April 27, 2017 | 10:03 pm EDT Update
Ballmer, the former Microsoft (MSFT) CEO who purchased the Clippers for an NBA record $2 billion, said his team will likely lose money as it spends on talent to win. But NBA teams will be worth more in the long run, offering a big return on his investment if he ever decides to sell.
“We’re getting price appreciation because these basketball teams will continue to appreciate as the stock market appreciates,” Ballmer said in an interview on the FOX Business Network’s Wall Street Week. “People pay, basically, with appreciation in the stock market. Now, I’m not going to sell my team. I’m not looking for the dividend return. I’m looking for the fun, which means we’re looking for championships.”