OT - Clippers Owner Donald Sterling to GF -- Don't Bring Black People to My Games

The effective fine is far greater than 2.5 million

Listening to Mike and Mike, and they brought up an interesting point.

If the owners force Sterling to sell, he will have to pay a capital gains tax on the difference between the purchase price (12.5 million) and the sale price (estimated over 1 billion). So, the forced sale of the team will cost Sterling over $300,000,000.

If the NBA does not force a sale, then Sterling could pass the ownership to his wife and then a valuation would be made at that time. Then, upon Sterlings death, the wife would only have to pay capital gains tax on the difference between the valuation at time of transfer and the time of death. Potentially only a couple million dollars.

So that 2.5mil fine looks to get much much larger if Adam Silver has his way.

 

Re: The effective fine is far greater than 2.5 million

Yeah I posted that yesterday on the Sterling thread...

 

Re: The effective fine is far greater than 2.5 million

OK, I actually had it wrong.

If the team is sold out from under him, that's tax on ~1 billion. But, if he can transfer ownership before the NBA sells the team, then his wife would only pay tax on the difference between the valuation and the 1 billion.

 

Curious!

How can the league collect 2.5 million from Sterling? Just because they fine him doesn't mean he will just hand over the cash. Does the league have access to his banking accounts? Just wondering

 

Re: The effective fine is far greater than 2.5 million

I don't feel bad for the dude since he originally paid something like $12.5M for the team and gets to flip it for over $1B.

 

Re: The effective fine is far greater than 2.5 million

I don't think anyone feels bad bro. What I'm worried about is him using this force sale as some anti-trust lawsuit, possibly costing the other nba owners billions.

 

Agreed!

 

Yeah, that was a great read. I saw it yesterday and just assumed someone had already posted it in this massive thread.

 

Wow! first female sports owner? Wouldn't that be something.

 

yeah..good read..his opinion was well stated

 

Sterling has family involved in the team that could take it over without selling. His wife for one. I'm glad they banned the asshole

 

hardly a first

http://www.nysun.com/sports/women-owners-slowly-gaining-traction/79969/

http://www.forbes.com/2009/10/14/nascar-wwe-football-business-sports-women.html

 

http://www.forbes.com/sites/davidla...l-should-form-group-to-purchase-l-a-clippers/

Billy Crystal Should Form Group To Purchase Los Angeles Clippers

Comedian Billy Crystal’s net worth is listed as only $45 million so he obviously wouldn’t be able to buy the Los Angeles Clippers, valued at $575 million by Forbes, by himself. But the unlikely prospect of having arguably the most famous Clippers fan put together a group to take the team off embattled owner Donald Sterling’s hands has to be enticing.

If nothing else, it would ease the thick tension hanging over the organization in the wake of alleged racist comments caught on tape by TMZ of a man said to be Sterling telling his girlfriend to not take pictures with black athletes, including Magic Johnson, or to bring them to “his games”.


Crystal directed and starred in a funny movie in 1995 called “Forget Paris” in which he played an NBA official struggling with life on the road and how it affected a personal relationship. In one scene, the character Crystal plays completely goes bonkers during a game and throws out every player on the court, including Kareem Abdul-Jabbar.

Crystal was also able to turn the saddest moment in his life – the sudden death of his father when he was only 15 – into a witty and touching play called “700 Sundays” which is currently airing on HBO.


Now 66, Crystal is also part owner of the Arizona Diamondbacks despite being a die-hard Yankee fan. His business interests also include stock investments, real estate holdings and endorsement deals with CoverGirl cosmetics. He also owns restaurants, launched his own vodka brand, and started a fashion line and perfume.

Will the owner’s box ultimately be turned from Sterling into Crystal? It’s not likely but, from here, it sounds good anyway.

 

Very well said, thanks for linking that article!

 

Umm... Seriously?

 

https://sports.yahoo.com/blogs/nba-...o-buy-the-los-angeles-clippers-224117308.html

Malcolm In The Middle's Frankie Muniz wants to buy the Los Angeles Clippers

As cool as that might seem, Muniz's lifestyle might get even cooler if a new opportunity comes to pass. The 28-year-old former child star is a huge Los Angeles Clippers fan and might be interested in being a part of a potential ownership group if and when Donald Sterling puts the team up for sale after receiving a lifetime ban from the NBA on Tuesday.

Frankie Muniz ✔ @frankiemuniz

I am buying the Los Angeles Clippers.
11:42 AM - 29 Apr 2014

Muniz described himself as a long-time fan of the team in an entertaining Facebook update on Tuesday. He originally became a fan while playing NBA Live '95 on Super Nintendo, always choosing the then-anonymous Clippers because it was easy to delete their players and create his family in the starting lineup.

"To be honest, they were the only team that I didn't know who any of the players on the team were, so I didn't mind deleting them and making myself, my mom, dad and my cats (Polly and Pete) the new starting lineup for the team on the game," Muniz wrote of his days growing up a Clippers fan in New Jersey of all places. "From that day forward in 1994, I have been a die-hard Clippers fan. I spent many days going to every sports store I could to find any Clippers memorabilia, but back then, it was pretty much impossible. So when I did find something, I bought everything I could that had a Clippers logo on it."

Muniz became a Clippers season ticket holder after "Malcolm In The Middle" started airing on Fox in 2000 and used to beg his producers to schedule filming around the days he had tickets. Muniz says he attended every game until 2008, when he moved to Phoenix. ("Malcolm" ended in 2006.)

"Living in Los Angeles as a Clippers fan was not easy," Muniz wrote on Tuesday. "I was constantly ridiculed over being a fan of the 'bad' L.A. team. That never bothered me. To me, all the losses made the rare win that much more enjoyable."

Muniz said he was never a fan of the controversial Donald Sterling, who has become a national talking point after his racist remarks were made public last weekend. The actor, however, believes that the Clippers are in prime position to win the first NBA title in franchise history.

"I always stated as a young teen in interviews my dream was to one day own the L.A. Clippers!" Muniz said.

So with the talented Clippers now ensconced among the NBA's elite on the court, could we see Muniz living the dream as an NBA owner? Well, he had a famous Twitter exchange back in 2010 when he told a troll that he was sitting on a $40 million retirement account at the age of 19. That's not nearly enough to buy the whole franchise, but maybe a Hollywood friend with deeper pockets would let him in on a small taste.

Or, heck, maybe he could convince another basketball-loving friend to join him.

Dear old dad supposedly made about $80 million out in a RV in New Mexico after all.

 

You go Kareem!