At 2:15 PM on Tuesday afternoon, NBA Commissioner Adam Silver took to the podium at NBA headquarters in New York City and announced unprecedented sanctions against Los Angeles Clippers owner Donald Sterling. Effective immediately, Sterling has been banned from life from the NBA, fined $2.5 million (the maximum amount allowed by the NBA’s constitution), and Silver will “immediately” pursue having Sterling’s ownership stake in the Clippers stripped.
As you almost surely know, Sterling came under fire after being recorded making racist comments directed at Magic Johnson and African-Americans in general. This controversy comes as just the latest episode in a troubling history for Sterling, who has previously faced numerous allegations of racist and discriminatory practices both with the Clippers and in his real estate ventures.
The NBA’s decision to absolutely hammer Sterling comes largely as a sigh of relief, with Silver receiving universal praise from both owners and players alike. While this story is far from over, we at least now have a sense of what direction we’re heading in. Here are 5 Things We Learned From the Adam Silver Press Conference.
We have a new standard for punishment in the NBA.
It still isn't clear why nothing happened with Sterling earlier.
Rumors of free agency for all Clippers players seem unfounded.
Donald Sterling will stick to his guns.
We're about to see an unprecedented bidding war.
Donald Sterling may be a horrible human being, but he's about to be (and to a degree already is) a very rich horrible human being. He bought the Clippers in 1981 for $12.5 million, and already the cost of the team is looking to be $1 billion-plus:
Several groups with desire to purchase Clippers are already stepping forward, with a bidding war expected to exceed $1 billion for Clippers.
— Adrian Wojnarowski (@WojYahooNBA) April 29, 2014
Among those groups, Magic Johnson and Guggenheim Partners will be front-and-center in pursuit of the Clippers.
— Adrian Wojnarowski (@WojYahooNBA) April 29, 2014
The bidding war about to ensue will be fascinating. The Clippers are one of the most valuable franchises in a league where all teams are worth a ton. They play in a massive media market and have marketable stars, so right there you've got the foundation for a team that wins and makes a ton of money.
While Magic Johnson may be among the early frontrunners, there will undoubtedly be a massive competition.