The Los Angeles Times reports that Steve Ballmer, former CEO of Microsoft, has submitted a whopping bid of $2 billion to buy the Los Angeles Clippers. While Ballmer's bid is reportedly the highest one submitted, the deal has not been finalized or approved by the NBA.
According to multiple reports, Ballmer's bid was the largest by a wide margin. Record mogul David Geffen's group allegedly offered $1.6 billion and a group of L.A.-based investors led by Tony Ressler and Steve Karsh bid $1.2 billion. ESPN reports that Geffen has officially withdrawn from the bidding. Ballmer, whose net worth is estimated at $20 billion, was apparently the only suitor who was not seeking out partners to join in the bid.
A sale price of $2 billion would dwarf the previous record for the amount of money paid for an NBA team, nearly four times the $550 million paid for the Milwaukee Bucks just this month. It would be the second-highest price ever paid for an American sports franchise, trailing only the $2.1 billion paid for the Los Angeles Dodgers (and all the property they own) in 2012. Earlier this year, Forbes estimated the Clippers's current value at $575 million.