Showing posts with label Shelly Sterling. Show all posts
Showing posts with label Shelly Sterling. Show all posts

Friday, March 27, 2015

What Comes Around...

March 27, 2015 Community Property , Donald Sterling 0 Comments
Recording Could come Back To Bite Donald Sterling Girlfriend

By Brian Melley, Mar. 26, 2015, SeattleTimes.com

LOS ANGELES (AP) — Recordings that cost Donald Sterling ownership of the Los Angeles Clippers could cost the woman he was dating the fortune in gifts he lavished on her.

Snippets of the conversations recorded by V. Stiviano were played Wednesday as a lawyer for Sterling’s wife explained why the former girlfriend should return more than $3.6 million the billionaire gave her in gifts that included a duplex, Ferrari, jewelry and designer clothes.

Stiviano manipulated and deceived the 80-year-old to give away community property that belongs to Shelly Sterling, his wife of nearly 60 years, attorney Pierce O’Donnell said in Los Angeles Superior Court.

“She defrauded him and I feel that she is not entitled to any of these gifts or whatever they call them,” Shelly Sterling later testified. “She’s been very, very nasty to me, and she’s been mean to my husband.”

Read the full story:  www.seattletimes.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , ,

Wednesday, August 13, 2014

Probably negotiating to drop the fine/ban

August 13, 2014 Donald Sterling , Latimes.com 0 Comments
NBA Files Counterclaim Against Donald Sterling

By Nathan Fenno, Aug. 12, 2014, Latimes.com

The NBA filed a counterclaim against Donald Sterling and the Sterling Family Trust in federal court Monday, saying the Clippers owner caused “devastating and incalculable harm” to the league.

Filed in U.S. District Court in Los Angeles in response to Sterling’s June antitrust lawsuit against the NBA and Commissioner Adam Silver, the counterclaim seeks to recover damages related to the owner’s recorded comments denigrating blacks.

Sterling must indemnify the NBA against losses and litigation according to the league’s constitution and a July 2005 document he signed, the counterclaim said. Shelly Sterling also signed an agreement in May to indemnify the NBA for any litigation costs related to her husband’s lifetime ban from the league, his $2.5-million fine and the franchise’s sale.

Read the full story:  www.latimes.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , ,

Wednesday, July 30, 2014

And Now This…Sterling vs. Sterling - Sterling wins!

July 30, 2014 And Now This... , Donald Sterling 0 Comments

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , ,

Monday, July 28, 2014

Scam lawsuit

July 28, 2014 Donald Sterling , Judge Michael Levanas 0 Comments
Donald Sterling Loses Court Battle To Prevent Sale Of Clippers

Donald Sterling
By Nathan Fenno, Jul. 28, 2014, Latimes.com

A judge gave Shelly Sterling a sweeping victory Monday afternoon and cleared the way for Steve Ballmer’s record $2-billion purchase of the Clippers to proceed.

In a tentative oral decision, Judge Michael Levanas ruled in Sterling’s favor on all three counts and rejected virtually all of Donald Sterling’s arguments in the probate trial in Los Angeles Superior Court.

The ruling included the extraordinary step of granting Shelly Sterling’s request for an order that allows the sale to be completed regardless of an appellate court’s intervention.

Levanas also ruled that Shelly Sterling acted properly when two doctors declared her husband mentally incapacitated in May under terms of the Sterling Family Trust before she proceeded to agree to sell the Clippers to Ballmer.

Donald Sterling revoked the trust in June, but Levanas said the court retained jurisdiction over the matter.

Levanas made the announcement after almost two hours of closing arguments between lawyers for Donald Sterling and Shelly Sterling.

Read the full story:  www.latimes.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , ,

Thursday, June 26, 2014

Report: Clippers Want LeBron James; Blake Griffin's 'Untouchable' --Even if Shelly's still around?

June 26, 2014 Cbs.sports.com , Donald Sterling 0 Comments
LeBron James
By Matt Moore, Jun. 25, 2014, Cbs.sports.com

ESPN reports that you can add the Clippers to the list of teams that plan to make a run at LeBron James and Carmelo Anthony in free agency, despite a lack of cap space, but that Blake Griffin is "untouchable" in any circumstances.

The Los Angeles Clippers have strong interest in pursuing LeBron James and Carmelo Anthony if they can clear the requisite salary cap space to make a maximum-level offer to the superstars, who have both elected to become free agents starting July 1.

One player they have no interest in moving, however, is forward Blake Griffin. While the Clippers would need to move significant players and money to make a run at either James or Anthony, sources told ESPN that Clippers president and coach Doc Rivers has told Griffin on numerous occasions that he considers him "untouchable" in any trade.

via Los Angeles Clippers consider Blake Griffin untouchable in free-agent pursuit, according to sources - ESPN Los Angeles.

This has been floating out there for a while, and Tuesday it was reported that while Miami is James' main choice, he is intrigued by the idea of the Clippers. And it makes sense. James has known Clippers point guard Chris Paul since they were kids. They were groomsmen for each other's weddings, and Paul is godfather to one of LeBron's sons. That relationship is stronger than that of James and Anthony, and even that of James and fellow Heat star Dwyane Wade.

Los Angeles offers him proximity to the entertainment complex in Hollywood, which James is becoming further and further invested in. (He has two films reportedly in production.) It enables him to play in LA without teaming with Kobe Bryant and dealing with the complicated egos there. He gets to play with Doc Rivers whom he has long respected from their playoff battles. Don't get confused, this isn't fantasy. If the Clippers can seriously figure out a deal, this could happen.

Read the full story:  www.cbssports.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , , ,

Saturday, June 7, 2014

Clippers' Sterling Wants NBA To Revoke $2.5 Mil Fine --Hell, he'll make NBA apologize

June 07, 2014 Associated Press , Donald Sterling 0 Comments
Donald Sterling
By Tim Abdollah, Jun. 7, 2014, Associated Press

Los Angeles Clippers co-owner Shelly Sterling would continue to play a role in the team under terms of the pending sale to former Microsoft CEO Steve Ballmer, according to two individuals close to the negotiations.

The individuals, who are not authorized to speak publicly, told The Associated Press that the $2 billion deal allows for up to 10 percent of the team — or $200 million — to be spun off into a charitable foundation that Shelly Sterling would essentially run. The deal was negotiated by Shelly Sterling after husband Donald Sterling's racist remarks to a girlfriend were publicized and the NBA moved to oust him as team owner.

One of the individuals said Shelly Sterling and Ballmer would be co-chairs of the foundation. The individuals said the foundation would target underprivileged families, battered women, minorities and inner city youths. "To benefit those on the receiving end of Donald's rather abhorrent remarks," one individual said.

The idea to allow Shelly to continue some role in the team was floated early on by her attorney, Pierce O'Donnell — neither he nor Shelly Sterling responded to a request for comment — and it was enthusiastically agreed to by the NBA. "The NBA was all over it in terms of support," one of the individuals said. "It gave her a meaningful role and stake in the team, and gave the NBA 100 percent sale of the team."

NBA officials have not yet responded to requests to comment on the deal.

But it's unclear if this deal will ever materialize as Donald Sterling still had not signed off on the deal's terms because the NBA would not agree to revoke its $2.5 million fine and lifetime ban, according to one of the individuals.

Sterling had agreed to sell the team Wednesday and drop his $1 billion federal lawsuit against the NBA assuming "all their differences had been resolved." But now he's considering continuing the suit after being told by intermediaries the NBA won't budge on the punishments doled out by Commissioner Adam Silver after Sterling's racist comments were publicized.

Sterling's consent to his wife Shelly Sterling's potentially record-breaking $2 billion deal was the first sign of an end to weeks of uncertainty. The NBA's owners must approve the deal.

Read the full story: www.abcnews.go.com


Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , ,

Wednesday, June 4, 2014

Why Deal To Sale Clippers Took Only One Week --Ever see a deal so complicated get done so quickly?

June 04, 2014 Donald Sterling , Los Angeles Clippers 0 Comments
By Eriq Gardner, Jun. 4, 2014

 Former Microsoft CEO Steve Ballmer's $2 billion agreement to buy the Los Angeles Clippers is astonishing not only for the price tag. The deal came together in less than a week -- the corporate-transaction equivalent of an alley-oop with 0.1 seconds left. The Friday before Memorial Day, BobBaradaran and Pierce O'Donnell, L.A. lawyers representing Clippers owner Donald Sterling's estranged wife, Shelly Sterling, decided the deal needed to get done quickly. The NBA's board of governors was scheduled to vote June 3 on forcing a sale, and the attorneys wanted to beat a litigious Donald Sterling to the courthouse. Without a prospectus that would take six months to prepare,Baradaran entertained dozens of calls from interested parties during the holiday weekend. He tells THR there were 20 serious bidders, fromOprah Winfrey and David Geffen (partnering with executives of THR parent Guggenheim Partners) to a group out of the Middle East, and all were curious about terms of the team's TV rights deals.

The eight most credible bidders were given not a typical 100-page contract to review but rather a single sheet with an empty box for a dollar figure and a space to list noneconomic demands. Ballmer, who outbid a $1.6 billion offer from the Winfrey group, was crowned the winner the day after the May 28 deadline, and he and Shelly Sterling signed sale papers at the Greenberg Glusker law firm that evening. "The only time in history a deal has been put together faster was when J.P. Morgan took over Bear Stearns on the eve of the financial meltdown," boasts Baradaran, whose team announced the transaction hours before Donald Sterling's $1 billion lawsuit against the NBA hit.

Read the full story:  www.hollywoodreporter.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , ,

Friday, May 30, 2014

Sterling Ruled Mentally Unfit--Can't Prevent Sale --Was he mentally fit when he signed authority to Shelly?

May 30, 2014 Donald Sterling , Los Angeles Clippers 0 Comments
Donald Sterling

Brent Schrotenboer, May 30, 2014, Usatoday.com

Los Angeles Clippers owner Donald Sterling does not have the authority to stop a $2 billion sale of his team because he has been determined to be mentally unfit to make decisions related to the family trust, a person familiar with the situation told USA TODAY Sports.

The Sterling Family Trust owns the team, with Donald and his wife Shelly each owning a 50% share. The trust spells out provisions and procedures related to the mental capacity of the trustees, and Donald Sterling did not meet the standard in a determination by experts, giving his wife sole decision-making power for the trust, the person said.

Shelly Sterling reached a deal Thursday with former Microsoft CEO Steve Ballmer to sell the Clippers for a record $2 billion. The contract was sent to the NBA for approval a few days before the league's Board of Governors was set to vote on whether to terminate the Sterlings' ownership of the team.

BALLMER: Details on record-setting sale

ARMOUR: $2 billion too much for Clippers

As part of the deal, Ballmer gets 100% of the team, though Shelly Sterling still could be involved in the franchise in some other capacity, the person said.

"Shelly Sterling was acting under her authority as the sole trustee of the Sterling Family Trust which owns the Clippers," said a news release issued late Thursday by Shelly Sterling's representatives.

"I am delighted that we are selling the team to Steve, who will be a terrific owner," Shelly Sterling said in the statement. "We have worked for 33 years to build the Clippers into a premiere NBA franchise. I am confident that Steve will take the team to new levels of success."

Donald Sterling's attorneys didn't return calls Thursday night from USA TODAY Sports. After Sterling authorized his wife in writing last week to sell the team on his behalf, his attorney this week said he had reversed course, did not want to sell and instead wanted to fight the NBA, which banned him for life on April 29.

But Shelly Sterling continued to entertain offers for the team even as her husband's attorney said he did not want to sell.

Read the full story:  www.usatoday.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , ,

Thursday, May 29, 2014

Former Microsoft CEO Steve Ballmer To Buy Clippers For $2 Billion --Pending Sterling and NBA

Former Microsoft CEO Steve Ballmer To Buy Clippers For $2 Billion --Pending Sterling and NBA

May 29, 2014 Donald Sterling , Los Angeles Clippers 0 Comments

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , ,

Wednesday, May 28, 2014

Donald Sterling: Proceedings A Sham --Says does not have permission to sell

May 28, 2014 Abcnews.com , Donald Sterling 0 Comments
By Ramona Shelburne via ESPN, May 28, 2014, Abcnews.com

 Los Angeles Clippers owner Donald Sterling responded forcefully Tuesday to the NBA's charges to terminate his ownership, while his estranged wife, Shelly Sterling, continued to move quickly to sell the team by the end of the week.

 Donald Sterling's lawyer, Max Blecher, told ESPN on Tuesday that his client "is going to fight to the bloody end" and has effectively "disavowed" the agreement he reached with his wife last week that would allow her to negotiate a sale of the team.

 "I don't know what agreement she has with him, but I'm saying to you today, he disavows anything she's doing to sell the team," Blecher said. "He says, 'It's my team, and I'll sell it when and if I get around to it.'"

 Asked why Sterling seems to have had a change of heart, Blecher said, "He was in a state of shock at first. Now he's recovering and he's much more feisty."

 Shelly Sterling and her advisers were undeterred by Donald Sterling's position and continued to move swiftly to sell the team, setting a deadline of Wednesday morning for the first round of bidding on the franchise, sources told ESPN.

 Pierce O'Donnell, an attorney for Shelly Sterling, issued a statement Tuesday stating that his client had a written agreement with her husband to sell the team and she "and the NBA are working cooperatively on the transaction."

 ESPN, meanwhile, has obtained a letter, dated May 22, that was sent from Donald Sterling's lawyer to the NBA, in which he tells the league he has authorized Shelly "to negotiate with the National Basketball Association regarding all issues in connection with the sale of the Los Angeles Clippers team, owned by LAC Basketball Club, Inc."

 Blecher was copied on the letter, which was sent by one of Sterling's personal lawyers.

 Shelly Sterling has retained Bank of America to help sell the franchise. ESPN reported Sunday that at least six serious groups have approached Sterling and her advisers about purchasing the team. Four of those groups are known: former Microsoft CEO Steve Ballmer; a group including music mogul David Geffen, Oracle CEO Larry Ellison and Oprah Winfrey; billionaire surgeon and entrepreneur Patrick Soon-Shiong; and a group including former NBA star Grant Hill and Southern California businessmen Tony Ressler and Bruce Karsh.

 One source with knowledge of the process estimated that most of the initial bids will start at $1 billion.

 Bank of America made bid books with financial information on the team available to potential buyers Tuesday. The Clippers' television rights are up in two years, a key reason the franchise could sell for more than $1 billion. However, the Clippers still have nine years remaining on their lease with Staples Center, according to sources.

 Shelly Sterling has issued deadlines to bidders and hopes to have a deal done by Monday, according to sources. She had told bidders to submit letters of interest by Wednesday, with firm offers due by 5 p.m. ET on Thursday. It is then expected that a second round of bidding will take place this weekend, with a winning bid decided upon by Monday.

 The dispute between the Sterlings comes as the NBA continues to press for a June 3 hearing of its board of governors, which will end with a vote on whether to terminate the Sterlings' ownership.

Read the full story and see the video:  www.abcnews.go.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , , , , ,

Friday, May 23, 2014

NBA Will Still Force Sale Of L.A. Clippers, Rebuffs Sterlings' Offer -- Another gambit

NBA Will Still Force Sale Of L.A. Clippers, Rebuffs Sterlings' Offer -- Another gambit

May 23, 2014 Brian Todd , CNN 0 Comments


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

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , , , ,

LA Times: Donald Sterling Wants His Wife To Negotiate Forced Sale Of Clippers --Latest gambit

May 23, 2014 Donald Sterling , ESPN 0 Comments
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

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , , , ,

Wednesday, May 21, 2014

The NBA's Legal Trouble In Kicking Donald Sterling Out --Attorneys, start your briefs...

May 21, 2014 Adam Silver , Donald Sterling 0 Comments
NBA Commissioner Adam Silver
Photo:  Kathy Willens / AP
By K.B. Blinn, May 19, 2014, Sbnation.com

The American public has spent two weeks praising Adam Silver's first act of decisiveness amid the ugly, damaging and very public spectacle created by Donald Sterling. The NBA commissioner moved swiftly, firmly and within the legal confines of his job after recordings of Sterling's racist remarks became public. Silver banned Sterling for life and fined the Clippers owner $2.5 million. These actions, completely within Silver's right as commissioner, comprised not only the most severe penalty the league has ever seen, but one of the harshest levied on any team owner ever.

For this, Silver won praise from almost everyone, including myself. His decision, especially regarding the maximum fine, was brilliant. While many people -- including Silver, it can be assumed -- would have preferred to bury Sterling under a much larger fine, Silver knew as a lawyer to stick to the maximum penalty. Less restraint might have given Sterling reason to take the league to court, where he's been characterized as "tyrannical." (That he's doing it anyway is surprising and may be a flawed legal strategy.) Silver was as severe as he could be without going over the top, and the result was one that everyone -- or everyone but Donald Sterling -- could cheer: a lifetime ban, $2.5 million fine, NBA stands strong against racism, fans rejoice.

But is it possible that in his valiant proclamation, Silver may have unintentionally hung his owners out to dry? When he urged the remaining NBA ownership to force a sale of the Clippers, did Silver inadvertently force a vote that the owners otherwise could have avoided for fear of the unwanted and possibly quite damaging consequences? Consequences of which some of the owners -- most notably Mark Cuban -- were aware?

When I first began looking into Sterling's options for fighting a sale, I was expecting a brick wall of legal stipulations and bylaws. Otherwise, why would Silver have been so emphatic? For the first few days, I felt confident.

One of the prevalent theories on Sterling's possible actions involves making the Clippers part of his impending divorce. The belief is that, because the Clippers are owned by a family trust, the team would be tied up in the divorce as Sterling and his wife divide up their property.

I spoke with attorney Alan Fanger, a sports legal analyst out of Boston, and he believes the divorce will be a non-factor. First, Fanger explains that if an asset in a divorce is a franchised business, as the Clippers team is, and the owner has his rights stripped by a third party -- the other owners, in this case -- the spouse loses the right to step in and claim she will be given the team in the divorce.

But what about it being owned by the family trust? Also not a big deal, as it turns out: all sports teams are owned by trusts or corporations for liability protection. Sterling, if not the trustee of the trust, is probably the largest beneficiary, who in turn has the right to control and direct the trustee. This takes us back to reason No. 1: Sterling has his rights stripped and his wife cannot claim she'll get the team.

Read the full story:  www.sbnation.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , ,

Thursday, May 15, 2014

SI Sources: Donald Sterling Refuses NBA Sanctions, Threatens To Sue --From his cold dead hands

May 15, 2014 Adam Silver , Anti-Trust Law 0 Comments
By Michael McCann, May 15, 2014, Sportsillustrated.cnn.com

SI.com has learned that Clippers owner Donald Sterling has hired prominent antitrust litigator Maxwell Blecher, who has written a letter to NBA executive vice president and general counsel Rick Buchanan threatening to sue the NBA. The letter, sources tell SI.com, claims that Sterling has done nothing wrong and that "no punishment is warranted" for Sterling. Blecher also tells Buchanan that Sterling will not pay the $2.5 million fine, which is already past due. Blecher ends the letter by saying this controversy "will be adjudicated."

Blecher's letter makes clear what many have anticipated: Donald Sterling will not go down without a fight and that he is taking active steps towards litigation. A letter of this type is considered a precursor to the filing of a lawsuit. Blecher's letter offers no ambiguity about Sterling's intentions.

"We reject your demand for payment," the letter tells Buchanan, who on May 14 informed Sterling by letter that he must pay the $2.5 million fine.

Blecher's letter goes on to identify two basic legal defenses for Sterling.

MCCANN: The potential legal fallout of Sterling's CNN interview

First, Blecher claims that Sterling has not violated any article of the NBA constitution. The letter curiously references Article 35, which governs players' misconduct, and several other provisions. The NBA is expected to argue that Sterling violated Article 13(d) among other provisions. Article 13 (d) bars owners from violating contractual obligations, including the obligation that owners no engage in unethical conduct or take positions adverse to the NBA. Blecher does not explain how he intends to prove Sterling's racist remarks captured on the secret recording -- followed by Sterling's incendiary remarks to Anderson Cooper about Magic Johnson -- do not give rise to unethical conduct or positions adverse to the NBA.

Second, Blecher argues that Sterling's "due process rights" have been violated by the NBA. A due process claim may sound superficially reasonable. After all, Sterling was banned permanently from the NBA after a mere four-day investigation, without any formal proceedings. If the NBA were a federal agency or a state college, Sterling might have a good argument, as those are public entities that must provide safeguards found under the U.S. Constitution and state constitutions. The problem for Sterling is that the NBA is a private association and is not required to provide due process rights. Sterling, moreover, contractually assented to the NBA's system of justice through various contracts, including his franchise agreement to purchase the Clippers and the joint venture agreement, which indicates the NBA has binding authority over the teams.

Read the full story:  www.sportsillustrated.cnn.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , , , , ,

Why The NBA Is Taking So Long To Oust Donald Sterling

May 15, 2014 Adam Silver , Donald Sterling 0 Comments
By Roger Groves, May 15, 2014, Forbes.com

The question raised by NBA’s Stephen A. Smith, Spike Lee, and several NBA players, current and past, is “Why is it taking so long to fire Donald Sterling?” NBA Commissioner Adam Silver was so strong and strident in his announcement that steps would be taken “immediately” to do just that. There was no ambiguity about whether they were going to fire Sterling for his racist comments against African Americans. It is a done deal. Commissioner Silver surely would not have made such a profound announcement without having consulted the other NBA owners. So why hasn’t the first shoe dropped?

Like an onion, the answer has several smelly layers, and several lawyers. The first shoe is Donald. The second shoe is Shelly, his estranged wife and 50% owner of the family trust that owns the LA Clippers. The NBA is more concerned about the second.

The most important deliberative point I suspect is this: One or both of those shoes may sue the NBA and its owners. I have several legal reasons for why they suit would ultimately fail, not the least of which is that the controlling owner from the trust was Donald. He is the only one on the governing board, and the removal of him effectively removes the trust. But that does not stop either Sterling from commencing the action, and getting to a stage we call discovery. During discovery, a lot of dirt can be discovered about the other owners.

Donald, himself a lawyer has been litigious in the past. Shelly is lawyered up with tall cotton firms. While their lawyers oppose each other for divorce purposes, I bet their lawyers will agree on exposing any evidence they can find that current owners have been complicit, accepting, acquiescing, or joking along with Donald in ways that are considered racist. The claim would be, “See these guys are just as bad, so ousting Donald is arbitrary or an antitrust-level conspiracy, and an abuse of discretion of its own rules.”

So even if there is enough legal support for ultimately winning at trial, the possibility of negative exposure in the media during months, if not years of discovery and motion hearings is probably causing the NBA to consider a form of pretrial settlement to avoid litigation. And I would bet your season tickets that a primary strategy being considered is the creation of a new diverse ownership group and then carving a non-operating passive piece of it for Shelly.

As for Donald, someone is likely looking at ways to structure a deal where he minimizes his multi-million dollar capital gains taxes he would pay on his forced sale. The taxation of capital gains is one of the most complicated least-understood areas of the law. To find loopholes is not a new quest among lawyers so the IRS has a myriad of regulations to avoid them.

Read the full story:  www.forbes.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , , , ,

Monday, May 12, 2014

Sterling To Anderson Cooper: I Was 'Baited' Into 'A Terrible Mistake' --Shelly gave an interview to Barbara Walters

Sterling To Anderson Cooper: I Was 'Baited' Into 'A Terrible Mistake' --Shelly gave an interview to Barbara Walters

May 12, 2014 Anderson Cooper , Donald Sterling 0 Comments


By Ismael Estrada and Catherine E. Shoichet, May 12, 2014, Cnn.com

Watch Anderson Cooper's full interview with Donald Sterling at 8 p.m. ET Monday on "AC360" on CNN.

(CNN) -- Los Angeles Clippers owner Donald Sterling says he's sorry but feels he was "baited" to make racist comments, nearly two weeks after the NBA fined him and banned him for life for his remarks in a recorded conversation.
Sterling: 'I'm asking for forgiveness'

"When I listen to that tape, I don't even know how I can say words like that. ... I don't know why the girl had me say those things," he told CNN's Anderson Cooper in an exclusive interview set to air on Monday.

"You're saying you were set up?" Cooper asked.

"Well yes, I was baited," Sterling said. "I mean, that's not the way I talk. I don't talk about people for one thing, ever. I talk about ideas and other things. I don't talk about people."

Sterling, an 80-year-old married lawyer and billionaire real-estate investor, hasn't spoken publicly about the accusations since celebrity gossip website TMZ posted a 10-minute audio recording of him that drew widespread condemnation from fans, players and the league.

Read the full story: www.cnn.com

 Related:  ABC News Exclusive: Shelly Sterling: I Think Donald Sterling Has 'Onset of Dementia'

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , , , ,

ABC News Exclusive: Shelly Sterling: I Think Donald Sterling Has 'Onset of Dementia'

May 12, 2014 Abcnews.go.com , Barbara Walters 0 Comments
Shelly Sterling and Barbara Walters
By Michael Rothman, May 11, 2014, Abcnews.go.com

Shelly Sterling said today she doesn't think Donald Sterling is a racist, but she believes her estranged husband is in the "onset of dementia."

"I -- in my opinion, I think he -- it's the onset of dementia," Shelly Sterling told ABC News' Barbara Walters today in an exclusive interview.

Sterling told Walters her husband said, "I don't remember saying that. I don't remember ever saying those things," after hearing the audiotape of him telling V. Stiviano not to promote her relationship with black people and not to bring them to Los Angeles Clippers games.

"I said, 'Well, this is the tape.' And he says, 'Hmm. I don't remember it,'" she added. "That's when I thought he had dementia."

She said she never heard him say derogatory things toward black or Hispanic people before she heard the tape, but she did not blame the incident on dementia.

Related: NBA Bans Clippers Owner Donald Sterling For Life

Sterling, herself accused of making inflammatory remarks toward other races in the past, said she's never said any racist remarks either.

"I'm not a racist," she said. "I've never been a racist."

Sterling said that if the NBA tries to force her to sell her half of the Clippers, she would "absolutely" fight to keep her stake in the team.

The league announced Friday that former Citigroup chairman and current Time Warner chairman Richard Parsons has been named interim CEO of the team, but nothing concrete in terms of ownership or whether Shelly Sterling will be forced to sell her share of the team.

"I don't love him. I pity him and I feel sorry for him" - Shelly Sterling

 Read the full story and see the interview: www.abcnews.go.com

Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - No comments:
Labels: , , , , , , , ,

Monday, April 28, 2014

Sterling's Dirty Deposition: Once Testified About Paying For Sex Acts --For this circus, Sterling LOSES his team??!!

April 28, 2014 Alexandra Castro , Donald Sterling 0 Comments
By The Smoking Gun, Apr. 28, 2014

In light of Donald Sterling’s recorded musings on matters of race, The Smoking Gun is revisiting a sworn deposition that the Los Angeles Clippers owner gave in 2003 in connection with a lawsuit he filed against a former mistress.

Sterling and his wife sued Alexandra Castro to recover property that the 80-year-old billionaire gave her during the course of their relationship. While the litigation was settled before trial, Sterling was deposed over three days by Castro’s counsel.

As first reported in these pages, Sterling initially denied under oath having an affair with Castro, but subsequently admitted to paying her for “sucking me all night long.” Sterling described Castro as a “total freak” and “piece of trash” whom he paid $500 per “trick.” Describing his relationship with Castro, Sterling testified, “It was purely sex for money, money for sex, sex for money, money for sex,” adding that the couple would have sex “all over my building, in my bathroom, upstairs, in the corner, in the elevator.”

A review of Sterling’s testimony offers further details of how, according to the wealthy businessman, he was victimized by a predatory, sex-crazed younger woman. Deposition highlights included:

* When asked about a trip he took to Paris and Rome with Castro, Sterling replied, “For sex. I travelled with her for sex.” Though he could not always perform due to “all of these nine pills a day,” Sterling noted, “But whenever we traveled anywhere on the trip, she kept a record. And she told me how much I owed her, and I paid her. I paid her for every time we ever fooled around.”

* Recalling that, “We went to Paris to have sex,” Sterling testified that Castro wanted to tryst in an airplane bathroom, but “I wasn’t physically able to.” Sterling and Castro were joined on that European trip by Castro’s mother, who flew to Italy on the businessman’s dime. After spending time with his mistress and her mom, Sterling testified that he met up with his wife for the remainder of his overseas vacation.

Read the full story:  www.thesmokinggun.com
By - No comments:
Labels: , , ,

Donald Sterling to GF: How Can We Make This Go Away? --Shakedown, GF may have 100 hours of tapes!

April 28, 2014 Donald Sterling , Los Angeles Clippers 2 Comments
By TMZ Staff, Apr. 28, 2014


Donald Sterling contacted his ex-girlfriend Sunday and asked her flatly, "How can we make this go away?" ... sources connected with Sterling tell TMZ Sports.

Our sources say ... Sterling is keenly aware V. Stiviano is in possession of more than 100 hours of recordings ... some of which are extremely damaging to Sterling's reputation.

Our sources say Stiviano told Sterling to call her lawyer ... and thereby opened the door to settlement discussions. It's obvious the incentive for Sterling is to make sure the rest of the tapes never see the light of day.

TMZ Sports contacted Stiviano's lawyer Mac E. Nehoray ... who had no comment.

We know Stiviano is extremely upset that the Clippers and Donald Sterling publicly embraced a lawsuit filed by Sterling's wife Shelly against Stivianio, claiming she stole $1.8 million from Donald.

Read the full story: www.tmz.com
Follow Larry Elder on Twitter
"Like" Larry Elder on Facebook
By - 2 comments:
Labels: , , ,