Since Adam Silver announced that the NBA would force ownership out of the hands of Donald Sterling, potential owners have been lining up throwing their hat into a bucket, hoping they can profit off of one racist owners misfortunes. Obviously if you’re looking to purchase a high-profile professional team, you’re going to have to cough up some dough, but now we may have a starting price on the sale thanks to Grantland’s Bill Simmons.
Hearing the basement for a Clippers offer now starts at 1.8 billion. There is no way they go for less than 2b if it becomes an auction.
— Bill Simmons (@BillSimmons) May 26, 2014
There’s no guarantee Simmons’ projection is true, but let’s just act like it is.
The Sacramento Kings, ranked 16th on Forbes NBA Team evaluation list. sold for $534 million, a then-record for the highest sale of a team in the league’s history. The Milwaukee Bucks, ranked 30th on Forbes NBA Team evaluation list, would topple the Kings’ record sell, being moved for $550 million, 35 percent higher than the $405 million Forbes had the franchise ranked at. The Los Angeles Clippers are valued at $575 million by Forbes, the 13th highest on the list.
If we just multiplied the Forbes evaluation number for Los Angeles by how percentage increase made in the Bucks sale, a 35 percent-ish increase, that’d mean the Clippers would sale for around $776 million, almost a billion off of Simmons’ projection.
Regardless of what the beginning and final price will be, the Clippers are going to sale for a lot of money, especially compared to the $12 million Donald Sterling paid to originally own the club in 1981. He’s going to benefit from a major surplus when the league forces him to sell the team, but it’ll come at the price of losing one of his most prized possessions.
And everyone in the world is fine with that.