Billionaire Bevy Awaits Clippers With Forced Sale by League
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The Los Angeles Clippers soon may be for sale, triggering a billionaire bidding war that probably will result in a record price for a National Basketball Association team.
Commissioner Adam Silver yesterday took the unprecedented step of banning Clippers owner Donald Sterling for life and urging NBA owners to force the sale of a major professional sports team in the second-biggest U.S. media market. Among those who already have expressed interest in owning the team is music executive David Geffen, who the Bloomberg Billionaire Index says has a net worth of $5.7 billion. Oprah Winfrey’s spokeswoman said she and Oracle Corp. Chief Executive Officer Larry Ellison are in talks with Geffen about forming a joint bid.