Donald Sterling Signs Over Clippers to Wife Shelly

[Omaha Steve]

Source: ABC News

By COLLEEN CURRY

Donald Sterling has signed the Los Angeles Clippers over to his wife Shelly, a source close to the team confirmed today to ABC News.

Shelly Sterling, who previously shared ownership of the beleaguered NBA franchise with Donald, is now in talks with the NBA over selling the team, the source said.

The NBA banned Donald Sterling for life from all league events after an audio tape became public that recorded him uttering racist comments to his assistant, V. Stiviano. He told her not to post photos of herself with black people on Instagram or bring them to his basketball games.

FULL breaking short story at link.



Read more: http://abcnews.go.com/US/donald-sterling-signs-los-angeles-clippers-wife-shelly/story?id=23843162

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Donald Sterling, left, is pictured with his wife Shelly Sterling, right, at the Beverly Hills Hotel on Feb. 27, 2011 in Beverly Hills, Calif. Chelsea Lauren/Getty Images

[TheBlackAdder]

1. That black eye and lip outliner does wonders :-) nt

[tofuandbeer]

3. +1

[RebelOne]

10. -1

I wear lipliner and black eyeliner also, and I am a blonde. Nothing wrong with her makeup.

[tofuandbeer]

2. Gee, no one saw that coming. :/

[BumRushDaShow]

4. Sisters?

(everytime I see his wife, I think of Brewer)

[alp227]

5. Steven Tyler, but blonde and with makeup?

And glad to hear this team finally will be sold.

[Omaha Steve]

6. That is....

[former9thward]

7. I doubt the story is true as written.

By signing over the team he would be responsible for a gift tax based on a $400 to $500 million gift.

[The Stranger]

8. I don't think transactions between spouses are taxable events.

One of the big huge lawyer/accounting firms already did all of that.

They probably memorized the NBA bylaws and determined that he can simply own it through her as his proxy.

[former9thward]

12. You may be right.

But I find it difficult to believe that ownership of something as large as the Clippers is a simple husband and wife owned enterprise.

[Timez Squarez]

13. Shelly Sterling is listed as the alternate governor of the Clippers

so she does have the right to sell it.

And she wants to keep her 50% share, and sell the other 50% to elsewhere - but if the terms are right, she'll sell it all.

[MADem]

14. I don't think so. I believe this is about who is the "controlling owner" per NBA rules.

The "controlling owner" is the one who has lead, the one who is sanctioned, and the one the NBA can force to do things like 'sell that team.'

He has signed over control to her and she is the "controlling owner" now, is my guess.

She's a spouse, they both "own" the team. No "gift tax." It's community property. I think his kid (kids?) is/are listed on the owner roster as well.

Here: http://www.ktvu.com/news/news/national/reports-sterling-signs-control-clippers-wife/nf6J2/

Reports: Sterling signs over control of Clippers to wife

ESPN is reporting that she, along with her team of lawyers, have been sitting down with the NBA since Adam Silver banned Donald Sterling for life on April 29. The league has not, according to ESPN, made the formal acceptance of the arrangement between the Sterlings.

[SoapBox]

9. It's ok "Don"...

You've still got billions and then you can spew all the shit you want.

What a disgrace he is.

[Arkana]

11. She looks like something that died and decomposed in water.

[truebluegreen]

15. Just out of curiosity,

what do you think he looks like?

[Arkana]

16. Like an onion that's been left out in the sun too long?

They both look like shit--but maybe it's the camera light on her, I don't know.

[Psephos]

17. The coolest thing about old people is how easy it is to make fun of them.

Right?

[840high]

18. The people making fun of

old people will be lucky if they live that long.

[johnp3907]

19. He also looks like he might be carrying a few extra pounds.

He truly IS history's greatest monster!

Just in case:

[Reter]

20. I believe the poster is making fun of old people with extensive plastic surgery

Not old people in general, at least I hope not.

[The Stranger]

22. I thought the poster was making fun of two particuar (and loathesome) old people.

Jiminy Christmas.

[nikto]

21. All pro sports teams should be owned and run by the cities they represent

Screw private ownership, in a number of big areas.

Screw it in energy, water and all war industries too.


Have a nice day.

[abelenkpe]

26. +1 nt

[riderinthestorm]

23. Sherry Sterling doesn't deserve the disgusting ageist bigotry on this thread

She's close to 80 as well. She's been estranged from him for more than 20 years so clearly she is as disgusted with him as the rest of us.

She really doesn't deserve this abuse.

Personally I think it's great a woman NBA owner is getting this much power.

Good luck to her

[olddad56]

24. I would have to agree with your observation of all of the ageist bigotry on this board..

It is pretty pervasive in our society. Look at birthday cards, for example. Apparently, older people are fair game for people to make fun of. It is interesting that in some cultures older people are held in high regard, in this country, they are made fun off.

It is acceptable to make fun of people for growing old, until you become a person growing old, Then you get get to see how it feels.

Growing old takes more courage than people think.

[riderinthestorm]

25. I HATE those cards! I'm the person who turns them over in the rack so they cant be seen

And then maybe they won't be purchased.

My (vain) hope is that if the sales of those mocking cards diminishes then maybe the manufacturers will choose differently in what they publish.

[davidpdx]

27. Sounds like a scam to try to keep the team owned by the family

The NBA needs to oust all of them.