the highest so far, topping bids from groups led by David Geffen ($1.6 billion) and L.A. investors Tony Ressler and Steve Karsh ($1.2 billion). Geffen confirmed to ESPN on Thursday night that his group was out of the bidding.

Ballmer, 58, was CEO of Microsoft from 2000-14 and reportedly is worth $20 billion. He was the only investor that did not immediately seek out other partners when preparing a bid.


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Keep in mind that Sterling only paid $12.5 million for the Clippers when he bought them.
Plus, he shouldn't be forced to sell his team in the first place.
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Cen
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He made a solid investment, I guess. Why is this big news, though?
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The guy says a few 'discriminating' words, the world hates him, and he is forced to sell his team. Yet makes a 2 billion dollar profit. Who do you really think won?

Good job America.
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Crosby wrote The guy says a few 'discriminating' words, the world hates him, and he is forced to sell his team. Yet makes a 2 billion dollar profit. Who do you really think won?

Good job America.


Definitely not Sterling... he got a shitload of bad publicity and had to cash in on an investment early.
#5. Posted:
Tywin
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Cen wrote He made a solid investment, I guess. Why is this big news, though?


Because he is being forced by the NBA to sell his team as a punishment but in reality he is cashing out from it.

Cen wrote
Crosby wrote The guy says a few 'discriminating' words, the world hates him, and he is forced to sell his team. Yet makes a 2 billion dollar profit. Who do you really think won?

Good job America.


Definitely not Sterling... he got a shitload of bad publicity and had to cash in on an investment early.


Sterling won.

He didn't "cash in early" at all.
He is getting 160 times more than what he paid for it.

Who cares about "bad" publicity.
#6. Posted:
Ever
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You all think Sterling cares about how us average Americans or anyone else around the world feel about him? Hell, he is gonna be relaxing and not caring what people are saying about him.



tl;dr He's hella rich, we're not.
#7. Posted:
Cen
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Lavish wrote
Cen wrote He made a solid investment, I guess. Why is this big news, though?


Because he is being forced by the NBA to sell his team as a punishment but in reality he is cashing out from it.

Cen wrote
Crosby wrote The guy says a few 'discriminating' words, the world hates him, and he is forced to sell his team. Yet makes a 2 billion dollar profit. Who do you really think won?

Good job America.


Definitely not Sterling... he got a shitload of bad publicity and had to cash in on an investment early.


Sterling won.

He didn't "cash in early" at all.
He is getting 160 times more than what he paid for it.

Who cares about "bad" publicity.


I don't know if you know this, but the point of investing is to maximize profits. Cashing in early on an almost guaranteed riser is not winning.

He got bad publicity and missed out on a lot more money.
#8. Posted:
Tywin
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Cen wrote I don't know if you know this, but the point of investing is to maximize profits. Cashing in early on an almost guaranteed riser is not winning.

He got bad publicity and missed out on a lot more money.


I don't know if you know this, but making $2 billion dollars from a $12 million dollar investment is maximizing profit.
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ApparentlyZac
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wow dude that guys making hella profit
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Tom_Brady
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Although they got 2 billion back on the franchise, I'm sure the Sterling's much rather have kept the franchise for their family for generations to come. Sterling didn't need the money, he bought the franchise for himself.

But either way, I think Ballmer will be a great owner. He'll get the community into it and make the Clippers and Lakers a good rivalry. The fact that he will put out two billion just shows how much he wants it and how aggressive he'd be to go over the luxury tax line and build a contender.
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