Report: Sterlings want $300 million down payment from winning bidder
Donald and Shelly Sterling are reportedly requiring the winning bidder for the Los Angeles Clippers to hand over a non-refundable, $300 million down payment, according to Bill Simmons of ESPN.
The request is said to be causing some concern with prospective owners, as they fear the sale could be held up by lawsuits between the Sterling family and the NBA. The league is seeking to force the sale of the team through a vote of the Board of Governors.
Earlier on Wednesday it was reported Donald Sterling had changed course from an agreement announced last week to grant his wife the power to oversee the sale of the team.
Just said on Countdown - big issue complicating Clips bid is Sterlings want a 300 million non-refundable down payment for winning bidder.
— Bill Simmons (@BillSimmons) May 28, 2014
PS: prob is bidder could win Clips, then final sale could get held up by lawsuits indefinitely. Nobody wants to lose 300 mill indefinitely. — Bill Simmons (@BillSimmons) May 28, 2014