to sell the team for $2 billion to former microsoft ceo steve ballmer. alexandra steel joins us. blockbuster number. apparently worth it to steve ballmer and outbid the closest competitor by $4 million. a lot of people estimating the team would sell between $700 million and it took a lot of people by surprise and have the other nba team owners taking notice. a $2 billion bid for a basketball team smashes records, but what is steve ballmer the former microsoft mogul getting for all that money? a team better on the court today than the los angeles lakers with a great lease at the staples center and a new upside television deal that he is about to negotiate in los angeles. reporter: future tv deals both local and national could bring in close to an extra $100
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million a year by some estimates, which is a lot, but not the big picture. in the first few years, profits are going to be very minimal. this isn t something he s buying because he wants to make money. this is someone who is going to take 10% of their net worth and they re going to buy a sports team in l.a., which is going to give them a lot of prestige. reporter: for $2 billion, there is plenty of prestige, a way for the wealthy to diversify investments and with a salary cap in place, nba owners can be protected from dipping into their own pockets. steve ballmer knows that if he runs this team somewhat prudently, he is not going to have to put any capital into the team. if you have $20 billion, it s not a bad thing. reporter: in january forbes list of nba team value ranked the clippers 13th with an estimated worth of $575 million. their potential sale price was estimated at around $1 billion once donald sterling s racist
shelly sterling has a deal to sell the team for $2 billion. the most ever paid for an nba franchise. number 5, a 19-month-old toddler in critical condition now after being severely burned by a grenade. they were trying to catch a suspected drug dealer when they threw the device into a north georgia home earlier this week. now, according to the child s family the grenade landed in the boy s bed and exploded on his pillow. police say they were not aware a child was in the home at the time of the raid. well, it is day one of the search for the next head of the department of veterans affairs. president obama accepted va chief resignation yesterday. he left after delays in medical care for veterans with a lot of democrats veterans groups asking him to step down. we want to bring in ben ferguson and robert zimmerman. thank you, both, for being with
humanly possible. reporter: the $2 billion price tag could help send the values of some of the league s most valuable franchises soaring. i don t think you ll be able to buy a big market nba team for less than $3 billion. and it is worth pointing out here that donald sterling bought the clippers for $12 million back in 1981. given this sale agreement to steve ballmer, the nba said it cancelled the june 3rd meeting during which the other nba owners would have voted to try and force donald sterling to sell the team, but there will still have to be a vote. the other owners will still have to approve this sale and christi and victor, analysts say at the $2 billion price tag, should be added incentive to try to rush the sale through. all righty. alexandra field. thank you so much. after eweeks of criticisms and a drum beat for him to resign. eric shin sek hey done just