Probably should go in to hiding. You have been beclowned...
Initial bids for the
Los Angeles Clippers have been submitted and are being reviewed by Shelly Sterling and her advisers, while sources with knowledge of the situation say bids were mostly in the $1 billion to $1.2 billion range.
Shelly Sterling, who has been given authority to sell the team by husband Donald Sterling, and her advisers will vet and separate the strongest bids over the next few days with the goal of completing what one source described as "an accelerated process" by Monday.
Shelly Sterling told bidders to submit letters of interest by Wednesday, with firm offers due by 5 p.m. ET Thursday, according to sources. It is expected a second round of bidding will take place this weekend, with a winning bid decided upon by Monday. It is unclear how many rounds will take place, especially under the accelerated time frame.
NBA commissioner Adam Silver banned Clippers owner Donald Sterling from the league for life in the wake of Sterling's racist comments.
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If a winning bid is decided upon by Monday, an agreement to sell the team would be in place before Tuesday's scheduled hearing in New York at which the other 29 team owners will vote on whether to force a sale of the team after Donald Sterling has a chance to make his case to them.
Shelly Sterling is agreeing to sell 100 percent of the team, according to sources, an important condition for the NBA.
While Donald Sterling and his lawyer "disavowed" an agreement that gave Shelly Sterling the right to negotiate a sale, sources said there is a belief among the bidders that Shelly Sterling eventually will convince him to sell the franchise and this accelerated process will be successful.
The NBA released a statement saying its advisory and finance committee met via conference call Wednesday, plans to review all documents and still intends to vote Tuesday on the matter.
http://espn.go.com/los-angeles/nba/...rly-bids-shelly-sterling-los-angeles-clippers