Microsoft CEO Steve Ballmer absolutely has the money to blow on sports franchises. This much money is unheard of though. $2 Billion bought him the Los Angeles Clippers. The CLIPPERS!
The Clippers have been relevant and competitive for about 2 years out of their entire existence. The 76ers, a team in a relatively decent size market and a team with a great NBA pedigree, got sold not to long ago for less than $300 million. The rationale behind this amount of money going for arguably the worst sports franchise of all time is cloudy at best. If we are setting the market value of the Clippers at $2 billion dollars than what do historically great and well known franchises go for? By the laws of market economics, the Yankees and Cowboys are priceless now right? The Yankees have had more dynasties than the Clippers have had above .500 seasons and that’s not even an exaggeration. This deal just set up every single owner in sports to be able to make the grossest amount of money possible upon selling the team. It’s a sell high market right now. The Mccourt’s are probably kicking themselves for having to sell the Dodgers so soon before this. Only got $1 Billion from Magic Johnson instead of 2.
Sidenote: Do you think Sterling even cares about his image at this point? He and his family just made 2$ Billion when if he was selling under normal circumstances, he wouldn’t have gotten nearly as much. He’s going to live in the Maldives for the rest of his miserable life and shove it all in our faces. This whole thing was probably contrived by him in the first place.