Report: Shelly Sterling to 'essentially run' $200M charitable foundation through Clippers
Shelly Sterling -- the wife of longtime Clippers owner Donald Sterling -- will essentially run a $200 million charitable foundation through the Los Angeles franchise, according to a report from the Associated Press
The deal is part of a clause in the contract that soon-to-be Clippers owner Steve Ballmer signed when he purchased the team for approximately $2 billion. It will allow the team to spin-off approximately 10 percent of the sale to create the foundation. The NBA is working on finalizing the deal. Shelly and Ballmer would co-chair the charity.
According to the report, the foundation would "target underprivileged families, battered women, minorities and inner city youths." As one individual close to the situation said in the report, "to benefit those on the receiving end of Donald’s rather abhorrent remarks."
Shelly would not own any part of the Clippers franchise, nor would any other member of the Sterling family.