David Geffen Rumors
Interest is also coming from music mogul David Geffen, who considered a bid for the LA Clippers last year before the NBA team was sold for a record $2 billion to former Microsoft chieftain Steve Ballmer. Even former Time Warner boss Dick Parsons, who was interim chief executive of the Clippers when the NBA forced then-owner Donald Sterling to sell the team, has eyed the Nets, sources said.
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).
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”
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.
Winfrey’s spokesperson, Nicole Nichols, issued a statement later Wednesday, confirming Geffen’s claim. “Oprah Winfrey is in discussions with David Geffen and Larry Ellison to make a bid for the Los Angeles Clippers should the team become available,” Nichols said in the statement.
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.”