michael kappel

Report: Former Microsoft CEO Steve Ballmer to buy Los Angeles Clippers for record $2 billion

Los Angeles Times has reported that former Microsoft CEO Steve Ballmer has won a bidding war for ownership of the Los Angeles Clippers with a record $2-billion offer.

Ballmer reportedly outbid David Geffen and Los Angeles-based investors Tony Ressler and Steve Karsh. The bid is almost four times the price of the previous highest NBA franchise sale and is only second to the 2012 sale of the Los Angeles Dodgers for $2.1 billion as the highest price for any sports team in North America.

Clippers owner Donald Sterling still must approve the sale.

Follow updates on BreakingNews.com.

Photo: Former Microsoft CEO Steve Ballmer will be the controlling partner for the Clippers’ new ownership group. (Michael Kappeler / EPA)