Ownership of the Los Angeles Clippers has been officially transferred from Donald Sterling, who was banned from the NBA life, to formmer Microsoft CEO Steve Ballmar, who paid a record amount for the basketball franchise.
The sale was finalized Tuesday when Ballmar paid $2 billion to buy the team and become its "Governor," according to SB Nation. The deal puts an end to the long process of removing Sterling as owner for making racially insensitive remarks on tape while arguing with girlfriend V Stiviano.
NBA Commissioner Adam Silver to banned Sterling from the NBA for life in late April, and many believed the process of removing him from the league would take years due to litigation.
The NBA confirmed on its website Tuesday that the team was sold by Sterling's wife, Shelly, on behalf of the Sterling Family Trust. Shelly became the sole trustee after two doctors found her husband incapacitated, resulting in his removal as a co-trustee.
Sterling bought the Clippers in 1981 for $12 million. Ballmar's offer for the Clippers is the highest price ever offered to buy an NBA franchise.
"I am humbled and honored to be the new owner of the Los Angeles Clippers," Ballmar said. "Clippers fans are so amazing. They have remained fiercely loyal to our franchise through some extraordinary times. I will be hard core in giving the team, our great coach, staff and players the support they need to do their best work on the court. And we will do whatever necessary to provide our fans and their families with the best game-night experience in the NBA."
Sterling's attorneys attempted to prevent the deal from closing by filing a petition with a state appeals court on Friday, asking for an emergency order to block the sale, CBS Local reported. They argued in the petition that the sale would result in Sterling losing a "unique and irretrievable asset," adding that while the Clippers were owned by Sterling, the team recently became one of the most successful franchises in the country. However, the court decided to not take any action because the ruling by Los Angeles Supreme Court Judge Michael Levanas to let Shelly sell the team had not been finalized yet.
The deal also received praise Doc Rivers, the team's president and coach, who threatened to leave the organization earlier this year if Sterling remained the team's owner.
"This is an amazing new day in Clippers history," Rivers said. "I couldn't be more excited to work together with Steve as we continue to build a first-class, championship organization. I am already inspired by Steve's passion for the game, his love of competition and desire to win the right way and I know our players and fans are going to be inspired as well."
