Ballmer Paying Too Much For Clippers, But Sterling Wants More

Former Microsoft Corporation (NASDAQ:MSFT) executive Steve Ballmer is over paying for ownership of the Los Angeles Clippers basketball team to a historic level, a bid book complied by financial experts suggests. Ballmer’s $4 billion bid for Clippers Ballmer’s $2 billion bid is nearly double where sports financial experts had valued the team. According to a preliminary draft of valuation considerations produced by Bank of America Merrill Lynch the fair value for the Clippers is close to $1 billion to $1.3 billion, or double the $550 million sale price set by the Milwaukee Bucks, who set a league record for price relative to…