Donald Sterling sues NBA,wife,Adam Silver and LAC basketball club for damages

[True Lakers Fan]

I don't think they ever said how long and under what circumstances she absolved the NBA of lawsuits under though. It could be for life or it could be contingent on Balmer sale. That would mean if he pulls out of the deal she no longer absolves the league. Money is not the issue anyway in this fight. It's more about the principal of it.

Then Stirling is an idiot because the team is being purchased at 12 times it's value and he is placing other debts at risk to keep it which proves he is no longer mentally competent. He needs to give it up and move on.

 

[True Lakers Fan]

Nah she would still have the right to make that deal with the league independent of the trust, and I want to say she made it prior to him revoking it anyway. Revoking the trust simply means she would not have the authority to sale the team.

I'm not sure what it would do to her agreement to absolve the league of legal fee's though with the trust. She made the deal prior to him revoking it, but she now lacks any control over it.

It means that everything up to and including the sale of the team is her responsibility legally and financially, now what it would not do is absolve the NBA from the future litigation involved in removing the team from him. That's mute point though because the experts say he is fighting a losing battle and he is about to sink

 

[Kinzu]

Then Stirling is an idiot because the team is being purchased at 12 times it's value and he is placing other debts at risk to keep it which proves he is no longer mentally competent. He needs to give it up and move on.

But he was mentally component enough to be held responsible for his rant on the tape?

I don't disagree though that he should sale the team for 2.1B That is a crazy amount of money and he should be thrilled his 2nd rate L.A. team fetched that record price.

 

[RegentDenali]

Oh it gets better.........

LOS ANGELES -- The chief financial officer of Donald Sterling's properties said Monday that the billionaire may be forced to sell a large portion of his real estate empire to cover $500 million in loans if he persists in refusing to sell the Los Angeles Clippers for $2 billion.

Darren Schield, who oversees the finances of The Sterling Family Trust, testified Monday that three banks are ready to recall their loans to Sterling because of his decision to dissolve the trust. His move was designed to rescind his signed agreement for the sale of the Clippers, a team he bought for $12 million.

Schield said if Sterling has to dump $500 million worth of apartment buildings he could destabilize the Los Angeles real estate market.

Sterling attorney Maxwell Blecher suggested that Sterling could take the company public in order to raise funds.

But Shelly Sterling's lawyer, Pierce O'Donnell, asked if it would be easy to go public "with Donald Sterling's reputation."

Schield responded: "There's huge reputation issues. I don't know if anyone would want to go into partnership with him."

 

[True Lakers Fan]

But he was mentally component enough to be held responsible for his rant on the tape?

I don't disagree though that he should sale the team for 2.1B That is a crazy amount of money and he should be thrilled his 2nd rate L.A. team fetched that record price.

I seriously doubt it, but here is the thing about being mentally incompetent. He is not mentally capable to make sound business decisions which are seriously more complicated than a very simple rant in which he expresses his racism. That same racism by the way is something that most people knew, but there wasn't enough proof to make him go away sooner. In short, it doesn't take mental competence to admit you hate an entire race, but it does when you make decisions about the lives of people that you hate

 

[xpuctaqpGT]

I think I heard somewhere that both the players and the coach of the Clippers are likely to boycott next season if he's still the owner. Hard to have a team with neither players nor coach.

 

[True Lakers Fan]

I think I heard somewhere that both the players and the coach of the Clippers are likely to boycott next season if he's still the owner. Hard to have a team with neither players nor coach.

Lebron has already stated that they NBPA will wait and let nature take it's course through the courts, but that they will strike before letting the others continue to play for Donald Sterling