Steve Ballmer to buy Clippers for $2 billion

Former Microsoft chief executive Steve Ballmer won a frenetic bidding war for ownership of the Los Angeles Clippers, with his $2-billion offer setting a record price for an NBA team, The Times has learned.

Ballmer, who was chief executive of Microsoft for 14 years, was chosen over competitors that included Los Angeles-based investors Tony Ressler and Steve Karsh and a group that included David Geffen and executives from the Guggenheim Group, the Chicago-based owner of the Los Angeles Dodgers.

A person with knowledge of the negotiations said the Geffen group bid $1.6 billion and Ressler at $1.2 billion

via James Rainey – Los Angeles Times.