David Geffen interested in buying
Billionaire media executive David Geffen is thinking about purchasing the Los Angeles Clippers basketball team, based on an individual with understanding of Geffen’s thinking, following a determination by National Basketball Association commissioner Adam Gold to bar Clipper owner Donald Sterling for a lifetime.
Silver said he’d need other NBA team owners to pressure the professional business to be sold by Sterling.
The NBA on Tuesday banned Sterling in the sport for a lifetime and fined him $2.5 million for racist remarks that drew a storm of outrage from people, fans, industrial vendors as well as President Obama.
Geffen, who started the Dreamworks movie business and also two record labels with director Steven Spielberg and Jeffrey Katzenberg, had expressed interest previously in purchasing the Clippers but never made an offer.
He’s a net-worth of approximately $6.2 billion, according to Forbes magazine.
Sterling, the longest-tenured operator of the 30 NBA teams, will soon be banned from any part within the functions of his group or have the ability to function as among the group’s governors, NBA Commissioner Adam Silver said in a news conference in Nyc.
The debate started on the weekend once an audio-recording was launched by the star site TMZ.com basically of Sterling criticizing a lady friend for associating with “black people.”
The recording included Sterling asking his friend to not ask former Los Angeles Laker superstar player Earvin “Magic” Johnson to activities.