In hindsight, Steve Ballmer believes that he took too much from his bank just to land the full ownership of the Los Angeles Clippers.
As he appeared on the latest episode of Paul George’s “Podcast P,” Ballmer noted his utmost intent to obtain the entire L.A. franchise when it became available in 2014. But looking back, he maintained a belief that he took a massive overpay out of desperation just to secure the Clippers at his hand.
“I was all in, but then it got into the bid process. And I was still all in, but we were in the bid process, and I just said, ‘I’m gonna get this team’. People thought I way overpaid, but I got the team,” Ballmer said while sharing a laugh with George.
“I probably paid 10% more. Maybe than I needed to.”
Ballmer purchased the Clippers in a reported $2B deal with Shelly Sterling on behalf of the Sterling Family Trust. Due to the public uproar caused by Donald Sterling’s reported racist remarks, the Sterlings were pressured to place the franchise in the marketplace for sale. Following the scandal, NBA Commissioner Adam Silver slapped Sterling with a lifetime ban from the association.
As of 2022, Forbes ranked the Clippers as the sixth most lucrative NBA franchise with $3.9 billion in value.
L.A. made it to seven postseasons out of nine years that Ballmer has been sitting as their majority owner. In 2020-21, the franchise delivered its best finish upon reaching the Conference Finals.
After sharing the entire Crypto.com Arena throughout the years with crosstown rival Lakers, the Clippers are set to relocate to their newest home – the Intuit Dome – at the conclusion of the upcoming 2023-24 season.
