Shelly Sterling's Ownership Terminates Automatically After Vote

Post #1 » by **RealGM Wiretap** » Mon May 12, 2014 2:26 am

The NBA responded to comments made by Shelly Sterling about her interest in retaining ownership of the Los Angeles Clippers.

Shelly Sterling said she's prepared to fight to keep her 50 percent ownership of the franchise.

"Under the NBA Constitution, if a controlling owner's interest is terminated by a 3/4 vote, all other team owners' interests are automatically terminated as well," wrote NBA spokesman Mike Bass in a statement. "It doesn't matter whether the owners are related as is the case here. These are the rules to which all NBA owners agreed to as a condition of owning their team."

Shelly Sterling has tried to distance herself from her husband, Donald Sterling, but she defended him when confronted by paparazzi the day after his racist remarks surfaced.

Via RealGM Staff Report

Cloak · Post #2 » by **Cloak** » Mon May 12, 2014 3:47 am

damn she looks scary as hell in that picture

Jvaughn · Post #3 » by **Jvaughn** » Mon May 12, 2014 5:45 am

When is this vote finally going to happen? Are they just waiting until after the playoffs?

airaaron32 · Post #4 » by **airaaron32** » Mon May 12, 2014 10:36 am

Cloak wrote:damn she looks scary as hell in that picture

Looks like Gollum in disguise.

The_Hater · Post #5 » by **The_Hater** » Mon May 12, 2014 3:29 pm

Jvaughn wrote:When is this vote finally going to happen? Are they just waiting until after the playoffs?

My guess is the league is afraid to hold the vote right now just in case the unthinkable happens and the owners don't vote Sterling out. As I've seen written, back when they were threatening to boycott the players should have demanded an immediate vote in order to get this settled ASAP.

mj_shoefanatic · Post #6 » by **mj_shoefanatic** » Mon May 12, 2014 5:46 pm

This is great news. Terminate the entire Sterling family.

mj_shoefanatic · Post #7 » by **mj_shoefanatic** » Mon May 12, 2014 6:55 pm

10acious · Post #8 » by **10acious** » Mon May 12, 2014 8:57 pm

Ownership of the Clippers has turned into a shell game...

mhsiao · Post #9 » by **mhsiao** » Mon May 12, 2014 9:32 pm

I think teams owned by owner groups may not vote for it if this is the case and just like Mark Cuban has said it is slippery slope.

Think about, people have no control of what other people say and do in their own time and if one of owner f up than rest of owner lost their share of team.

Post #10 » by **Luv those Knicks** » Mon May 12, 2014 10:48 pm

mhsiao wrote:I think teams owned by owner groups may not vote for it if this is the case and just like Mark Cuban has said it is slippery slope.

Think about, people have no control of what other people say and do in their own time and if one of owner f up than rest of owner lost their share of team.

Kind of no different than any other M&A Transaction. You can be a stock holder in a company but if that company is bought by another company - you get your money and in that case, stock holders can hold a vote, where as in the Sterling situation, it is up to the by-laws of the league.

She's going to get market value for her share. it's not like she's being fined a few hundred million dollars. So, it's really not that unprecedented. Minority shareholders get stuff decided for them a-lot.

Now, I agree with Cuban on it being a slippery slope, but the outcome, that's for the owners to decide. It's the owners who get to decide Sterling's fate. We know which way Cuban will vote, and MJ (is MJ a majority owner or a figurehead . . . not sure), but that's 2 out of 29. 27 other owners, 21 of them will have to give Scrooge McSterling the thumbs down to get him out, otherwise he probobly stays.