HoopsHype Owners rumors

June 9, 2014 Updates

None of the candidates has met with owner Dan Gilbert, and none has a second interview scheduled as of Monday evening, a source said, though Yahoo reported that Gentry and Lue would be interviewed again. The Associated Press also reported Gentry would have a second interview. Cleveland Plain Dealer

Elementary school students may be far too young to have seen Michael Jordan’s playing days, but they apparently know quite well of his legend. When Jordan walked into a classroom recently, according to this video posted on Instagram, a group of very excited students swarmed him in the way that is a mixture of terrifying and adorable. Jordan was visiting the school, Hornets Nest Elementary, to help unveil a new fund for classroom innovations. For The Win

June 8, 2014 Updates

Sterling levied a $1 billion lawsuit against the NBA and Silver following a lifetime ban and $2.5 million fine handed down by the league following racially charged comments by Sterling. "I have absolute confidence it will be resolved because as part of the sale agreement with Shelly Sterling, she agreed to indemnify the league against a lawsuit by her husband," Silver said, "So in essence, Donald is suing himself and he knows that. While I understand he is frustrated, I think it's over. I think it's just a matter of time now, and then we will move on to better topics and back to the Finals." ESPN.com

Silver said Ballmer intends to purchase the Clippers entirely on his own, with eventual plans to build an ownership group. "What Steve has told us is that while he's the 100 percent owner of the team now, he intends to move forward and close as the 100 percent owner," Silver said. "And all he's told me is that he would then look to bring in other partners, but that would be premature right now." ESPN.com

June 6, 2014 Updates

The New York Knicks could now be worth $3 billion. So says Rich Tullo, an analyst at Albert Fried & Company, which made the comment as part of a note issued Friday morning to announce that the research company was revising its price target for Madison Square Garden stock upward to $85 a share. Tullo wrote that the Knicks, he believes, are now worth between $1.4 billion and $3 billion "based on percent premiums of recent sales prices paid for franchises such as the L.A. Clippers ($2 billion), the Bucks ($550 million) and New Orleans ($338 million)." ESPN.com

Tullo estimated that the Knicks generated more than $100 million in ticket sales this season, which he says was double what he estimates the Clippers did. The Knicks also get 100 percent of the money they make off suites, some leased at $1.8 million a year. Sources tell ESPN.com that the Clippers make no more than 10 percent of suite sales because of their lease with the Staples Center, which is owned by AEG. ESPN.com

June 5, 2014 Updates
June 4, 2014 Updates

Donald Sterling will not fight the sale of the Los Angeles Clippers and will drop a lawsuit he filed Friday against the NBA, Sterling's attorney, Max Blecher, confirmed to USA TODAY Sports Wednesday. Sterling, the Clippers' owner since 1981, had considered fighting the sale of the team by his wife Shelly. But such a challenge might have required Sterling to fight her in court and contest a recent ruling made about his mental health. Shelly Sterling agreed to sell the Clippers last week to former Microsoft CEO Steve Ballmer for $2 billion. USA Today Sports

The sale to Ballmer awaits a vote by the NBA's Board of Governors, which is expected to approve it in coming weeks "Donald Sterling officially announces today, the NBA and Donald Sterling and Shelly Sterling have agreed to sell the Los Angeles Clippers to Steve Ballmer for $2 billion and various additional benefits," Bobby Samini, another attorney for Sterling, said in a statement to USA TODAY Sports. "All disputes and outstanding issues have been resolved." The team is held by the Sterling Family Trust, with Shelly and Donald Sterling each holding 50%. After NBA Commissioner Adam Silver announced he would move to force a sale of the Clippers, Donald Sterling authorized his wife to sell the team on his behalf with a letter to the NBA on May 22. But then he changed his mind last week and decided to fight a vote scheduled for Tuesday on whether to terminate his ownership. USA Today Sports

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