A group that includes billionaire media executive David Geffen, television icon Oprah Winfrey and Oracle chief executive Larry Ellison has bid more than US$1.5 billion for the Los Angeles Clippers professional basketball team, Reuters reported Friday, citing a person familiar with the matter.
The bid was one of several for the franchise, the report said.
Another group, which includes former basketball player Grant Hill and financier Tony Ressler, is believed to have bid US$1.2 billion, it said. Former Microsoft CEO Steve Ballmer may have also bid around US$1.8 billion, according to other reports.
The bids are being reviewed by co-owner Shelly Sterling, whose husband and co-owner Donald Sterling was banned from owning a team by the National Basketball Association for racist statements he made in a recorded conversation, the report said. The league has scheduled a June 3 hearing at which Donald Sterling can address the charges.
Sterling has pledged to fight the charges against him, and may file a lawsuit to stop the NBA from taking action, his lawyer Maxwell Blecher told the New York Times. His wife needs his approval to sell the team, the lawyer also said.
– Contact us at [email protected]