HoopsHype David Geffen rumors

May 29, 2014 Updates

Former Microsoft chief executive Steve Ballmer has submitted a bid of $2 billion to buy the Los Angeles Clippers, sources have confirmed to ESPN. Sources tell ESPN.com's Darren Rovell that Ballmer's bid is the highest so far, topping bids from groups led by David Geffen ($1.6 billion) and L.A. investors Tony Ressler and Steve Karsh ($1.2 billion). ESPN.com

Ramona Shelburne: There are currently three serious bids for the Clippers (Ballmer, Geffen, Ressler). All over $1.2b. Question remains: Will Donald sign off? The belief is its on Shelly Sterling to sway Donald. As his lawyer told me yesterday, "you never know what a woman can do" Twitter @ramonashelburne

The co-founder of investment bank Guggenheim Partners and its president are helping billionaire media executive David Geffen put together a group to bid on the Los Angeles Clippers professional basketball team. Guggenheim said in a statement on Wednesday that co-founder and Chief Executive Officer Mark Walter and President Todd Boehly are joining Geffen's existing group of bidders, which includes television icon Oprah Winfrey and Oracle Chief Executive Officer Larry Ellison. Among competing bidders are former Microsoft Chief Executive Officer Steve Ballmer and billionaire Anthony Ressler. Reuters

April 30, 2014 Updates

Geffen said he and Ellison would run the team, while Winfrey would be an investor. "Oprah is not interested in running the team," Geffen told Schaap. "She thinks it would be a great thing for an important black American to own [another] franchise. The team deserves a better group of owners who want to win. Larry would sooner die than fail. I would sooner die than fail. Larry's a sportsman. We've talked about this for a long time. Between the three of us, we have a good shot." ESPN.com

Geffen also told Schaap that LeBron James was interested in playing in Los Angeles when he was a free agent in 2010 and that James, who ultimately signed with the Miami Heat, told him he would not play for Sterling. "[The] reasons are perfectly clear," said Geffen, would not specifically disclose why James didn't want to play for Sterling. I'm a fan. I bring something to the table, it's fun and I can afford it," Geffen said. "I live in L.A., that's one thing that makes it attractive." ESPN.com

Oprah Winfrey is considering teaming with David Geffen and Larry Ellison to make a bid to buy the Los Angeles Clippers if the NBA board of governors votes to force Donald Sterling to sell the team, sources told ESPN. Geffen, a music and film mogul with a net worth that Forbes estimates at $6.2 billion, reportedly tried to buy at least a controlling stake in the Clippers in 2010 but was rebuffed by Sterling. Ellison, the CEO of Oracle, a business software and technology company, has attempted to purchase several sports teams in recent years. ESPN.com

April 29, 2014 Updates

After making a bid several years ago to buy the National Basketball Association's Los Angeles Clippers for $600 million, media mogul David Geffen remains interested in buying the team, according to a person familiar with the matter. Mr. Geffen is among potential bidders for the Clippers after the NBA on Tuesday banned longtime owner Donald Sterling from the league for life, and said he may be forced to sell the team for making racist remarks, which were recorded and released last week on the website TMZ. NBA Commissioner Adam Silver said that Mr. Sterling would be barred from contact with the team and the league, and that he would be fined $2.5 million. Wall Street Journal

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