Donald Sterling Punished!

[theDoctorisIn]

That's a weird story about his mental state. He didnt appear before a judge. It was a matter spelled out in the family trust and they gave measures of competence and allegedly he flunked them. I dont believe for a second he is mentally incompetent. I think he pulled off a huge coup, selling the team for well over market value and protecting himself from lawsuits.

Or, his estranged wife pulled off a "big coup", and esentially stole the team out from him and sold it.

It's hard to say without knowing more about the situation.

 

[FA_Q2]

So I'm still trying to wrap my head around one thing.



If he (or the trust or whatever) OWNS the team, how could they just "terminate his ownership?" Silly me. I thought if you owned something, you owned that thing. Taking something that someone owns without paying for it is stealing no? How exactly would that work? BAM! "You no longer own the team! The team now belongs to..."

???

Because when you purchase a team you enter into an agreement on some of the specifics of managing that team. Normal ownership certainly would be a problem if the owners could decide that the team wouldn't play certain games or compete with certain teams that they were supposed to. Because of that, the various sports leagues all have contractual agreements that you must enter into to become part of the league or purchase a team. He signed one such contract.

That contract also includes certain moral standards that must be adhered to in order to remain an owner.

He willingly entered that contract and now must deal with the consequences of doing so.

So what would they do with the team if they "terminated" his ownership? I mean would they literally just take this multi-million dollar asset away? Can they really do something like that?

I get that they have to have rules and standards. I know they can impose fines, and I can completely understand how they can ban him from attending any NBA events.

I don't get how they could just take something that was purchased away just by vote because they don't like what someone said.

Sent from my SCH-I545 using Tapatalk

They don't simply take the asset away. What they do is force the sale of it to a new owner, exactly what is happening. They have to approve the new owner but sterling can pick who he wants to sell it to. It does not seem that he is very cooperative though so they will force the sale either way. Sterling still get the proceeds which is why he also 2 billion richer for an asset that he paid less than 100 million for. MASSIVE profit margin.

 

[TheOldSchool]

Sterling could be the con frontrunner for 2016 if he wanted to be

 

[Billo_Really]

The Sterling fallout should be a wake up call to the conservative right that this country has no place for racists in its society.

 

[Remodeling Maidiac]

2 billion? Shit, I'll say anything for that amount. Awww who am I kidding, I'll say anything just to piss of a liberal for free.

 

[Billo_Really]

2 billion? Shit, I'll say anything for that amount. Awww who am I kidding, I'll say anything just to piss of a liberal for free.

Since we're into confessions...

...for enough money and dope, I'm your *****!

 

[Politico]

Good for him. I hope he laughs all the way to the bank.

 

[Mathbud1]

Because when you purchase a team you enter into an agreement on some of the specifics of managing that team. Normal ownership certainly would be a problem if the owners could decide that the team wouldn't play certain games or compete with certain teams that they were supposed to. Because of that, the various sports leagues all have contractual agreements that you must enter into to become part of the league or purchase a team. He signed one such contract.

That contract also includes certain moral standards that must be adhered to in order to remain an owner.

He willingly entered that contract and now must deal with the consequences of doing so.

So what would they do with the team if they "terminated" his ownership? I mean would they literally just take this multi-million dollar asset away? Can they really do something like that?

I get that they have to have rules and standards. I know they can impose fines, and I can completely understand how they can ban him from attending any NBA events.

I don't get how they could just take something that was purchased away just by vote because they don't like what someone said.

Sent from my SCH-I545 using Tapatalk

They don't simply take the asset away. What they do is force the sale of it to a new owner, exactly what is happening. They have to approve the new owner but sterling can pick who he wants to sell it to. It does not seem that he is very cooperative though so they will force the sale either way. Sterling still get the proceeds which is why he also 2 billion richer for an asset that he paid less than 100 million for. MASSIVE profit margin.

My understanding was that they preferred the team be sold, but that they would vote to terminate his ownership if it wasn't. That doesn't sound like they would be forcing the sale.

Sent from my SCH-I545 using Tapatalk

 

[JoeB131]

.

Well, this'll teach him to say what he's actually thinking in private conversations.

And for anyone else to do the same.

.

um, yeah, if you own a business that caters to a certain demographic, it's usually a bad idea to be caught in public denigrating them.

Again, I'm really having a hard time seeing why the Wing Nuts are so upset about this. The Market has spoken. Free Enterprise has spoken.

I mean, if the government had stepped in and tried to take his team from him, you might have an argument. (Even though Sports Franchises are pretty much one of the worst forms of Corporate Welfare).

But in this case, the market complained and got the result it wanted.

 

[Iceweasel]

The latest in a long line of liberal feminist victories over bigoted manpigs everywhere. Today is a great day to be a womyn.

That's signature material right there. A pearl like that doesn't come around every day.

 

[Mac1958]

.

Well, this'll teach him to say what he's actually thinking in private conversations.

And for anyone else to do the same.

.

um, yeah, if you own a business that caters to a certain demographic, it's usually a bad idea to be caught in public denigrating them.

Again, I'm really having a hard time seeing why the Wing Nuts are so upset about this. The Market has spoken. Free Enterprise has spoken.

I mean, if the government had stepped in and tried to take his team from him, you might have an argument. (Even though Sports Franchises are pretty much one of the worst forms of Corporate Welfare).

But in this case, the market complained and got the result it wanted.

Right Joe, like you give a crap about "the market".

You're a real capitalist.



.

 

[JoeB131]

.

Well, this'll teach him to say what he's actually thinking in private conversations.

And for anyone else to do the same.

.

um, yeah, if you own a business that caters to a certain demographic, it's usually a bad idea to be caught in public denigrating them.

Again, I'm really having a hard time seeing why the Wing Nuts are so upset about this. The Market has spoken. Free Enterprise has spoken.

I mean, if the government had stepped in and tried to take his team from him, you might have an argument. (Even though Sports Franchises are pretty much one of the worst forms of Corporate Welfare).

But in this case, the market complained and got the result it wanted.

Right Joe, like you give a crap about "the market".

You're a real capitalist.



.

NO, I don't care about the market, but you guys do.

Frankly, since these sports teams are so heavily subsidized by the taxpayers, I think the taxpayers should have a say in who owns them. Or better, have all the teams be like the Green Bay Packers who are owned by the city of Green Bay.

But here was a case where the customers objected to this guy, and instead of just coming right out and apologizing, he dug himself in deeper with some crazy talk about Magic Johnson and AIDS.

 

[Mac1958]

um, yeah, if you own a business that caters to a certain demographic, it's usually a bad idea to be caught in public denigrating them.

Again, I'm really having a hard time seeing why the Wing Nuts are so upset about this. The Market has spoken. Free Enterprise has spoken.

I mean, if the government had stepped in and tried to take his team from him, you might have an argument. (Even though Sports Franchises are pretty much one of the worst forms of Corporate Welfare).

But in this case, the market complained and got the result it wanted.

Right Joe, like you give a crap about "the market".

You're a real capitalist.



.

NO, I don't care about the market, but you guys do.

Frankly, since these sports teams are so heavily subsidized by the taxpayers, I think the taxpayers should have a say in who owns them. Or better, have all the teams be like the Green Bay Packers who are owned by the city of Green Bay.

But here was a case where the customers objected to this guy, and instead of just coming right out and apologizing, he dug himself in deeper with some crazy talk about Magic Johnson and AIDS.

Well, I appreciate the honesty about not caring about the market.

Just so you know, this was not "the market" or "his customers" reacting. That would have been if they were annoyed enough about his stupid comments that they chose not to attend his games, purchase concessions and/or purchase Clippers gear. His income would have dropped, the value of the franchise would have dropped, and then he'd have to deal with it. He'd possibly be fucked and forced to sell at a significant discount. That's actually the way "markets" work, and I know you're not into that.

No, this was about the current culture in America, which is about forcing and enforcing a specific conformity of thought and finding a way to punish anyone who dares not to conform, even in a private conversation between two adults, one of whom has dementia.

Big difference there.

.

 

[AvgGuyIA]

Sterling was the most hated man in America, with calls to punish him. He was banned. He was fined. He was reviled. Now the ultimate punishment. The Clippers reportedly were worth $800M in first reports on the incident. Today his wife agreed to sell to Steve Ballmer for $2B. That'll show that old racist!
Shelly Sterling agrees to sell Clippers to Ballmer

The latest in a long line of liberal feminist victories over bigoted manpigs everywhere. Today is a great day to be a womyn.

.

Well, this'll teach him to say what he's actually thinking in private conversations.

And for anyone else to do the same.

.

Continue crying us a river, your racist tears are delicious.

Learn how to spell woman

 

[dilloduck]

.

Well, this'll teach him to say what he's actually thinking in private conversations.

And for anyone else to do the same.

.

No doubt---this will stop people from saying anything offensive.

 

[Mac1958]

.

Well, this'll teach him to say what he's actually thinking in private conversations.

And for anyone else to do the same.

.

Continue crying us a river, your racist tears are delicious.

"I do not agree with what you have to say, but I'll defend to the death your right to say it."
Voltaire

I know the party of "inclusion", "diversity" and "open minds" doesn't like the above quote, but I do.

.

 

[LoneLaugher]

.

Well, this'll teach him to say what he's actually thinking in private conversations.

And for anyone else to do the same.

.

Continue crying us a river, your racist tears are delicious.

"I do not agree with what you have to say, but I'll defend to the death your right to say it."
Voltaire

I know the party of "inclusion", "diversity" and "open minds" doesn't like the above quote, but I do.

.

He had the right to say it. Absolutely. Who said otherwise?

 

[JoeB131]

[
Well, I appreciate the honesty about not caring about the market.

Just so you know, this was not "the market" or "his customers" reacting. That would have been if they were annoyed enough about his stupid comments that they chose not to attend his games, purchase concessions and/or purchase Clippers gear. His income would have dropped, the value of the franchise would have dropped, and then he'd have to deal with it. He'd possibly be fucked and forced to sell at a significant discount. That's actually the way "markets" work, and I know you're not into that.

No, this was about the current culture in America, which is about forcing and enforcing a specific conformity of thought and finding a way to punish anyone who dares not to conform, even in a private conversation between two adults, one of whom has dementia.

Big difference there.

.

Uh, guy, you really think that his fellow millionaires who forced him out and then paid him a big bribe weren't concerned about their customers, then you are deluded.

You must think these "forces of political correctness" have this great amount of power, that they can melt minds or something.

Reality check. The fired him because it was good business.

 

[FA_Q2]

Right Joe, like you give a crap about "the market".

You're a real capitalist.



.

NO, I don't care about the market, but you guys do.

Frankly, since these sports teams are so heavily subsidized by the taxpayers, I think the taxpayers should have a say in who owns them. Or better, have all the teams be like the Green Bay Packers who are owned by the city of Green Bay.

But here was a case where the customers objected to this guy, and instead of just coming right out and apologizing, he dug himself in deeper with some crazy talk about Magic Johnson and AIDS.

Well, I appreciate the honesty about not caring about the market.

Just so you know, this was not "the market" or "his customers" reacting. That would have been if they were annoyed enough about his stupid comments that they chose not to attend his games, purchase concessions and/or purchase Clippers gear. His income would have dropped, the value of the franchise would have dropped, and then he'd have to deal with it. He'd possibly be fucked and forced to sell at a significant discount. That's actually the way "markets" work, and I know you're not into that.

No, this was about the current culture in America, which is about forcing and enforcing a specific conformity of thought and finding a way to punish anyone who dares not to conform, even in a private conversation between two adults, one of whom has dementia.

Big difference there.

.

Big difference in that the former, market driven manner he actually losses something. In the latter 'social justice' and public outcry 'punishment' resolution he makes out like a bandit with over a 1000% profit.

Wait....

 

[FA_Q2]

So what would they do with the team if they "terminated" his ownership? I mean would they literally just take this multi-million dollar asset away? Can they really do something like that?

I get that they have to have rules and standards. I know they can impose fines, and I can completely understand how they can ban him from attending any NBA events.

I don't get how they could just take something that was purchased away just by vote because they don't like what someone said.

Sent from my SCH-I545 using Tapatalk

They don't simply take the asset away. What they do is force the sale of it to a new owner, exactly what is happening. They have to approve the new owner but sterling can pick who he wants to sell it to. It does not seem that he is very cooperative though so they will force the sale either way. Sterling still get the proceeds which is why he also 2 billion richer for an asset that he paid less than 100 million for. MASSIVE profit margin.

My understanding was that they preferred the team be sold, but that they would vote to terminate his ownership if it wasn't. That doesn't sound like they would be forcing the sale.

Sent from my SCH-I545 using Tapatalk

Your understand is incorrect. The vote forces the sale. If the vote goes through the board has more control over the sale than if Sterling does it himself. The result is the same though.