Showing posts with label Forced Sale. Show all posts
Showing posts with label Forced Sale. Show all posts

Friday, May 23, 2014



By Michael Martinez and Brian Todd, May 23, 2014, CNN

Los Angeles (CNN) -- The NBA will proceed with a vote to force a sale of the Los Angeles Clippers, rebuffing an effort by co-owners Donald and Shelly Sterling to sell the franchise voluntarily, NBA spokesman Mike Bass said Friday.

"We continue to follow the process set forth in the NBA Constitution regarding termination of the current ownership interests in the Los Angeles Clippers and are proceeding toward a hearing on this matter on June 3," Bass said.

His announcement followed reports earlier Friday about how Donald and Shelly Sterling agreed to a voluntary sale of the NBA franchise as the league prepares a vote on a forced sale, according to a source familiar with the situation.

The couple have an agreement to allow Shelly Sterling to do the negotiations, and there have already been discussions between her and the NBA, according to the source.

Attorneys for the Sterlings, who earlier declined to comment about the couple's effort for a voluntary sale, weren't immediately available to react to Bass' statement.

Friday's events signal how the NBA is standing by its ultimatum that a vote will be held on a forcible sale.

For their part, the Sterlings appear to be running out of options -- short of suing the league -- and analysts say such a lawsuit wouldn't be inconceivable because Sterling is an attorney well versed in litigation.

Meanwhile, pressure grows for Donald Sterling, a real estate billionaire. He faces a deadline Tuesday to respond to the NBA's proposal to terminate his ownership in the team because of racist remarks he made.

Read the full story:  www.cnn.com

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Donald and Shelly Sterling
By James Rainey, May 23, 2014, Latimes.com

Los Angeles Clippers owner Donald Sterling would like to allow his wife, Shelly, to negotiate the forced sale of the NBA team in order to end a monthlong furor surrounding his racially charged remarks about African Americans, The Times confirmed Friday.

The news, first reported by ESPN.com and TMZ.com, could end the owners’ dispute with the pro basketball league, whose commissioner, Adam Silver, had asked that the Sterlings be ejected from the league.

Related story: Text from V. Stiviano: 'LET THE GAMES BEGAN'READ THE STORY

Fellow NBA owners are set to hear evidence on June 3 in New York at a hearing to determine whether the Sterlings should be able to keep the team, which they jointly own through a family trust. Three-fourths of the owners must approve the ouster of the Sterlings for it to become effective.

All indications had been that the Sterlings would fight to hold on to the team they have owned for 33 years. But a Donald Sterling confidant said Friday that Sterling, the team’s controlling owner, would like to turn the Clippers over to his wife to complete a sale.

Read the full story:  
www.latimes.com

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