This St. Louis native just missed buying LA Clippers
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May 30, 2014, 8:59am CDT Updated: May 30, 2014, 9:13am CDT
Michael Tipton, cc-licensed https://flic.kr/p/eXHfjc
Donald Sterling has been banned for life from the NBA for racial comments he made. He's not quite a feminist, either.
In a frenetic bidding war, Steve Ballmer[6], former CEO of Microsoft[7], put in a winning bid of $2 billion for the NBA’s[8] Los Angeles Clippers[9].
Ballmer’s bid bested offers by investors Bruce Karsh[10] and Tony Ressler[11] and a group that included David Geffen[12] and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers[13], reports the Los Angeles Times[14].
Karsh is a former St. Louisan who now lives in Los Angeles. He is a partner in Oaktree Capital Management[15], an asset management firm specializing in alternative investment strategies. His Clayton St. Louis Property LLC bought the Ritz-Carlton hotel in Clayton for $56 million in 2012. Forbes estimated Karsh’s net worth at $1.9 billion.
Karsh and Ressler submitted an offer of $1.2 billion, according to the Times. The Geffen group reportedly offered $1.6 billion.
Ballmer left Microsoft earlier this year. He has an estimated net worth of $20 billion, according to Forbes.
Research reports, Stocks
References
- ^ Joe Dwyer (feeds.bizjournals.com)
- ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
- ^ Twitter (twitter.com)
- ^ Facebook (www.facebook.com)
- ^ LinkedIn (www.linkedin.com)
- ^ Steve Ballmer (feeds.bizjournals.com)
- ^ Microsoft (www.bizjournals.com)
- ^ NBA’s (www.bizjournals.com)
- ^ Los Angeles Clippers (www.bizjournals.com)
- ^ Bruce Karsh (feeds.bizjournals.com)
- ^ Tony Ressler (feeds.bizjournals.com)
- ^ David Geffen (feeds.bizjournals.com)
- ^ Los Angeles Dodgers (www.bizjournals.com)
- ^ reports the Los Angeles Times (www.latimes.com)
- ^ Oaktree Capital Management (www.bizjournals.com)