Monday, Sep 22, 2014

A galaxy of stars show interest in buying Clippers

Associated Press | Los Angeles | Posted: May 2, 2014 1:48 am

If Donald Sterling is compelled to sell the Los Angeles Clippers, the list of potential buyers has more stars than their roster. Oprah Winfrey is contemplating a bid. Sean Combs is a Knicks fan, but he wants in.

Floyd Mayweather Jr. wants the whole team. Matt Damon wants a tiny piece. Billionaires, entertainers and athletes alike announced their intentions to pursue the Clippers with varying degrees of seriousness Wednesday, proving the longtime losers will be quite a prize if the NBA is able to wrest control of the team away from Sterling after his lifetime ban for racist remarks.

Winfrey led the list, and the media mogul is already bringing in her friends. “Oprah Winfrey is in discussions with David Geffen and Larry Ellison to make a bid for the Los Angeles Clippers should the team become available,” spokesperson Nicole Nichols confirmed in an email.

If Winfrey joins Geffen, the billionaire entertainment executive, and Oracle CEO Ellison to pool their vast resources for a bid, they could be among the top contenders for a franchise that would be among the most valuable sports properties to hit the market since the Los Angeles Dodgers’ $2 billion sale in 2012 to the Guggenheim Partners group fronted by Magic Johnson, the Lakers great and another potential Clippers bidder.

The Clippers spent the last three decades rotting in the shadow of the glamorous Lakers, who piled up championships while the lowly Clips only racked up losses.

With Sterling’s ouster, the Clippers suddenly became the most attractive team in town to wealthy fans lining up for an unlikely chance to seize control of a Hollywood sports franchise on the move.

David Carter, the executive director of USC’s Sports Business Institute, identifies multiple factors contributing to the Clippers’ extraordinary value.

“Interest in the team results from the combination of NBA teams being rare assets that are seldom available for purchase, the location of this particular team, and potential owners’ belief that revenue streams linked to rehabbing the brand and participating in future revenue linked to a new TV deal all make the team very attractive to prospective buyers,” Carter said.

For a day, almost everybody seemed interested in being those buyers — and even entertainers without those limitless resources were clamoring for the chance. Combs, Rick Ross and Snoop Dogg all aired their interest, as did longtime Clippers fan Frankie Muniz and Damon, who told CNBC he’d like to be a “super tiny minority investor.”

Fans also got in on the frenzy, opening campaigns on Kickstarter and Crowdtilt to pool their resources for the club.

Mayweather spoke seriously about his interest while preparing for his fight with Marcos Maidana this Saturday, although Money May would have to curb his enthusiastic sports gambling habit. Oscar De La Hoya, the majority shareholder in Golden Boy Promotions whose statue sits outside Staples Center, volunteered himself as a part-owner.

“The league has made it known that it wants more minorities involved, and as a proud Mexican-American, I will bring a different perspective to the NBA in general, and the Clippers in continued…

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