Steve Ballmer

Report: Ballmer’s $2 billion Clippers offer nearly double what Bank of America valued team at

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If you’re Steve Ballmer and you want to make sure you win a bid for the Los Angeles Clippers, what is 10 percent of your net worth?

That’s what Ballmer agreed to do when he bid $2 billion for the Clippers in a deal agreed to by Shelly Sterling and the lawyers for the Sterling family trust. (A sale Donald Sterling is trying to blow up in multiple court cases.)

That $2 billion bid was way, way more than what the “bid book” on the team put together by Bank of America valued the team at, reports Ramona Shelburne and Darren Rovell of ESPN, who got their hands on the bid book.

Ballmer’s $2 billion final bid is 12.1 times the expected 2014 revenues of the team, according to the numbers given to the bidders by Bank of America, which conducted the sale on behalf of the Sterling trust. The document was introduced into court Tuesday and subsequently obtained by ESPN. A person with knowledge of the sale confirmed that bidders were given these documents….

“No team in the history of sports has sold for six times total revenues, so that should give you an idea of how crazy this purchase price is,” said a sports banker who was not involved in the transaction.

Even according to Bank of America, no team has been purchased for more than five times its total revenues. Before the bidding began, Bank of America valued the Clippers between $1 billion and $1.3 billion, double the $550 million sale price of the Milwaukee Bucks, which had set a league record for a sale price just months before.

Clippers interim CEO Dick Parsons (the guy the NBA put in charge) said on the stand in the Sterling v. Sterling probate case on Tuesday that if the Ballmer sale deal goes away, he doesn’t think they will get as much the next time around.

Ballmer didn’t go bargain shopping, but he (like other recent buyers of NBA franchises) are betting on a more owner-friendly CBA, a new more lucrative television deal, and the general growth in popularity of the league, to make up that money over time.

Plus, if you really want something and you can afford it, why not? That’s how I feel about the occasional nice single malt Scotch from the Highlands. If Ballmer feels the same way about the Clippers, why shouldn’t he spend?

Russell Westbrook says he will not kneel for national anthem “as of right now”

Oklahoma City Thunder guard Russell Westbrook spins the ball as he poses for photos during the 2016-2017 Oklahoma City Thunder Media Day in Oklahoma City, Friday, Sept. 23, 2016. (AP Photo/Sue Ogrocki)
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Without question, some kneeling/raised fist protests of the National Anthem are coming to the NBA once preseason games start in a couple of weeks. Clippers’ coach Doc Rivers has already come out saying “there’s no more American thing to do than to protest.” Teams are discussing the need for social change.

While the NBA has a rule that players must stand for the anthem, the NBA and players’ union are already discussing exactly how and if that rule should be enforced.

While some players will kneel, Russell Westbrook will not be among them. Probably. Here’s is what he told Fred Katz of the Norman Transcript.

Obviously, Westbrook is leaving himself some wiggle room here. Also, if there is one NBA star you can expect to be blunt about the situation when talking to the media, it’s Westbrook (when he feels like opening up to the media, anyway).

I expect few if any of the NBA’s top stars — the guys with the biggest international brands — will join the protests. However, there certainly will be players taking part. For a league that sees itself as progressive — and has a more politically progressive fan base compared to other American sports — how the league handles this will be watched.

Timberwolves coach and president Tom Thibodeau thanks Kevin Garnett after retirement announcement

BOSTON, MA - APRIL 28: Kevin Garnett #5 of the Boston Celtics sits not he bench prior to Game Four of the Eastern Conference Quarterfinals of the 2013 NBA Playoffs against the New York Knicks on April 28, 2013 at TD Garden in Boston, Massachusetts. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Jared Wickerham/Getty Images)
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Tributes have poured in all over the NBA world since Kevin Garnett announced his retirement on Friday afternoon — from other players, commissioner Adam Silver and media members who covered him. Garnett and Tom Thibodeau have a lengthy history together: Thibodeau coached Garnett in Boston as an assistant under Doc Rivers, and they won a championship in 2008. This spring, Thibodeau took over as head coach and president of basketball operations for the Minnesota Timberwolves, the team that drafted Garnett, saw his best years and saw him end his career. Thibodeau released a heartfelt statement on Saturday congratulating Garnett:

“I would like to take this opportunity to congratulate and thank Kevin for all of his great accomplishments and contributions to the NBA, the Minnesota Timberwolves organization, and for me personally with the Boston Celtics. Kevin combined great talent with a relentless drive and intelligence. I will always cherish the memories of the way in which he led the Celtics to the 2008 NBA Championship. His willingness to sacrifice and his unselfishness led us to that title. Kevin will always be remembered for the way in which he played the game. His fierce competitiveness, his unequalled passion for the game, and the many ways in which he cared about this team was truly special. KG is without question the all-time best player to wear a Minnesota Timberwolves jersey, and he is also one of the best to ever play this game.”

It’s a shame that Thibodeau didn’t get to coach Garnett again in Minnesota, but the team is in good hands with Andrew Wiggins and Karl-Anthony Towns.

Pacers unveil 50th anniversary patch for their uniforms (PHOTO)

NEWARK, NJ - MARCH 28:  Leandro Barbosa #28 of the Indiana Pacers looks on against the New Jersey Nets at Prudential Center on March 28, 2012 in Newark, New Jersey. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Chris Chambers/Getty Images)
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The Indiana Pacers have been a franchise for 50 years — 10 in the ABA and 40 in the NBA. To celebrate this anniversary, they’ve unveiled a new patch that they will wear on their uniforms this season. You can check it out below:

It looks pretty sleek, combining the Pacers’ logo with the zero in “50.” It’s subtle and well-designed.

Kobe Bryant pays tribute to Kevin Garnett on Twitter

LOS ANGELES, CA - JUNE 12:  Kobe Bryant #24 of the Los Angeles Lakers puts a shot up over Kevin Garnett #5 and Paul Pierce #34 of the Boston Celtics in Game Four of the 2008 NBA Finals on June 12, 2008 at Staples Center in Los Angeles, California.  NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Stephen Dunn/Getty Images)
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This summer, three of this generation’s defining NBA players, and three of the greatest players of all time, called it a career: Tim Duncan, Kobe Bryant and Kevin Garnett. The latter two in particular had a lot in common, as psychotic competitors and polarizing personalities. They had many memorable battles over the years, including the Lakers-Celtics Finals in 2008 and 2010 (they each won one) and the playoffs in 2003 and 2004, when Garnett was in Minnesota. On Saturday afternoon, a day after Garnett officially announced his retirement, Kobe paid tribute to him with a tweet.

The next time they’ll be together is 2021, when they go into the Hall of Fame together.