Steve Ballmer Officially Takes Ownership of LA Clippers

This file photo taken Nov. 19, 2013, shows then Microsoft CEO Steve Ballmer during the company's annual shareholders meeting in Bellevue, Wash. An individual with knowledge of negotiations to sell the Los Angeles Clippers said Shelly Sterling has reached an agreement to sell the team to Ballmer for $2 billion. The individual, who wasn’t authorized to speak publicly, told The Associated Press on Thursday, May 29, 2014, that Ballmer and the Sterling Family Trust now have a binding agreement. The deal now must be presented to the NBA. Ballmer beat out bids by Guggenheim Partners and a group including former NBA All-Star Grant Hill. (AP Photo/Elaine Thompson, File)
In this Jan. 25, 2014, photo, then-Microsoft CEO Steve Ballmer, left, shakes hands with former NBA players Bill Russell, right, and "Downtown" Freddie Brown as Omar Lee looks on during an NCAA college basketball game between Washington and Oregon State in Seattle. An individual with knowledge of negotiations to sell the Los Angeles Clippers said Shelly Sterling has reached an agreement to sell the team to Ballmer for $2 billion. The individual, who wasn’t authorized to speak publicly, told The Associated Press on Thursday, May 29, 2014, that Ballmer and the Sterling Family Trust now have a binding agreement. The deal now must be presented to the NBA. (AP Photo/Elaine Thompson, File)
In this Jan. 25, 2014, photo, then-Microsoft CEO Steve Ballmer, left, shakes hands with former NBA players Bill Russell, right, and “Downtown” Freddie Brown as Omar Lee looks on during an NCAA college basketball game between Washington and Oregon State in Seattle.  (AP Photo/Elaine Thompson, File)

Donald Sterling’s reign as the owner of the Los Angeles Clippers is officially over Tuesday after the NBA confirms the sale of the team to former Microsoft CEO Steve Ballmer.

According to ESPN, the deal, worth $2 billion, is officially complete after months of legal issues. NBA Commissioner Adam Silver banned Sterling in May after racially insensitive comments and was told to sell the team, but he then sued the league. Sterling lost said lawsuit weeks ago.

The NBA Board of Governors previously approved the sale of the Clippers to Ballmer, the former Microsoft CEO who bid $2 billion for the team in May. Sources tell ESPN’s Ramona Shelburne that league owners then voted to approve the sale of the team to him on July 15. Drafts of the Clippers sale bid book, given to bidders by Bank of America and obtained by ESPN.com, revealed that the $2 billion price paid would be 12.1 times the expected 2014 revenues of the team. The bid book noted that the highest previous sale was the record that Ballmer beat, the Milwaukee Bucks, which sold for $550 million this year and a then-record five times total revenue.

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