Why Richard Parsons Was Chosen to Lead the Clippers

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May 9 (Bloomberg) -- Former Citigroup Chairman Richard Parsons was named interim CEO of the NBA’s Los Angeles Clippers, whose owner has been banned from the league for making racist comments. Scott Soshnick recaps his conversation with Parsons on Bloomberg Television's "Street Smart." (Source: Bloomberg)

What did he tell you?

He doesn't know what he's getting into.

He has no idea.

Fully willing to admit, i don't know what this will be?

Is there anyone you can talk to they can give you a blueprint?

The answer is no.

There really is no blueprint.

He doesn't know what he's stepping into.

He will get there this weekend and take the temperature.

He's coming to this team with some advantages in place.

He was a basketball player, a college player himself.

He's african-american.

Those two things combined help to sort of bridge this gap and in some ways might help with the healing that needs to happen.

Can you imagine being a player and having to go out and play knowing the guy in charge has said what he has said?

That's why they wanted him out there as quickly as possible.

It was affecting the players.

What items folder -- adam silver told dick was, i need you to be there as a steady influence.

If somebody needs to have a word for the fans, it is you.

They need somebody who can act as the authority figure, a spokesman for that team.

The interim.

The nba plan is to sell the team.

If a new buyer comes in, the new owner of the team would want to implement his own staff.

It's convoluted.

Assuming dick parsons is successful, which we should assume he will, that's more money in sterling's pocket.

When this team is sold, if he agrees, whatever the proceeds of that sale are, they're going to donald sterling, who paid 12 million ducks for it.

-- bucks for it.

The valuation is north of 550? they're saying six.

The nba's national tv contract coming due -- very surprised most sports bankers say if you're not looking north of $800 million.

We look forward to hearing

This text has been automatically generated. It may not be 100% accurate.

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