The LA Times has reported that former Microsoft chief executive Steve Ballmer has won the bidding war over the Los Angeles Clippers with a bid of $2 billion.
Former owner Donald Sterling allowed his wife to sell the team before the family could be ousted from ownership. He lost the team after he insulted African Americans in a secret audio recording.
Ballmer beat out competitors including Los Angeles-based investors Tony Ressler and Bruce Karsh, as well as a group led by David Geffen with bids of $1.6 billion and $1.2 billion respectively.
Ballmer announced that he would be leaving Microsoft last August, and he has an estimated net worth of roughly $20 billion. He has no intention of moving the Clippers if the purchase, which requires the approval of three-fourths of the 30 NBA owners, goes through.
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