Donald Sterling has Alzheimer’s Disease. Donald Sterling has sued the NBA yesterday. The first is a maybe, the second is on the record. Shelly Sterling has signed for the Sterling Family Trust to sell the team to Steve Balmer of Microsoft fame and fortune.
If Donald Sterling has Alzheimer’s Disease he is facing a future filled with challenges and real hardship, some experiences even his vast wealth cannot protect him from. My heart goes out to him and his family for no matter how vile and hurtful a person may be personal illness and real human suffering are not things I wish on anyone.
But the profits here are real and for Sterling come in at about 15,900% http://www.nytimes.com/2014/05/31/upshot/donald-sterlings-remarkable-rate-of-return.html
It is a question of supply and demand coupled with the cash liquidity in the top .1% Without the racism scandal the price was suspected to be $400-$500 million less. We will never know because Steve Balmer is a highly motivated and incredibly wealthy buyer. He is doing the purchase on his sole initiative and not having to justify it to anyone. It becomes a win for the NBA and all team owners–maybe.
Mr.Balmer, while you adjust to the ownership circles in major sports will you pay the fans and the country back by tackling racism in the sports teams names, idenities and logos/mascots? You ahve wanted a team for years and this one came for sale in a way you could never have anticipated–due to horrible racism. If you simply walk into your position without facing this and fully addressing it your wealth will have let you enter circles otherwise closed to you, racism where it is obvious racism is still rampant.
Microsoft, the source of your wealth Mr. Balmer, in the past and most likely still, through stock ownership, reaches everyone. It’s products are used worldwide and the team you now own has a global profile. Use your position to confront the hate, stand down racism and bring some real honor to an ugly situation. Or not. Your call–and please, not on the flip of a coin. Do the right thing, face racism down, just like a winning jumpball.