Former Microsoft CEO Steve Ballmer To Buy The Clippers For $2 Billion

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The L.A. Times is reporting that former Microsoft CEO Steve Ballmer is going to purchase the L.A. Clippers for a reported $2 billion.

Balmer, who was chief executive of Microsoft for 14 years, was chosen over competitors that included Los Angeles-based investors Tony Ressler and Steve Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers.

A person with knowledge of the negotiations said the Geffen group bid $1.6 billion and Ressler at $1.2 billion.

The sale price is almost four times the highest previous NBA franchise sale price.  The Milwaukee Bucks were sold for $550 million earlier this month.  It is second to the Dodgers 2012 sale for $2.1 billion as the highest price for any sports team in North America.

Donald Sterling and the other 29 NBA owners must sign off on the deal.

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