Magic Wants to Buy the Clips

[Ranma]

[tweet]https://twitter.com/BillSimmons/status/470967653214208000[/tweet]

Hard to fathom the Clippers being sold for more than the Dodgers but $2 billion seems a bit much even for my beloved Clippers, but I guess the impending TV rights have a lot to do with that.

[illastrate]

[tweet]https://twitter.com/BillSimmons/status/470967653214208000[/tweet]

Hard to fathom the Clippers being sold for more than the Dodgers but $2 billion seems a bit much even for my beloved Clippers, but I guess the impending TV rights have a lot to do with that.

Well, considering the Bucks went for over 500M with over 10 bidders, it's not that farfetched to believe a contending team in the 2nd largest US market with two of the biggest stars in the league could command up to two billion dollars.

[Ranma]

Another bandwagon buyer has registered his interest.

[tweet]https://twitter.com/darrenrovell/status/471313751765839872[/tweet]

What?! Howard Stern hasn't announced his intention to jump into the bidding process?

[tweet]https://twitter.com/darrenrovell/status/471365139162079232[/tweet]
[tweet]https://twitter.com/ramonashelburne/status/471403793788063745[/tweet]

[Ranma]

Talk about a juggernaut partnership.

[tweet]https://twitter.com/darrenrovell/status/471762590771597312[/tweet]

Unlike the Dodgers with Guggenheim Baseball Management, the Guggenheim Partners firm itself is not involved, just its co-founder and president, so Earvin Johnson would probably and hopefully not be a part of the ownership group. Magic was used and positioned as the face of the previously unkown (to laypeople) Guggenheim Partners in order to gain trust and win over a suspicious public. There is no such need in this situation.

Ronald Grover, Reuters (5/28/14)

The co-founder of investment bank Guggenheim Partners and its president are helping billionaire media executive David Geffen put together a group to bid on the Los Angeles Clippers professional basketball team.

Guggenheim said in a statement on Wednesday that co-founder and Chief Executive Officer Mark Walter and President Todd Boehly are joining Geffen's existing group of bidders, which includes television icon Oprah Winfrey and Oracle Chief Executive Officer Larry Ellison.
...

Guggenheim said in a statement that the two top executives were teaming up with Geffen to put together a bid, but that the bank itself was not officially involved in the process.

"Guggenheim is not involved in any way," a spokesman wrote in an e-mail. "Mark Walter and Todd Boehly are working with David Geffen and others to put together a bid to buy the Clippers."

Guggenheim execs say they joined Geffen bid for NBA's Clippers

[Neddy]

Talk about a juggernaut partnership.

[tweet]https://twitter.com/darrenrovell/status/471762590771597312[/tweet]

Unlike the Dodgers with Guggenheim Baseball Management, the Guggenheim Partners firm itself is not involved, just its co-founder and president, so Earvin Johnson would probably and hopefully not be a part of the ownership group. Magic was used and positioned as the face of the previously unkown (to laypeople) Guggenheim Partners in order to gain trust and win over a suspicious public. There is no such need in this situation.

Ronald Grover, Reuters (5/28/14)

The co-founder of investment bank Guggenheim Partners and its president are helping billionaire media executive David Geffen put together a group to bid on the Los Angeles Clippers professional basketball team.

Guggenheim said in a statement on Wednesday that co-founder and Chief Executive Officer Mark Walter and President Todd Boehly are joining Geffen's existing group of bidders, which includes television icon Oprah Winfrey and Oracle Chief Executive Officer Larry Ellison.
...

Guggenheim said in a statement that the two top executives were teaming up with Geffen to put together a bid, but that the bank itself was not officially involved in the process.

"Guggenheim is not involved in any way," a spokesman wrote in an e-mail. "Mark Walter and Todd Boehly are working with David Geffen and others to put together a bid to buy the Clippers."

Guggenheim execs say they joined Geffen bid for NBA's Clippers

I like this.

this erases an ex laker Magic off the list, brings in some of the wealthiest people in America to own and operate the Clips. it also eliminates any one of the partners going through financial troubles to use the franchise as their ATM, the ownership will simply buy out whomever is in red and move on, if that situation would ever arise. also they won't be anything like Donald in terms of leaching off of the revenue sharing to enrich himself first before the team has any success.

[Ranma]

[tweet]https://twitter.com/ramonashelburne/status/471896248446771201[/tweet]
[tweet]https://twitter.com/ramonashelburne/status/471926377248063488[/tweet]
[tweet]https://twitter.com/DanWoikeSports/status/472031523118399488[/tweet]
[tweet]https://twitter.com/ramonashelburne/status/472089436906205184[/tweet]
[tweet]https://twitter.com/McCannSportsLaw/status/472092776020996096[/tweet]