Unless you have been living in Antarctica without a Wi-Fi connection, you are familiar with the Donald Sterling situation. The levels of outrage over a private recording where Sterling admits to “not wanting black people to come to Clippers games,” reached epic proportions. The Sterling saga took over all news outlets, talk radio, office discussions, and the internet. The fallout from Sterling’s comments was so severe that advertisers voided their contracts with the Clippers. The public’s fury left the NBA’s commissioner, Adam Silver, with no choice but to suspend the Clipper’s owner indefinitely. Silver also promised that Sterling would be force to sell his team, the Clippers. Clearly, there is no way that Donald Sterling could have ever imagined that all of this would happen as a result of a secret recording. Or did he? Could all of this have been planned?
Donald Sterling is an 80-year old man. It has been revealed that he has prostate cancer. He has also been diagnosed with having dementia. Not to mention that he has an estranged wife and a mistress. Simply put, Sterling does not have long to live. The Clippers were one of his biggest assets. But how much was the team really worth? Upon his death, how much money would he be passing on to his family? Before the scandal the Los Angeles Clippers were valued somewhere in the neighborhood of $500 million. But in order to get an actual value of the team, it would have to be put on the selling block.
Buying a sports franchise is a long process. In recent cases, these sales can take anywhere from 6 months to 2 years. First, a team would have to become available. Second, a bidding war has to take place, and a winner selected. Third, the funds of the winning bidder would have to be verified including a background check. Then finally, team owners would have to approve of the sale. You can hear Donald Sterling mimicking Sweet Brown saying, “Ain’t nobody got time for that!”
So what do you do? You leak an audiotape to TMZ. A tape that him and his family knew existed before it was made public. Public outrage forces Sterling to sell the team. Big names such as P. Diddy, Oprah, Grant Hill, and others are all involved in the process. The result? The Clippers sold for 4 times as much as estimated, $2 billion to be exact. How long did it take to complete the process?
Well from the time the tape leaked to the sale of the team, a little over 5 weeks. Amazing! Just another example of the public putting a rich person in their place. Nothing says discipline like forcing someone to make $1 billion. I’M JUST SAYING!