David Geffen Looking To Buy Clippers
WSJ-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.
Mr. Geffen, the multibillionaire music and film industry magnate, offered Mr. Sterling $600 million for the team about four years ago, according to people familiar with the matter, but hasn't been in contact with the league for many months, these people said.
Can I just say how totally OK I am with this? First the guy builds one of the largest music labels in the US, and then goes on to found a movie empire in Dreamworks SKG. I can only imagine what he would do to grow Clippers organization. Plus, this guy is the total Anti-Sterling. Gay and Jewish. You know this is just eating Sterling up inside. Dude is totally having a terrible day.