Donald Sterling released a new statement today about his intention to fight to keep the Clippers:
Given his estranged wife Shelly’s agreement to indemnify the NBA in this situation, it wouldn’t seem to make a whole lot of sense, but apparently there’s an escape clause in Steve Ballmer’s $2 billion purchase contract that he could exercise if this all gets drawn out. TMZ reports:
Behind the scenes there’s concern that Donald’s latest flip-flop could blow up her $2 billion deal to sell the Los Angeles Clippers. We’ve learned there’s an escape clause in her deal with Ballmer, which gives him the right to nix the deal if she doesn’t have clear authority to sell the team. So Shelly’s legal team will try to shut down Sterling by telling the judge there can be no argument … Donald is “incapacitated” and therefore he has no voice anymore in the team’s business.
What would the contingency plan be if Ballmer bailed?
Related: Economists Say Clippers Are Worth Far Less Than $2 Billion, Steve Ballmer “Bought a toy”
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