Master Index of Archived Threads
Donald T. Sterling: Racist, Slumlord, Basketball Team Owner
A Boy Named Seo Apr 27 2014 01:36 PM |
You know when President Obama, is commenting on the behavior of the owner of the LA Clippers, shit's hit the fan and is splattering all over walls, isn't it? The new Commish referenced the power of the NBA Constitution, whatever that is, to deal with Sterling. Whenever the Association confirms whatever they need to confirm, I hope a suspension for the remainder of playoffs is an automatic first, followed by making that arsehole Sell the Team NOW!!!! I don't know if it's possible, but a boy can dream.
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d'Kong76 Apr 27 2014 02:16 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
He needs to be forced out of the league. Not sure how that
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MFS62 Apr 27 2014 02:41 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
His players were going to forfeit their playoff game. That would be a good start, but they have since decided to play.
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d'Kong76 Apr 27 2014 02:45 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
That would be some story, but they are contractually obligated
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Benjamin Grimm Apr 27 2014 03:32 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
The Clippers are in the playoffs???
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A Boy Named Seo Apr 27 2014 03:41 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Yeah, Ben, this Clippers are, like, really good.
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Edgy MD Apr 27 2014 03:56 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Well, I suppose refusing to play would be more productive if the team's opponents refused to play also.
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A Boy Named Seo Apr 27 2014 04:07 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Yeah, agreed. And if that would've happened, it would've been something for other teams to think about, too. If the whole Association during the Playoffs came to a screeching halt because of this, that's one hell of a protest.
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Frayed Knot Apr 27 2014 04:08 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
So I know Sterling's been like a really bad owner for a number of years now, but were there any of these 'bad actor' moments in his past aside from simply not running his franchise very well?
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A Boy Named Seo Apr 27 2014 05:35 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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He's a turd. Made millions in real estate and was sued by the US Dept of Justice for not renting to blacks, Asians, and hispanics in different properties around LA. He settled out of court.
Source: LATimes That lawsuit was thrown out by the court, though. He really is a turd.
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metirish Apr 27 2014 06:26 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Not sure how he can be forced out, the stuff he was saying was just awful , very demeaning , said in such a casual way. There must be a code of conduct for owners?
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Edgy MD Apr 27 2014 09:18 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
The record's been there --- for anybody willing to look. Deadspin and other sources have given a blow-by-blow of this guy's over-the-top history of racist outrages. His own sworn testimony should have been enough for the league to question strongly whether they want to associate with the guy. But who goes looking for that stuff? There's millions to be made, and journalism is dead. Except at TMZ, anyhow.
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Vic Sage Apr 28 2014 09:10 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
If owners could be permanently forced out of their leagues because they were assholes, how many would be left? You could hold a league meeting in an elevator. Yankee history would certainly be different. And why does the media fixate more on stupid stuff people say than stupid stuff people DO? Beat your wife? C'mon in! Illegal drugs? quick suspension, then your back. Shoot somebody? well, we stand by our player. 2nd amendment rights, yadayada.
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Mets – Willets Point Apr 28 2014 09:12 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I haven't been paying much attention to this but when I first heard "sports team owner" and "Sterling" in the same sentence, I thought "uh-oh!"
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Frayed Knot Apr 28 2014 09:22 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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So who should provide the soundtrack to this whole deal: Bob Seger's old band, or Argent?
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MFS62 Apr 28 2014 09:25 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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That was impressive. Later
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Frayed Knot Apr 28 2014 09:39 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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I'll be here all week. Try the veal and don't forget to tip your waitresses.
This seems like one of those deals where all the insiders--not just the league & players, but also those media-types who adopt the 'hoop it up' lifestyle as their chosen image--did know but have suddenly been thrust into the situation of having to express outrage now that the general public has been let in on the "secret".
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A Boy Named Seo Apr 28 2014 10:50 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Apparently CarMax and State Farm have jumped ship as sponsors of the Clippers. I don't see this trend stopping either. To Vic's excellent points, this could give Silver some ammo to show that Sterling can't be regarded as a reliable owner from a financial standpoint...
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Edgy MD Apr 28 2014 01:07 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
By the way, as horribly horrible a job of vetting as the NBA appears to have done (or pretended to have cared to do), how about the job the Los Angeles chapter of the NAACP did (or pretended to have cared to do), considering he was about to receive his second lifetime achievement award?
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A Boy Named Seo Apr 28 2014 01:17 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Yeah, astounding, right? When I first read about that, I thought it was some sort of satirical award.
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A Boy Named Seo Apr 28 2014 01:26 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Now Virgin America, something called Aquahydrate, and KIA Motors (maybe the biggest sponsor of the Clips) have backed out. This is good.
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metirish Apr 28 2014 01:27 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Red Bull too
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Edgy MD Apr 28 2014 01:31 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Irish, would a Euro-football owner be more likely to survive this sort of scandal, do you think, than a US sports team owner?
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metirish Apr 28 2014 01:39 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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great question , racism is rampant throughout European soccer , the Spanish Football Association regularly get accused of doing noting to stamp it out there . i can't think of a case though where an owner was caught saying such things. I imagine it would vary from country to country weather the owner would survive, it might for instance be more acceptable to say something like that in Russia than say England.
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batmagadanleadoff Apr 28 2014 01:56 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
What can they do? They couldn't take the Reds from Marge Schott. They can't, or won't get Dan Snyder to change the name of his team. (Though, admittedly, I don't know how badly the NFL powers want Snyder to change the team name either, lip service notwithstanding). Sterling's entitled to his views.
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d'Kong76 Apr 28 2014 02:04 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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She was banned from baseball.
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batmagadanleadoff Apr 28 2014 02:40 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Temporarily suspended. Not banned.
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Edgy MD Apr 28 2014 03:04 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Under investigation for infractions that would have led to her third suspension, she was ultimately forced to divest under duress and threats from both the league and from her minority partners. Whether that counts as a lifetime ban or not seems to be a semantic point. I guess it's somewhat analogous to a no-contest plea.
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themetfairy Apr 28 2014 03:14 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I like the concept that Sterling might be forced to sell the team if he loses enough corporate sponsors. Let the market forces get rid of him organically.
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Edgy MD Apr 28 2014 04:09 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Matt Kemp's walkup song: "If you're thinking 'bout my baby, doesn't matter if you're black or white."
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d'Kong76 Apr 28 2014 04:48 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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From Wiki: She was banned from managing the team by the MLB from 1996 through 1998 due to statements in support of German domestic policies of Nazi party leader Adolf Hitler; shortly afterwards, she sold the majority of her share in the team. Banned is banned, he just needs to be contrary as much as possible. As for the right to having his views, I call bullshit. He's a public figure and public figures who want to remain so can't go around spewing racist remarks. Walk into your office tomorrow and call someone a nigger and then defend yourself by saying you're entitled to your views and see how far that gets you.
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batmagadanleadoff Apr 28 2014 05:08 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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I initially posted that MLB couldn't take the Reds from Schott. Your follow up "banned" post was intended to poke some hole in my post -- which you'll deny. You can play all the word games you want with "banned" and "suspended", but your post is just a premise, and probably has little to do with Schott, Sterling or racism. And for the record, I wouldn't spew racist comments because I find them to be offensive, repugnant and against my character. But that's not my point. Sterling probably has a constitutional right to his views, public figure or not. He may face powerful consequences from public forces for expressing his views, but I'm not sure that the NBA can take away his franchise. Just like MLB couldn't take the Reds from Schott. But you can continue to contort yourself trying to bust my balls here.
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d'Kong76 Apr 28 2014 05:11 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Don't tell me what I mean and what I intend. I had a lot of
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batmagadanleadoff Apr 28 2014 05:16 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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You don't know what the hell you're talking about. Being repulsed by Sterling's (or Schott's) views and upholding the Constitution aren't mutually exclusive. You'd probably ban flag burning, too. And I'll tell you what I think you mean whenever I feel like it, especially when your post is directed at me. You think that you have plausible deniability because I can't read your mind? If you don't want your posts analyzed, don't post them in the first place. You wouldn't of responded anyway, if anyone else but me was the poster.
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Frayed Knot Apr 28 2014 05:33 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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The phrase "Banned from managing" in this case probably means banned from being the "general partner", i.e.. the person designated by the club to be the point person for conducting the team's business. This is the same punishment doled out to Steinbrenner later on and could certainly happen to Sterling on account of all this but it's not the same thing as being able to force him to sell. MLB and the other owners certainly pressured Marge to sell the Reds although if she wanted to dig in and refuse it's questionable whether MLB would have been able to legally force her to and I don't believe the commish's office in the NBA is as strong as the one in MLB. That Adam Silver has been in office for about 20 minutes as this scandal breaks probably doesn't help.
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d'Kong76 Apr 28 2014 05:34 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
USA Today: The NBA will hold a 2 p.m. ET news conference Tuesday in New York
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Nymr83 Apr 28 2014 09:14 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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You are entitled to say it and your boss is entitled to fire you. If you ARE the boss, your employees are entitled to quit and your customers are entitled to take their business elsewhere, effectively "firing" you. "public figure" doesnt mean shit. if someone were an elected or appointed official of the government (at any level) that would be different.
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d'Kong76 Apr 29 2014 02:57 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
The "shit" is no one would care.
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seawolf17 Apr 29 2014 07:16 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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This. The government can't do anything, but private enterprise (read: NBA) sure as hell can.
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metsmarathon Apr 29 2014 07:41 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
since donald sterling isn't being arrested for expressing his racist views, his constitutional right to express those views isn't being violated.
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Nymr83 Apr 29 2014 07:41 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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I hope he continues to lose sponsors and realizes that he should sell the team, which will be worth more to someone else than it is to him if business partners continue to leave him.
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Edgy MD Apr 29 2014 12:25 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Fined $2.5 million and banned for life.
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A Boy Named Seo Apr 29 2014 12:28 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
The Commish has got a huge set of brass ones, I love it.
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Frayed Knot Apr 29 2014 12:37 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Not quite sure what "Banned for life"* means, but OK.
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MFS62 Apr 29 2014 12:38 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Does that mean he has to sell, or still own the club and turn management over to someone else? Later
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A Boy Named Seo Apr 29 2014 01:00 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Silver made it sound like he's already lined up the backing of the other owners, which is required for the Association to force him to sell. Why do I have a feeling someone on FOX Business is gonna say something really dumb within the next 24 hours?
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themetfairy Apr 29 2014 01:02 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Your Spidey Senses should have that feeling every day.
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Edgy MD Apr 29 2014 01:09 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Look at that bunch of segregated swells. I can see ABN Seo isn't allowed to bring black guys to the game either.
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Frayed Knot Apr 29 2014 01:12 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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The banning means can't attend games, practices, or be involved in decisions affecting the club. It also bans him from league meetings, activities, etc. But, no, by itself this action does not mean he has to sell.
He probably does* but forcing someone to sell because of essentially words said in private and (probably) illegally recorded and distributed is a sticky legal situation and simply getting the 3/4th vote of the other owners to agree with it is not the same as making it stick. * although he specifically denied that he had polled the owners other than "speaking to a few" -- but I'd expect him to say that even if he had
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Edgy MD Apr 29 2014 01:18 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
The sad part to me is that this appears to spring from his racial/sexual insecurity. He seemingly doesn't want his girlfriend around younger/blacker/athletic dudes because people would assume that she's their sexmate and not his, which would totally show him up.
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Vic Sage Apr 29 2014 01:19 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
A "lifetime ban" does not suggest to me that he has to sell the team, or even a portion of his ownership interest. Presumably, he will not be permitted to attend any team or league activities (including games), or have any management or advisory role in the running of the team. But the fact that he's banned doesn't necessarily mean his wife is banned; I would assume she can fill whatever management role Dandy Don had, since she has not been banned for anything.
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batmagadanleadoff Apr 29 2014 01:30 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
it looks like Sterling's girlfriend "got him back". Hell hath no fury ....
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Ashie62 Apr 29 2014 04:40 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
What a mess...
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LeiterWagnerFasterStrongr Apr 29 2014 06:30 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Oddly, though, he seems fine with her actually being their sexmate. He just doesn't, y'know, want to get phone calls.
THIS. A million times. I'll never get over the fact that, again and again and again, saying something stupid and ugly generally gets farmore people outraged than doing something willfully pernicious that has far-reaching, profound effects on the lives of many.
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Frayed Knot Apr 29 2014 07:48 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
The problem with that rental discrimination suit is that the case was settled (for him paying some large sum of money) but without any admission of guilt on his part, thus making it harder for the league to take action because of it.
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Nymr83 Apr 29 2014 08:15 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Yes, there is really no comparison between his previous actions and this one. But Silver wants to be the new sheriff in town and doesnt care that Stern didnt act on those things.
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Edgy MD Apr 30 2014 06:32 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Well, the difference, I would guess, is that he hit the players where they live.
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cooby Apr 30 2014 08:09 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
What was this PYT doing with him in the first place? Ew
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TransMonk Apr 30 2014 08:24 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Spending his money, I'd guess.
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Nymr83 Apr 30 2014 09:49 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I wonder what dirt Sterling has on the NBA and what he can prove? Fixed drafts? Jordan gambling suspension? This could be a conspiracy theorists dream!
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Vic Sage Apr 30 2014 10:27 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I don't think Sterling needs any dirt; he has the bylaws of the league. From what i've seen online, under the terms of Paragraph 13 of their constitution, the owners can terminate another owner's franchise with a vote of three-fourths of the NBA Board of Governors, which is composed of all 30 owners (well 29, now that they've banned Sterling for life). The power to terminate is limited to things like "gambling", and "fraud" in the application for ownership, but it also includes a provision for termination when an owner "fails to fulfill" a "contractual obligation" in "such a way as to affect the [NBA] or its members adversely."
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Edgy MD Apr 30 2014 10:56 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I would think that to "terminate" his franchise would be to withdraw his license to operate within the NBA. His organization's assets otherwise remain his.
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Frayed Knot Apr 30 2014 10:59 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I guess the implication that Sterling has some dirt on the NBA stems from the lack of pushback against him up until now despite several instances in his past that were, rightly pointed out here and elsewhere, worse than this one. Hell, just a year or so back, David Stern (stewarding a trade for the then league-owned Hornets/Pelicans) intervened to squelch a deal that would have helped the Lakers and re-rigged it to one where the Clippers would up with Chris Paul and an improved team. But I don't think it's a case of dirt. The "crime" this time was simply more direct and more accessible to the average fan and player than was some settled-out-of-court w/no admission of guilt stuff (and, remember, Elgin Baylor lost his suit v Sterling) that few new about and even fewer remember.
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batmagadanleadoff Apr 30 2014 03:44 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Why can't someone record eff 'n Jeff making racist comments?
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Edgy MD Apr 30 2014 07:22 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I imagine someone could.
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Nymr83 Apr 30 2014 07:54 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Even better, unlike in California, you only need one party's consent to record a conversation in New York. So if anyone e very meets a Wilpon, hit "record" on your cell phone, you never know!
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Frayed Knot May 01 2014 06:21 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Ironically, the NYM owner who was caught making ethnic slurs* is the one some NYM fans are pining for today.
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Edgy MD May 01 2014 08:12 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Patzachry!
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Vic Sage May 01 2014 08:15 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
there are fans pining for Doubleday? i mean, i get the Wilpon hate, i even indulge in it, but pining for Doubleday? really?
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Benjamin Grimm May 01 2014 08:29 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
There's probably more pining for Mark Cuban than for Doubleday. I think the only thing Doubleday has going for him is that he's not despised.
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Ceetar May 01 2014 08:40 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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The general narrative is that Doubleday was some sort of balancing force and 'real fan' and it all went downhill when the Wilpons bought him out. It's really just a way to try to explain away any success the Mets have had while the Wilpons owned the team by crediting it to someone else.
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Edgy MD May 01 2014 09:00 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Oh, yes. They're re-writing history like bandits out there. This Sterling story is really pissing in soup of their "Worst Owners in All of Sports!!" agenda.
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Frayed Knot May 01 2014 09:05 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Anecdotally at least, yes, including here a couple of times. The longer things go badly under the 'pons it becomes easier to invoke revisionist history and declare how everything would have been much better had ND bought out FW instead of the other way around. The Piazza trade and a few other (usually speculative IMO) moves or non-moves are cited as proof of Doubleday's supposed wisdom, and some even claim that ND was the truer baseball fan at heart. That last part contradicts everything I ever heard but that doesn't stop people from latching onto it.
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Vic Sage May 01 2014 09:23 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
they may simply be romanticizing the name "doubleday"; but his casual white-shoe country-club anti-semitism (wow, 3 hyphenated words in a row!) has been public knowledge for 30 years at least. I get that frustration with the `Pons causes fans to look elsewhere for a better era, but backwards is not usually the best place to look, and blinders never help either.
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Nymr83 May 02 2014 07:36 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Sterling apparently has cancer according to sportscenter
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RealityChuck May 02 2014 10:01 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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And all reports at the time said that it was Doubleday who pushed to get Piazza; Wilpon wanted to pass. (The two were equal partners at the time.) I don't think bringing Doubleday back would make any difference now, but he turned the team into a World Series champion from next to nothing.
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Edgy MD May 02 2014 10:11 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
There you go.
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Frayed Knot May 29 2014 06:51 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
ex-Microsoft CEO Steve Ballmer to buy the Clippers for ... $2 Billion
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A Boy Named Seo May 29 2014 09:45 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Yay.
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metsmarathon May 30 2014 07:20 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
wow. it pays to be a racist fuckbag.
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Frayed Knot May 30 2014 07:39 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
One wonders what the price would have been if this team were just being sold without any surrounding controversy. You'd think that an octogenarian owner suddenly finding himself in a position of being forced to sell would drive the price downward a bit instead of selling for nearly four times the price of any previous franchise. And while this is LA as compared to the previous record sale which was the barely on anyone's radar screen Milwaukee Bucks, the price tag begs the question that if that city's second-tier team and perennial laughing stock (only partly because of the owner) is snapped up in about a week for $2 Billion with a B during a not-great economy, what the heck are other teams even before getting into the likes of the Cowboys & Yankees.
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Edgy MD May 30 2014 07:58 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I suspect there's more going on here than we know --- perhaps that Sterling was promised an insane sum in exchange for agreeing to abide by a questionable ruling without filing a lawsuit; perhaps that the league, the owners, and/or affiliated financial institutions (and throw in Hollywood, the gummint, and others, if you want to get kooky) opened up back-door lines of credit to the new owners in order to make the purchase worthwhile, and guarantee minority partners.
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Ceetar May 30 2014 08:02 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Lakers finished last, Clippers finished first. Kobe is getting older.
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Benjamin Grimm May 30 2014 08:06 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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From your lips to Fred Wilpon's ears!
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John Cougar Lunchbucket May 30 2014 08:11 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Really, man.
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Frayed Knot May 30 2014 08:16 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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That was (at least partially) my point. Many of these owners essentially forego year to year profits knowing that they'll be able to cash in when they sell for a decent sized chunk more than their original purchase price. (they don't like having to dip into their pockets to keep the thing afloat in the interim -- Saul Katz -- but as long as things are at least breaking even ...) But I think this selling price for what has been one of the poor sisters of a league which seems to go up and down in popularity based, more than any other, on the Q-Factor of a handful of players, might make a bunch of owners sit up and wonder if this might not be their time to cash in too. Now the Wilpons seem intent on making theirs a multi-generational operation, something which may or may not work, so they maybe don't see this situation applying to them, but yaneverknow.
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Frayed Knot May 30 2014 08:23 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Arranged lines of credit? Promises to Sterling in exchange for 'Fuck Off' money? --- Yeah maybe, but it still takes someone in the private sector to say; 'Yeah I think this franchise is worth X and I'm going to put up my money to back that up.
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Edgy MD May 30 2014 08:24 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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I don't pretend to know either, but I think it's a question of giving them five billion in cash vs. five billion in the form of a rare, hard-to-acquire, rapidly appreciating asset protected by a legal monopoly. That's not chopped liver either. They can always sell in their own time. And of course, the team will be worth more to the Wilpons when it's more paid off. They own outright, what? Thirty percent of the team? Presumably your dollars mature faster when invested in the team than when sitting in the bank (but not as fast as they did when invested with Uncle Bernie).
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Ceetar May 30 2014 08:31 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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Yes but my point is the Lakers are the ceiling for the Clippers. With a little investment/staying the course/whatever you do in the NBA, the Clippers could easily be what the Lakers were a couple of years ago. Even Yankees fans don't buy tickets cause the team was good 5, 10, 40 years ago. Fans are at least 95% bandwagoners.
Would it though? The pay-off would be factored into the buyout. And buying out a loan now is always better than paying it off long term right? And this is why no one is going to force the Wilpons to default on those loans. They know they have them over a barrel and know they have earning potential that will continue to get them money, and interest. Lots and lots of interest because of the debt level and bond ratings and all that. A buyout would lose those banks a ton of money.
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Vic Sage May 30 2014 08:50 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
i heard a sports economist interviewed on the radio, saying that, if not for the circumstances, he would've estimated the Clippers selling price to have been around $900m, and that this price is an outlier created by the circumstances. I have no idea whether its true or not, but that's what i heard.
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Ceetar May 30 2014 08:54 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
There's definitely something to the 'exclusive club' business.
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John Cougar Lunchbucket May 30 2014 08:56 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I agree with Vic's point regarding the "white knight" biz.
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Edgy MD May 30 2014 09:02 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Yeah, what Vic said is what I meant to hint at in my second paragraph above.
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Frayed Knot May 30 2014 09:45 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Darren Ravell (sp?)--a sports-business guy who's often the go-to interview for situations such as this and quite possibly the one Vic heard quoted--says that there's no way Ballmer can make money with this purchase price and that it is just a matter of him having a toy and looking good while doing so.
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A Boy Named Seo May 30 2014 09:47 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Exclusive club, yes, but the NBA and NHL are even more desirable ownership opportunities for salary cap reasons.. Add in the huge LA market with a team that's already one of the 5 best in the league? All the better. $2B is a shit-ton of money, but Ballmer could certainly flip em for a profit in 10 years.
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Edgy MD May 30 2014 09:49 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
I think Rovell's got a pretty sketchy track record.
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Ceetar May 30 2014 11:13 AM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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yeah. And he's the guy that got offended some kid insulted him on twitter so tracked down that kids professor or teacher or something and tattled.
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LeiterWagnerFasterStrongr May 30 2014 04:38 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
If you're looking to turn a profit, you buy dry cleaners, or self-storage joints. You don't buy a sports team in the nation's entertainment capital.
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Frayed Knot May 30 2014 04:54 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
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But the true value of a franchise shouldn't rocket up and down based solely on their current roster, or their current standings, or even on a several year up/down trend, and the Clippers would have to rack up a helluva lot of winning seasons while loaded with marquee talent before they could even begin to see the level where the Lakers have been for decades now. There's simply not the built-in goodwill factor. One would think that smart money men would know this and not overspend just for the recent uptick but nothing about this sale--not the speed, not the amount, and certainly not the reason for it coming about in the first place--is normal here. And, btw, Sterling is now planning on suing the NBA over this whole mess for ... One Billion Dollars!!
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Edgy MD May 30 2014 06:22 PM Re: Donald T. Sterling: Racist, Slumlord, Basketball Team Ow |
Yeah, so much for the notion that the price was inflated to keep him from suing.
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