I just read a report that Shelly Sterling signed a contract to sell the Clippers for $2 Billion.....
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...... to Microsoft's Steve Balmer.
The report (from ESPN) stated that Shelly Sterling is now the sole trustee of the Sterling Family Trust (this trust is the owner of the Clippers) and that she became the sole trustee of the family trust after medical professionals made a determination (based upon what the article does not say) that Donald Sterling lacks mental competency [if this is correct then he would not be able to act as trustee under the family trust (I assume that he and Shelly are named as co-trustees under the trust documents, but that a trustee can be removed from this position if he or she becomes incompetent; further I suspect that if Donald Sterling wants to dispute the issue of his mental competence he can do so by filing documents in the LA County Superior Court probate department)].
Setting aside the issues present involving whether or not Donald Sterling is incompetent, the thing that blows me away is the reported:
$2,000,000,000.00
purchase/sale price.
How in the world does this price have any basis in reality?????
I remember not to long ago the Dallas Cowboys, after the completion of the team's current home stadium, were reported to be valued at $1,000,000,000.00.
What the market value of pro sports teams today?
Is this price for the sale of the Clippers an anomaly? Or is it the new reality, with all sports franchises (well at least those located in the biggest markets) now being worth BillionSSSSSS of $$$$$$$.
If so, where do you think the players and the players' unions will set there opening position at the round of labor negotiations that will take place once current collective bargaining agreements expire.
Further, are the TV, Radio, Internet and other electronic broadcast rights of pro sports contests currently in effect and on the table in the future going to provide revenue to the pro sports leagues and the individual teams that will mathematically support multi billion dollar valuations of sports teams?
Or is the $2,000,000,000.00 reported sale price for the Clippers an aberration resulting from multiple factors (including Balmer being worth a reported $20,000,000,000.00 and having tried unsuccessfully to acquire NBA teams in the past; and interest, for whatever reason, by multiple potential purchasers to jump at the chance of acquiring an LA based sports team?
I wonder also if under her goofy looking face visors V. Stiviano, upon hearing the reported $2,000,000,000.00 sale price, feels that she should be entitled to receive a portion of the sale price (given her "relationship", care, love and support of Donald Sterling over the years) and that being excluded from sharing in the sales proceeds would be tragic and unjust.
She probably sacrificed her "career" and numerous opportunities in life when she chose to devote herself to him.
I also expect that:
1. the NBA and Mr. Silver will be very happy to see Shelly Sterling succeed in getting the team sold (so that the league is not required to pursue a forced sale) even if Donald Sterling opposes same; and
2. the owners of the other teams in the league will also be happy to see Shelly Sterling succeed in getting the team sold (while at the same time shuddering to think that the same thing could happen to them if any of the skeletons in their closets surface).
Your thoughts?
The report (from ESPN) stated that Shelly Sterling is now the sole trustee of the Sterling Family Trust (this trust is the owner of the Clippers) and that she became the sole trustee of the family trust after medical professionals made a determination (based upon what the article does not say) that Donald Sterling lacks mental competency [if this is correct then he would not be able to act as trustee under the family trust (I assume that he and Shelly are named as co-trustees under the trust documents, but that a trustee can be removed from this position if he or she becomes incompetent; further I suspect that if Donald Sterling wants to dispute the issue of his mental competence he can do so by filing documents in the LA County Superior Court probate department)].
Setting aside the issues present involving whether or not Donald Sterling is incompetent, the thing that blows me away is the reported:
$2,000,000,000.00
purchase/sale price.
How in the world does this price have any basis in reality?????
I remember not to long ago the Dallas Cowboys, after the completion of the team's current home stadium, were reported to be valued at $1,000,000,000.00.
What the market value of pro sports teams today?
Is this price for the sale of the Clippers an anomaly? Or is it the new reality, with all sports franchises (well at least those located in the biggest markets) now being worth BillionSSSSSS of $$$$$$$.
If so, where do you think the players and the players' unions will set there opening position at the round of labor negotiations that will take place once current collective bargaining agreements expire.
Further, are the TV, Radio, Internet and other electronic broadcast rights of pro sports contests currently in effect and on the table in the future going to provide revenue to the pro sports leagues and the individual teams that will mathematically support multi billion dollar valuations of sports teams?
Or is the $2,000,000,000.00 reported sale price for the Clippers an aberration resulting from multiple factors (including Balmer being worth a reported $20,000,000,000.00 and having tried unsuccessfully to acquire NBA teams in the past; and interest, for whatever reason, by multiple potential purchasers to jump at the chance of acquiring an LA based sports team?
I wonder also if under her goofy looking face visors V. Stiviano, upon hearing the reported $2,000,000,000.00 sale price, feels that she should be entitled to receive a portion of the sale price (given her "relationship", care, love and support of Donald Sterling over the years) and that being excluded from sharing in the sales proceeds would be tragic and unjust.
She probably sacrificed her "career" and numerous opportunities in life when she chose to devote herself to him.
I also expect that:
1. the NBA and Mr. Silver will be very happy to see Shelly Sterling succeed in getting the team sold (so that the league is not required to pursue a forced sale) even if Donald Sterling opposes same; and
2. the owners of the other teams in the league will also be happy to see Shelly Sterling succeed in getting the team sold (while at the same time shuddering to think that the same thing could happen to them if any of the skeletons in their closets surface).
Your thoughts?
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So much for diversity in the sport. Another load of hot air.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
One of the founders of MSFT is the owner of (arguably) the best run franchise in sports, and clearly the NFL.
The other founder compelled the worlds richest (excluding Oprah and the Wal Mart brats) to give large sums of their money to make the world a better place.
If Ballmer takes anything from the two mentioned above, LAC is in good shape and very lucky- and have a generous, yet hands off, owner. Good luck to them, I hope it's a huge success.
<< <i>The other founder compelled the worlds richest (excluding Oprah and the Wal Mart brats) to give large sums of their money to make the world a better place. >>
Sure. His investment in MSNBC made the world much better.
<< <i>Not a founder of MS- be clear on that.
One of the founders of MSFT is the owner of (arguably) the best run franchise in sports, and clearly the NFL.
The other founder compelled the worlds richest (excluding Oprah and the Wal Mart brats) to give large sums of their money to make the world a better place.
If Ballmer takes anything from the two mentioned above, LAC is in good shape and very lucky- and have a generous, yet hands off, owner. Good luck to them, I hope it's a huge success. >>
hmm thats funny, no one owns the Packers!!!
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