Should Donald Sterling be stripped of team ownership in the NBA?
- Thread starter krichardson
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hilarious!!just caught up to the current state of affairs "in the lounge"this clip is pure gold for this thread .....too many similarities to ignore(legal "windbags")
she's putting it to him & getting a billion for her efforts...... "being entitled to" and"getting" are very often different things, even in cozy CALI
AND really to be honest STERLING isn't getting "punished"...a billion for his half of that mess he calls a team ? and that's after SHE has been given her half....BOO-FREAKIN' -HOOI am sure at some point he was putting it to her, they are married. I have no issues with wife getting half of all assets upon divorce. esp when married for that long. i happily gave every thing to my ex, house, bank account all of it, i just took my truck, tools and books. and moved 1500 miles away.
my question for the self appointed financial guru of mfk(the person I am quoting) how much was sterling worth in 81 when he bought the team and how much wealth did he gain by using THE CAPITAL GAINS( I shall explain this to him later) to PURCHASE NEW real estate....and how many times was he able to "screw the pooch" on bad investment properties because the value of his teams CAPITAL GAINS offset the losses from bad investments .....EDIT: I shall simplify this ...think of high finance as a poker game....walk in to the room with 20 times what everybody else has in money and you can"buy "a few hands from the guys that don't have much, it's an advantage, STERLING WOULD HAVE THE SAME ADVANTAGE IN REAL ESTATE DEALINGS BECAUSE OF "DEEP POCKETS"...all this because he owned the WORST RUN sports franchise in pro sports,ever....THAT KEPT GAINING VALUE BECAUSE THE SPORT BLOSSOMED IN THE 80'S &90'S, it's really NOT a stretch to say he made LOTS of money because his franchise gave him the funds to make mistakes that he could recover from .... and did our resident genius REALLY SAY CLOSE TO THE END OF THIS QUOTE THAT "STERLING PROBABLY LOST MONEY ON THE FRANCHISE" ???????? to me, our wizard might be as removed from reality as STERLING.... 15 MILLION TURNS INTO 2 BILLION????? where the crap did he lose money??????....the only way he could lose money would be to light his cigars with the annual dividends check
thinking this mite be a good post for this thread as it is,
https://www.youtube.com/watch?v=9NTDHjVKQyo
https://www.youtube.com/watch?v=9NTDHjVKQyo
Hi Lee, you must have not read the last line "The only time he will ever see real money from the Clippers is from their sale, if and when it happens". That is where the 2 Billion would come into play. Surprised you missed that, you are a smart guy...it's ok...happens to the best of us. As far as his worth is concerned, you can remove the Clippers from his "investment portfolio" at any time and he still remains a millionaire (in the 80's) and a billionaire after the late 80's early 90's til' Present. I stand by my statement that his wealth comes predominantly from his real estate holdings (some of which he acquired when he basically did Jerry Buss a favor in 1979 by buying about 2.6 million dollars worth of apts. from him so that Jerry could have enough money to close the deal to buy the Lakers, etc.) Oh, and don't forget to adjust for inflation - relative value of an amount of money in one year compared to another. As far as what Lee said above, don't be fooled by his jargon, lol. I would love to hear his explanations as he promised to give me later. Sports teams were not the only things "blossoming" in value throughout the 80's and 90's. Think Donald Trump - real estate was booming. For those of us who knew who Donald Sterling was prior to these tapes being released, most would agree that it was for being a real estate tycoon...and thinking....oh...and doesn't he own a team or something? The Clippers were secondary. They have been until these audio recording were released and as a result...Steve Ballmer offering 2 billion for the Clippers. (These sorts of things make for good headlines) Of course, even if Shelly Sterling alleges that she has full control of the trust and thus the undisputed authority to make that deal with Ballmer....from what I understand, Ballmer isn't going to feel comfortable with any deal until he gets Donald Sterling's signature on that contract...and then the NBA owners would of course have to approve the new ownership. I do find it funny that just a few pages back, many of the regulars on this thread were adamant that Shelly Sterling was not an owner of the Clippers. They rode the bandwagon that stated she had no claim to the franchise as she was not "approved" by the NBA, nor was she ever a controlling owner, and that basically her ownership in the franchise would be squashed by the NBA as it was a moot point. However, now that she allegedly has undisputed control of the Sterling Trust it's funny how those who would so easily dismiss her are seeing no hypocrisy in following her control of the Clippers all the way to the dotted line. Speaking of dotted lines...I recently read that Donald Sterling was not going to sign any final agreements to sell the Clippers so long as the 2.5 million fine and NBA lifetime ban remain in force. And like I said...whether or not Shelly Sterling has the authority to make the deal on behalf of the Sterling Trust...Steve Ballmer has made it known that he would like to see Donald Sterling's signature on that contract. When Donald Sterling signs and the NBA owners officially vote Ballmer in as the new Clippers owner....then I will start looking at Clipper's avatars. Until then, I will be eating a variety of foods...none of which will be crow (HI BOC...BTW, I'm certain I never made any bets promising to eat crow, lol). Anyways, hope all is well to everyone on here and honestly haven't been in the mood to argue about things that don't really affect my personal life. However, Lee decided to contest and post a 2 week old quote of mine...so I felt obliged to reply.
As far as me not being too active on the threads...it is not hiding, but mourning. My fiance and I actually had our dog Mini pass away at the much too too young age of 8 from an unexpected and severe case of acute pancreatitis. We literally went from her vomiting in the morning....taking her to the Vet...who sent us to the VCA Animal Hospital...and then having her go into septic shock and pass way that same night. So damn fast...we were really caught off guard. And while the vets did all that they could...it still Sucks...A LOT. This is why I haven't really spent much time earning my grey hairs here with my two favorite people in the whole world
. R.I.P. MINI Nov. 2005 - June 2014
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