When the Los Angeles Clippers are finally on the open market, Oprah Winfrey, Yao Ming, Steve Ballmer, and any other name that has been linked to a potential purchase for the Clippers will have some serious competition for Donald Sterling’s franchise:
Confirmed that LA’s richest man, Patrick Soon-Shiong, is indeed bidding for the LA Clippers.
— darren rovell (@darrenrovell) May 27, 2014
For those unfamiliar with Patrick Soon-Shiong, myself included, Soon-Shiong made his way up into the upper echelon of society through his work in health care, making his initial break in 1993. Soon-Shiong is also known for the development of Abraxis BioScience (found in 1991, sold for $3 billion in 2008) and America Pharma Partners (founded in 1997, sold for $5.6 billion).
Per Forbes’ annual rankings, Soon-Shiong is worth ~$9.9 billion. In the publications listing of the richest people in the world, Soon-Shiong ranked 131st overall, 45th overall when only counting those that reside in the United States.
Purchasing the Los Angeles Clippers wouldn’t be Soon-Shiong’s first time showing interest in the NBA. Soon-Shiong has been a fan of the Los Angeles since the Showtime Lakers era and in 2011, Soon-Shiong purchased the shares of former Lakers point guard Magic Johnson, giving the billionaire a 4.5 percent minority stake in the Los Angeles Lakers.
“It is an honor for me to be part of the Lakers family and the nation’s foremost basketball franchise,” said Soon-Shiong following the purchase. “The Lakers’ leadership and spirit of community engendered by Dr. Jerry Buss and his family is an inspiration to us all. Our family looks forward to a future filled with the excitement this team brings to the city and the nation.”
It’s fair to say that if the bidding comes down to Soon-Shiong versus the field, Soon-Shiong has the clear advantage.