Los Angeles Clippers

[Paul McGaha]

$2B.

Unbelievable.

I wonder what the New York Yankees are worth these days?

Or the Dallas Cowboys?

PHM

[David Weaver]

I guess it depends on who is buying. If you find guys with $20 billion or more, they can buy things for hobby at hobbyist price.

[Rod Sheridan]

$2B.

Unbelievable.

I wonder what the New York Yankees are worth these days?

Or the Dallas Cowboys?

PHM

No idea Paul, however it does shed some light on the range of disposable income in society...........Rod.

[Paul McGaha]

I was really surprised when I saw the sale price on the news this morning.

Yesterday ESPN predicted the team would sell for around $600M.

Dang that's a lot of money though. I find it kind of shocking.

A great deal of disposable income indeed Rod.

[George Bokros]

Guess it shows how much you can make working for Microsoft.

[Curt Harms]

I've read that Steve Ballmer is now the largest Microsoft share holder. Bill Gates has been quietly selling his shares to fund his foundation and at his recent pace will no longer hold significant Microsoft stock after 2018. I'm pretty sure none of the Microsoft founders will have to worry about missing any meals anytime soon though.

[Phil Thien]

I've read that Steve Ballmer is now the largest Microsoft share holder. Bill Gates has been quietly selling his shares to fund his foundation and at his recent pace will no longer hold significant Microsoft stock after 2018. I'm pretty sure none of the Microsoft founders will have to worry about missing any meals anytime soon though.

While that seems to be true, I wonder how it is Bill Gates is worth $76 billion now?

[Rich Engelhardt]

how it is Bill Gates is worth $76 billion now?
Only about 17% of his worth comes from Microsoft. (Bloomberg)

[Jason Roehl]

I guess it depends on who is buying. If you find guys with $20 billion or more, they can buy things for hobby at hobbyist price.

Don't think for a minute that a sports team gets bought for a hobby. A business challenge, perhaps, but profit is always the goal, even if that profit is not directly from the operations of the team--there's always those prestige and networking factors...

[Greg Peterson]

Don't think for a minute that a sports team gets bought for a hobby. A business challenge, perhaps, but profit is always the goal, even if that profit is not directly from the operations of the team--there's always those prestige and networking factors...

There is a lot of ego involved for sure. From a business point of view, at $2 billion, I'm not sure if Ballmer will live long enough to break even on that investment. That price doesn't even include an arena.

One thing for sure though, is that he just turned the whole professional sports franchise valuation upside down. The Clippers were recently valued at roughly $675 million by Forbes. The valuation for Lakers, Spurs, Heat, Knicks, Rockets and Bulls is likely due for a significant correction.

It's an absurd amount of money. Of course he can spend it however he wishes, but it's still absurd.

[Pat Barry]

There is a lot of ego involved for sure. From a business point of view, at $2 billion, I'm not sure if Ballmer will live long enough to break even on that investment. That price doesn't even include an arena.

One thing for sure though, is that he just turned the whole professional sports franchise valuation upside down. The Clippers were recently valued at roughly $675 million by Forbes. The valuation for Lakers, Spurs, Heat, Knicks, Rockets and Bulls is likely due for a significant correction.

It's an absurd amount of money. Of course he can spend it however he wishes, but it's still absurd.
The good thing is that Oprah didn't get the franchise.

[David Weaver]

Don't think for a minute that a sports team gets bought for a hobby. A business challenge, perhaps, but profit is always the goal, even if that profit is not directly from the operations of the team--there's always those prestige and networking factors...

Of course profit is the goal, but sometimes it seems like the valuation of the team is based on hobby. It's a status symbol to own a team. I can't imagine something more interesting to own than a pro sports team, it's like having your own little hobby kingdom where someone else does the work if you want them to.

[Larry Whitlow]

Hmmm, I have a Clippers #24 World B. Free T-shirt. Maybe I should offer it up to the new owners.

[Paul McGaha]

There is a lot of ego involved for sure. From a business point of view, at $2 billion, I'm not sure if Ballmer will live long enough to break even on that investment. That price doesn't even include an arena.

One thing for sure though, is that he just turned the whole professional sports franchise valuation upside down. The Clippers were recently valued at roughly $675 million by Forbes. The valuation for Lakers, Spurs, Heat, Knicks, Rockets and Bulls is likely due for a significant correction.

It's an absurd amount of money. Of course he can spend it however he wishes, but it's still absurd.

You're so right Greg, It's his money and he can spend it however he wishes.

It's just that from what I read its very unusual for a person that has amassed great wealth like he has, to not be a lot more disciplined about trying to hang on to it.

I must say I've been really impressed with what Bill & Melinda Gates are trying to do with their fortune. Honestly trying to make a difference in the world. Warren Buffet too. If it were me in their position I would hope I had that kind of wisdom.

PHM