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Oprah Winfrey Interested in Buying L.A. Clippers

Apr 30 2014, 7:14pm CDT | by , in News | Latest Sports News

Oprah Winfrey Interested in Buying L.A. Clippers
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Talk show host Oprah Winfrey is said to be interested in purchasing the Los Angeles Clippers, per ESPN.

Oprah Winfrey as owner of the Los Angeles Clippers?

This may very well be a possibility, according to an April 30 ESPN update

"Oprah Winfrey, David Geffen and Larry Ellison will join together in a bid to buy the Los Angeles Clippers if the NBA's board of governors votes to force Donald Sterling to sell the team, Geffen told ESPN's Jeremy Schaap on Wednesday.

"Geffen said he and Ellison would run the team, while Winfrey would be an investor. 

"'Oprah is not interested in running the team,' Geffen told Schaap. 'She thinks it would be a great thing for an important Black American to own (another) franchise.'

"'The team deserves a better group of owners who want to win. Larry would sooner die than fail. I would sooner die than fail. Larry's a sportsman. We've talked about this for a long time. Between the three of us, we have a good shot.' 

"Winfrey's spokesperson, Nichole Nichols, issued a statement later Wednesday, confirming Geffen's claim. 

"'Oprah Winfrey is in discussions with David Geffen and Larry Ellison to make a bid for the Los Angeles Clippers should the team become available,' Nichols said in the statement. 

"Geffen, a music and film mogul with a net worth that Forbes estimates at $6.2 billion, reportedly tried to buy at least a controlling stake in the Clippers in 2010 for $600 million but was rebuffed by Sterling."

The Chicago Tribune's Andy Grimm notes the Clippers have a value of $575 million while Oprah has a net worth of $3 billion, citing Forbes Magazine

Grimm then goes into greater detail on the Clippers' business side in his article. 

"Sterling paid $12.5 milion for the Clippers in 1981. The team sale is going to crush the (Milwaukee) Bucks' sale price and could reach $1 billion. The NBA is on the verge of signing a new national TV package that is expected to top $2 billion annually, compared to $930 million a year under the old deals.

"The Clippers' local TV deal with Fox Sports expires after the 2015-16 season and will be renewed at a massive premium. The Los Angeles Lakes just kicked off a 20-year, $3.6 billion local deal with Time Warner Cable.

"The Clippers and Lakers have the NBA's two longest tenured owners and an NBA franchise has not come up for sale in the L.A. market in more than 30 years.

"Southern California is loaded with wealthy sports fans that will pay through the nose to join the NBA's exclusive club of owners."

 

Grimm mentions boxer Floyd Mayweather, Jr., boxing promoter Oscar De La Hoya and long-time Clippers fan Billy Crystal as among the others who are interested in purchasing the team. 

The Los Angeles Times' Melissa Rohlin reports on April 30 that NBA legend Earvin "Magic" Johnson and music mogul Sean Combs are also eyeing an ownership share with the Clippers. 

For more of the hottest sports news, check out Sport Balla today.

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