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Clippers Deal Allows Mrs. Sterling Small Role

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Updated 12 months ago on
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Clippers co-owner Shelly Sterling decided to sell the team last week rather than fight to maintain half ownership in part because of a novel arrangement that will make her “owner emeritus” and fund a major foundation to serve the poor, minorities and battered spouses, according to people familiar with the $2-billion sale of the team.

The special provision in a sales agreement signed last week with former Microsoft chief executive Steve Ballmer will allow Sterling, 79, to maintain a significant presence with the franchise, even though she is giving up her 50% stake.

via James Rainey of the Los Angeles Times

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