Monday, June 2, 2014

The Sterlings Create Multibillion Dollar Legal Quagmire

Last week wrapped up with a series of unexpected events that were related to the continuing saga of Donald Sterling and his ownership of the Los Angeles Clippers. Sterling's estranged wife Shelly announced late Thursday night that she had signed an agreement to sell the basketball team to former Microsoft chief executive Steve Ballmer for $2 billion.

On Friday, the NBA cancelled a hearing to oust Sterling, which had been scheduled to take place in a few days. The league continues to move forward, however, in its voting on whether to give the go-ahead of the sale to Ballmer who still needs to obtain the approval of three-quarters of the league’s 30 owners. Also taking place at the end of last week was the filing of a lawsuit by Sterling in a California federal court against the NBA for more than $1 billion, pertaining to the league’s decision to ban for life the disgraced Clippers' owner and force him to sell the team. [more...]

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