In a mind boggling deal, Steve Ballmer, ex-CEO of Microsoft the long time business partner to Bill Gates and had just retired (or resigned) from the software company a year ago, offered $2 billion to Donald Sterling for Los Angeles Clippers. For those whom do not know, LA Clippers is the other NBA franchise in Los Angeles besides LA Lakers, the one that used to house Kareem Abdul Jabaar, Magic Johnson, Shaq and Kobe Bryant who is still there.
Although Lakers is a much bigger franchise, the last 2 years Clippers happened to perform much better. In any case, the $2 billion valuation on Clippers is out of this world and so are the many deals that just happened i.e. Apple purchase of Beats, Facebook on Whatsapp etc.
Even more ironically, the sale of Clippers is about to be forced by NBA itself as Donald Sterling made a very bad racist remark filmed and exposed recently. That would however still make him a very rich man by selling a franchise which he bought for $12.5 million in 1981.
This deal is for sure a "toy" thingy for Ballmer as he had just retired and what's best to do than to own a NBA franchise in LA. So look out for the best potential assets, and do also look out for the richest guy around whom had just retired. He may want to have a piece of "toy" around town at any price.
A little bit about the deal can be read here.
2 comments:
Hi Felicity, regarding the syariah issue affecting Padini, may i get your view? Will u think it is a good move to buy more Padini share? Thanks.
Regarding whether it is a Syariah compliant stock, I think in the short run, it may affect.
Then when it does affect the stocks price, I would think it is time to buy then.
Post a Comment