Sterling rejects Clippers sale, will sue NBA for $1 billion

[rocktivity]

7. Pre-emptive strike -- they probably found out that the NBA would reject the deal

...individuals close to the negotiations who weren’t authorized to speak publicly said he decided to not sign the papers after learning the NBA won’t revoke its lifetime ban and fine...

Shelly Sterling utilized her authority as sole trustee of The Sterling Family Trust, which owns the Clippers, to take bids for the team and ultimately negotiate a deal with Ballmer. The deal would be record-breaking if approved by the NBA’s owners.

If this deal ultimately goes through, its terms allow Shelly Sterling to remain close to the organization by allowing for up to 10 percent of the team - or $200 million - to be spun off into a charitable foundation that she would essentially run. Shelly Sterling...would be co-chair of the foundation, which would target underprivileged families, battered women, minorities and inner city youths.

Under the deal Shelly Sterling would also get the title of “owner emeritus” and be entitled to continuing perks such as floor seats, additional seats at games and parking.

I can't see the NBA agreeing to that, certainly not just to make him go away. Besides, isn't Shelley trying to divorce him?


rocktivity