Report: Clippers Bidding Draws Up To $2 Billion
Two people with knowledge of the bid process said the would-be owners of the Los Angeles Clippers were likely to offer as much as four times what has been paid previously for an NBA team, which could be settled as Wednesday afternoon, according to the Los Angeles Times. Per the Times, up to five bidders are expected to offer up to $2 billion, and possibly more, for the Clippers.
“We were told this was the only bid process that would exist and that they are going to make a decision based on these initial offers,” said the representative of one prospective buyer, who asked not to be named. “It’s hard to believe they are not going to come back and try to get some extra money out of people after the first round. But that is what they said.”
The sales process is aided by co-owner Shelly Sterling a month after her husband Donald made racist remarks and was banned from alll NBA functions.
Tags: Los Angeles Clippers