Larry Ellison rumored to be in talks for buying the Clippers
The National Basketball Association has banned L.A. Clippers owner Donald Sterling from the league for life over racist comments that he made. The NBA is also going to force Sterling to sell the L.A. Clippers. This leaves the team open for another owner. Brian Windhorst, an NBA reporter, speculates that Oracle CEO Larry Ellison “is the guy who is dying to buy a team.”
Ellison may team up with David Geffen and Oprah Winfrey to buy the team. Ellison is the fifth richest man in the world with a net worth of $50 billion and he has been wanting to buy a basketball team for a while now. Ellison tried to buy the Golden State Warriors in 2010.
“Although I was the highest bidder, Chris Cohan decided to sell to someone else. In my experience this is a bit unusual. Nonetheless, I wish the Warriors and their fans nothing but success under their new ownership,” said Ellison in a press release back then. It is also possible that Ellison submitted his bid after the bidding was closed and only offered a few million dollars above the winner. The winning bid was $450 million. In 2012, Ellison also tried to buy the Memphis Grizzlies, but did not win that bid.
The L.A. Clippers will be an expensive purchase though. The value of the Clippers is estimated to be at between $1.5 billion to $2 billion.@amitchowdhry or on Google+ at +AmitChowdhry