Clippers’ Sale Process Begins Tomorrow With NBA Finance MeetingScott Soshnick
The process of forcing Donald Sterling to sell the Los Angeles Clippers will begin tomorrow, when the National Basketball Association said its Advisory Finance Committee will meet to discuss the matter.
The group of 10 owners, led by Minnesota’s Glen Taylor, often makes recommendations to the other owners.
The other committee members are Miami’s Micky Arison, the Los Angeles Lakers’ Jeanie Buss, Oklahoma City’s Clay Bennett, New York’s James Dolan, Boston’s Wyc Grousbeck, San Antonio’s Peter Holt, Phoenix’s Robert Sarver, Indiana’s Herb Simon and Toronto’s Larry Tanenbaum.
NBA Commissioner Adam Silver yesterday took the unprecedented step of banning Sterling for life and urging owners to force a sale of the team after the billionaire real estate developer admitted to making racist statements.
Seventy-five percent, or 23 owners, must approve the forced sale, according to NBA bylaws. Silver during his press conference said he expects owners to support his decision.
Sterling, the league’s longest-tenured owner, hasn’t said whether he would acquiesce to the sale of the team he bought in 1981.
Among those interested in buying the team is Oprah Winfrey, who in a statement said her ownership group would include music executive David Geffen and Oracle Corp. Chief Executive Officer Larry Ellison.