The "Donald Sterling's Latest Bigoted Rant And Fallout" Thread

[Suicane75]

Originally Posted by Izulde

You would have had to kill my first girlfriend then.

I could never kill a lesbian. Fierce creatures.

[nol]

Originally Posted by Arles

My point is look at how the landscape has changed from 1994 to 2014 for African American wealth.

In both 1994 and 2014 the wealthiest African-Americans came from the sports and entertainment industries. So if the vast majority of current African-Americans with the means to own a sports team are sports or entertainment icons from yesteryear, and the most famous NBA players and recording artists today are earning less money than they were 10 years ago, you can't count on there automatically being an influx of minority owners over time. Especially when the current trend in this global economy is for the wealth to become more concentrated among those who already have it.

Originally Posted by Arles

Had Whitlock instead said more progressive owners instead of black owners, I would have agreed to a point. I think guys like Jordan, Cuban, Prokharov, Robert Pera have brought a fresh perspective to the league. But it's not because of the color of their skin, but instead because they have made their money as part of a global economy where race played less of an issue.

Yeah, it's happening verrry slowly and the NBA is definitely ahead of other sports leagues/walks of life in that regard. But you should probably look up how Prokhorov earned his billions - "global economy" is definitely not the phrase I would use to describe the climate he benefitted from

edit: how do I get rid of the stupid smiley icon at the top of the post? ah, there it is

[Buccaneer]

nol, don't you think we need to create a climate and a culture change so that sports and entertainment are not the best opportunities for the black community? I look at the Chinese and Asian Indians culture and how they have come to dominate many academic fields, surpassing whites in some. In my field (IT), there are no more blacks (percentage-wise) than there were 15 years ago. This also ties in to my brother's thread on Public Education and Race but I think sports and entertainment shouldn't be highly promoted and encouraged as the only way for blacks to become wealthy. If IT and professional (e.g., medical) fields can get over their "whiteness" by having Chinese and Indians take over (sort of speak), it certainly wouldn't have any problems with people of other colors. But there needs to be a culture shift that encourages education and desire to be a rich doctor (or whatever) instead of the next Jordan or rapper. Or something like that.

[nol]

Yeah, just was making the point that absent that climate change, the sports and entertainment industries have changed enough in recent years that you can't count on more people coming down the Magic/Jordan/Oprah pipeline and becoming owners.

I would point out that being a billionaire is a different animal than being a doctor or lawyer; I'm sure African American representation in those professions is more in line with population numbers than only having 1 out of the 400+ billionaires in America. That speaks to how stuff like being a hedge fund manager or a real estate tycoon is more closely linked to opportunity than intelligence.

[Galaxy]

Could Sterling, if he is forced to sell the team, basically not have any taxes on the proceeds of the team?

26 U.S. Code § 1033 - Involuntary conversions | LII / Legal Information Institute

http://www.dailymail.co.uk/news/arti...-Clippers.html


Kind of fishy, isn't it?

[Shkspr]

Originally Posted by Galaxy

Could Sterling, if he is forced to sell the team, basically not have any taxes on the proceeds of the team?

26 U.S. Code § 1033 - Involuntary conversions | LII / Legal Information Institute

Donald Sterling could score $320m tax break if forced to sell LA Clippers | Mail Online


Kind of fishy, isn't it?

what better, fighting the NBA's lawyers or the IRS's lawyers?

[Arles]

At what point does the head of PR for Sterling just set himself on fire. Short of knocking Michael Sam, I'm not sure what else this guy can do to piss people off. Regardless of whether you believe this or not, saying it is just pointless and stupid:

Donald Sterling, banned Los Angeles Clippers owner, says Magic Johnson not good example for Los Angeles kids - ESPN Los Angeles

"Has [Magic] done everything he can do to help minorities? I don't think so. But I'll say it, he's great, but I don't think he's a good example for the children of Los Angeles," he tells CNN.

[Ben E Lou]

Now THIS is interesting...

Shelly Sterling Is The NBA's Real Nightmare

[SteveMax58]

Is it just me, or do sports franchise valuations sound terribly undervalued compared to other corporations?

The Clippers worth about $500-600M Yet we see small tech companies gobbled up for like $3-4B? I know those tech companies are more universal (and certainly less going for that dollar figure) but it just sounds weird to me. Maybe its just me. [shurg]

[CraigSca]

Interesting question I heard on morning radio - Sterling said he talked to Magic Johnson twice since the fallout. What did they talk about? Did Magic really say that he would work with Sterling, "to be patient. I will help you"?

[molson]

Originally Posted by CraigSca

Interesting question I heard on morning radio - Sterling said he talked to Magic Johnson twice since the fallout. What did they talk about? Did Magic really say that he would work with Sterling, "to be patient. I will help you"?

If Magic wants the Clippers it'd be a pretty shrewd move to play nice with Sterling. There's the whole Shelly Sherling wild card, but if Donald gets an out, "look, I'm selling to a black person!" maybe he'll take it.

[nol]

Originally Posted by SteveMax58

Is it just me, or do sports franchise valuations sound terribly undervalued compared to other corporations?

The Clippers worth about $500-600M Yet we see small tech companies gobbled up for like $3-4B? I know those tech companies are more universal (and certainly less going for that dollar figure) but it just sounds weird to me. Maybe its just me. [shurg]

Partly tech bubble, but mostly because there are structural limits to how profitable a given sports team can be. You can't get a monopoly on all the good players or TV revenue, and even if you did there would be diminishing returns because competitiveness is a big part of the appeal of sports. It's much more winner-take-all in tech, where if someone is satisfied with using Facebook, they could care less about any competing social networks.

[SteveMax58]

Originally Posted by nol

Partly tech bubble, but mostly because there are structural limits to how profitable a given sports team can be. You can't get a monopoly on all the good players or TV revenue, and even if you did there would be diminishing returns because competitiveness is a big part of the appeal of sports.

Thats a good point about the known structural limitations. It may be because sports franchises are very easy to guage proper value whereas the potential of the tech company may be much harder to quantify as it may (for instance) address an unknown/untapped market.

Plus I guess you'd have to say $500M x 30 teams (or whatever it is) to even make a fair comparison as the teams (emphasis on plurality) are necessary for the business of sports (unlike a conventional competitor).

[stevew]

Originally Posted by SteveMax58

Is it just me, or do sports franchise valuations sound terribly undervalued compared to other corporations?

The Clippers worth about $500-600M Yet we see small tech companies gobbled up for like $3-4B? I know those tech companies are more universal (and certainly less going for that dollar figure) but it just sounds weird to me. Maybe its just me. [shurg]

Those valuations are really wrong. You had two of the shitty market teams, the Bucks and the Kings sell in that range. The Clippers have to be worth a ton more than that.

[BillJasper]

Originally Posted by stevew

Those valuations are really wrong. You had two of the shitty market teams, the Bucks and the Kings sell in that range. The Clippers have to be worth a ton more than that.

Clippers have to be worth a billion easy based on the TV market they're in alone.

[Matthean]

Originally Posted by Ben E Lou

Now THIS is interesting...

Shelly Sterling Is The NBA's Real Nightmare

She's full of bull. She's never heard him use a racist remark whatsoever? Really? The guy currently can't keep his foot out of his mouth when given a mic. That switch doesn't magically get flipped so quickly.

[CU Tiger]

I would be curious as to the legal terminology of the forced sale.

I understand their fight to force him to sell, but do they get to name the selling price?

If not is it a blank check for Sterling? "I will sell tomorrow for $5Billion" and then wait until someone pays the askign price.

Or again, Sterling personally owns many of the buildings..someone could buy a team with no where to practice, or no corporate offices. Those items are easily acquired...but at what cost.

That thought process aside I am really curious who sets the valuation.

[Final aside...how interesting would it be to see Jordan's past brought through a discovery period]

[dave731]

Originally Posted by CU Tiger

I would be curious as to the legal terminology of the forced sale.

I understand their fight to force him to sell, but do they get to name the selling price?

If not is it a blank check for Sterling? "I will sell tomorrow for $5Billion" and then wait until someone pays the askign price.

Or again, Sterling personally owns many of the buildings..someone could buy a team with no where to practice, or no corporate offices. Those items are easily acquired...but at what cost.

That thought process aside I am really curious who sets the valuation.

[Final aside...how interesting would it be to see Jordan's past brought through a discovery period]

I don't see it happening...but an open book on all NBA owner's past transgressions and how the league handled it would make my bathroom reading much more interesting.

[nol]

Michael Jordan is a surly guy who likes to gamble and go clubbing. He probably had sex with a few women along the way. Given that people already know more about his personal life than any other owner, he wouldn't distance imself from the pack.

[CU Tiger]

Originally Posted by nol

. Given that people already know more about his personal life than any other owner, he wouldn't distance imself from the pack.

Even if true (which I disagree with BTW) he would still generate the most interest.

[Logan]

Donald Sterling has agreed to allow his wife Shelly to negotiate a forced sale of the Clippers, source tells ESPN.

— Ramona Shelburne (@ramonashelburne) May 23, 2014

[SirFozzie]

Looks like Sterling's "Sure I'll sell the team" was just a smokescreen to try to get the NBA to dismiss the Board of Governor's vote against him, and now that has failed, out come the lawyers...

Donald Sterling strongly responds to NBA's 'draconian' penalties - ESPN Los Angeles

[DaddyTorgo]

Ballmer? $2bn??!?!

[stevew]

Forbes is really shitty about doing evaluations.

[Matthean]

"We're outraged. We'll fight this. We want to keep it in the family. Oh, did you say 2 billion?"

[MrBug708]

Being in LA has its perks. Dodgers, Clippers getting 2 billion plus.

Can't imagine an NFL team keeping out for very long

[nol]

Originally Posted by Matthean

"We're outraged. We'll fight this. We want to keep it in the family. Oh, did you say 2 billion?"

Actually, Donald Sterling was ruled mentally incapacitated by an outside expert, giving his wife the ability to sell the team without requiring his support.

[Shkspr]

Originally Posted by nol

Actually, Donald Sterling was ruled mentally incapacitated by an outside expert, giving his wife the ability to sell the team without requiring his support.

So if the man is mentally incapacitated, it seems to me he shouldn't be able to be held responsible for anything he might say in his "incapacitated" state, right?

[nol]

Originally Posted by Shkspr

So if the man is mentally incapacitated, it seems to me he shouldn't be able to be held responsible for anything he might say in his "incapacitated" state, right?

First, this isn't an insanity plea in a court of law. Second, if the sale goes through before the NBA votes on a forced sale, the only thing he's being held responsible for is a $2.5 million fine - everything else is essentially the result of his wife being ruled the sole owner of the Clippers due to binding language in the family trust (there's probably nothing in there specifying whether or not the actual investigation into Sterling's mental capacity must be triggered by a headline-grabbing racism controversy) and then selling the team on her own terms. And I'd guess that his wife would be willing to use her sudden financial windfall to pay the fine and chalk it up as the cost of avoiding an uphill battle in court.

[stevew]

I'll believe this is over when it's over. Im sure he still has a few plays left.

[Matthean]

Originally Posted by nol

Actually, Donald Sterling was ruled mentally incapacitated by an outside expert, giving his wife the ability to sell the team without requiring his support.

His wife still said she wanted to keep it, hence the keeping it in the family part.

[stevew]

sounds like it's going to be a protracted legal battle now.

[Chief Rum]

Originally Posted by stevew

sounds like it's going to be a protracted legal battle now.

What part? Are you seeing something online that indicates the sale will be held up?

[CU Tiger]

Purely speculative here:
Sterling will contest the medical findin, pay an expert to dispute.
NBA will move forward with vote, playrs will be happy.
Sterling will sue NBA under ADA or some health condition related discriminatory BS.
Sterling will die befor eit ever goe sto court.
Trust/Wife will sell Clippers for probably less than $2BB

[SirFozzie]

From the prohardballtalk story, this is from the statement:

Mrs. Sterling and the Trust also agreed not to sue the NBA and to indemnify the NBA against lawsuits from others, including from Donald Sterling.

So, Donald Sterling has to go against his wife to get to the NBA.

[CU Tiger]

That comes with the first "contest medical ruling " line above Id suspect

[miami_fan]

Why are these people jumping at the chance to own a team in a league where 22 out 30 teams are going broke?

Oh wait...

[stevew]

I think we're going to get a prolonged lockout/miss a season when the next CBA comes up. I doubt players are going to want another haircut.

[sterlingice]

Originally Posted by stevew

I think we're going to get a prolonged lockout/miss a season when the next CBA comes up. I doubt players are going to want another haircut.

Are NBA owners angling for that? I thought after this last round, it could be like baseball where they just let it ride for a couple of CBAs with some window dressing around the edges

SI

[nol]

Originally Posted by sterlingice

Are NBA owners angling for that? I thought after this last round, it could be like baseball where they just let it ride for a couple of CBAs with some window dressing around the edges

SI

The owners would love to keep the status quo, of course, but the players would be more than justified in striking if they don't get back above a 50-50 share.

$300+ million last season that would've gone towards player salaries now goes to the owners because they successfully pretended they were going broke while franchise valuations were skyrocketing, and that number will continue to grow for the foreseeable future.

[JonInMiddleGA]

Honestly, if Sterling is seriously ill (as some rumors have suggested), I think he'd have to be nuts not to have both his wife & the golddigger knocked off.

The more this plays out, the more the theory about the two women ending up in cahoots seems reasonable.

[stevew]

Not advocating murder but I probably wouldn't cry

[stevew]

Spoiler alert
He's suing again

[SirFozzie]

Yeah, he';s not doing a good job of refuting the not-all-there tag.

[SirFozzie]

Sterling loses big.

Not only does the Judge rule that the removal of Donald Sterling from the trust was a valid action due to a medical diagnosis, he includes a rarely used order in his judgement that states. "Even if successfully appealed, the actions of the guardian during the time of guardianship are to be considered valid and final"


Judge rules against Donald Sterling's attempt to block Clippers sale - NBA - SI.com


here's the subsection of the probate code:

http://www.leginfo.ca.gov/cgi-bin/di...file=1310-1312

(b) Notwithstanding that an appeal is taken from the judgment or order, for the purpose of preventing injury or loss to a person or property, the trial court may direct the exercise of the powers of the fiduciary, or may appoint a temporary guardian or conservator of the person or estate, or both, or a special administrator or temporary trustee, to exercise the powers, from time to time, as if no appeal were pending. All acts of the fiduciary pursuant to the directions of the court made under this subdivision are valid, irrespective of the result of the appeal. An appeal of the directions made by the court under this subdivision shall not stay these directions.