In case you missed it on Monday, Donald Sterling’s lawsuit against his wife — for removing him from the head of the Sterling Trust — failed in a Los Angeles, Calif. probate court.
Judge Michael Levanas ruled that Shelly Sterling had acted within the rules of the trust when she removed her husband from its leadership position, and then secured the largest price for a sports franchise…ever. Levanas also ruled that potential appeals from Donald Sterling can not delay the sale of the franchise to former Microsoft CEO Steve Ballmer.
The $2 billion sale price that Shelly Sterling (Donald’s wife) negotiated with Ballmer makes the Clippers the world’s most valuable franchise. Ballmer will probably be the owners of the Clippers by the beginning of the 2014-15 NBA season.
This decision brings an end to one of the most controversial ownership situations in the country.
Donald has a history of legal trouble regarding his blatant racism and discriminating practices, yet the league did nothing. And now the NBA gets to deal with the fall out over Sterling’s statements…from players to sponsors, the anger has been pretty universal over the last couple of months.
Now the league gets to put this all behind them and continue to build its image; the value of its franchises have skyrocketed over the last 18 months; and one of the league’s worst owners is now out of the game. That’s a pretty big win.
As for the Clippers, the 30th wealthiest person in the entire world just became the franchise’s owner…and he is going to set his sights on winning an NBA Championship. The nearly unlimited amount of cash to build up an incredible roster, but support and coaching staff is going to be a major advantage for the franchise.
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