Report: Donald Sterling Agrees to Give Up the L.A. Clippers

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  • brassmonkey
    Pay It Forward
    • Sep 2005
    • 77396

    #1

    Report: Donald Sterling Agrees to Give Up the L.A. Clippers



    The Donald Sterling disaster may actually be coming to a close much sooner than anyone expected. TMZ reports that Sterling has given full control of the Los Angeles Clippers to his estranged wife, Shelly, so that she can negotiate the sale of the team with the NBA. ESPN Los Angeles's Ramona Shelburne and ABC News in Los Angeles also report that the Sterling has agreed to sign the team over to his wife, in order facilitate a voluntary sale.

    According to ESPN's sources, Shelly Sterling has been in talks with the NBA for some time. If her camp successfully negotiates the sale, it would stop the legal battle the NBA is gearing up for, in its tracks. It is unclear how this will affect the upcoming owners vote to remove Sterling as owner of the team, if he agrees to sell willingly. A NBA hearing on the matter is scheduled for June 3.

    full article...
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  • geedub
    Confirmed User
    • Jun 2005
    • 3489

    #2
    You happy now?
    Reliable web host that actually cares, tell em geedub sent ya. Vacares

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    • brassmonkey
      Pay It Forward
      • Sep 2005
      • 77396

      #3
      Originally posted by geedub
      You happy now?
      if he would let me buy them for $50,000 yes!
      TRUMP 2026 KEKAW!!! - The Laken Riley Act Is Law!
      DACA ENDED - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

      Comment

      • AllAboutCams
        Femcams.com
        • Jul 2011
        • 12234

        #4
        No freedom of speech in america now?
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        Comment

        • ~Ray
          visit hardlinks.org
          • Jun 2003
          • 18361

          #5
          at the end of every freedom lies a law. what law did he break?
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          Comment

          • dyna mo
            just a fucking jerk
            • Dec 2008
            • 68184

            #6
            pfft. I hope all the anti-racist racists are happy that an illicitly taped private phone call will cost the man a few $100 million in taxes to sell the team. That's quite the penalty for being a racist in your private life.

            Comment

            • brassmonkey
              Pay It Forward
              • Sep 2005
              • 77396

              #7
              Originally posted by AllAboutCams
              No freedom of speech in america now?
              the nba is not part of the government! the nba has rules for franchisees! dont follow you are done! for him to say such things with most of the team being black is beyond me. that middle eastern shit he talked he should be executed
              TRUMP 2026 KEKAW!!! - The Laken Riley Act Is Law!
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              Comment

              • brassmonkey
                Pay It Forward
                • Sep 2005
                • 77396

                #8
                Originally posted by ~Ray
                at the end of every freedom lies a law. what law did he break?
                rules within the franchise! could you imagine if he said dont bring indians or mexicans? it would be much worse everyone should be able to attend. well im taking time off. racist will always try to find some kind of angle. just remember this guy refused to rent apartments based on race. later gfy see you next month.
                Last edited by brassmonkey; 05-23-2014, 08:36 AM.
                TRUMP 2026 KEKAW!!! - The Laken Riley Act Is Law!
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                Comment

                • adultchatpay
                  Let's Make Money
                  • Dec 2008
                  • 8785

                  #9
                  I hope they record all owners conversation and they will end up like Sterling.

                  Comment

                  • dyna mo
                    just a fucking jerk
                    • Dec 2008
                    • 68184

                    #10
                    I wonder if there's anything within the rules that states if an owner makes racist comments in private that are illicitly recording by his scheming scuzzy gf, he must sell the team.

                    Comment

                    • brassmonkey
                      Pay It Forward
                      • Sep 2005
                      • 77396

                      #11
                      Originally posted by dyna mo
                      I wonder if there's anything within the rules that states if an owner makes racist comments in private that are illicitly recording by his scheming scuzzy gf, he must sell the team.
                      it was the instruction that fucked him over. guess you can't understand.
                      TRUMP 2026 KEKAW!!! - The Laken Riley Act Is Law!
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                      Comment

                      • dyna mo
                        just a fucking jerk
                        • Dec 2008
                        • 68184

                        #12
                        Originally posted by brassmonkey
                        it was the instruction that fucked him over. guess you can't understand.
                        why make it about me? I can do that too, it's a no-brainer, here, watch, I'll make it about you.

                        That chip on your shoulder clouds your view of reality, else you could see the hypocrisy in the league letting the players dictate what happens.

                        Comment

                        • Tom_PM
                          Porn Meister
                          • Feb 2005
                          • 16443

                          #13
                          What the fuck does any LAW have to do with being an old racist asshole? wtf is going on in this place lately.

                          He's a RETARD, not a law breaker. Happy now? lmfao
                          43-922-863 Shut up and play your guitar.

                          Comment

                          • Just Alex
                            Liv Benson to You, Bitch
                            • Aug 2007
                            • 6060

                            #14
                            Yes, we finally won !

                            Comment

                            • sandman!
                              Icq: 14420613
                              • Mar 2001
                              • 15431

                              #15
                              he will make a nice profit from the sale
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                              Comment

                              • Just Alex
                                Liv Benson to You, Bitch
                                • Aug 2007
                                • 6060

                                #16
                                Originally posted by sandman!
                                he will make a nice profit from the sale
                                And pay close to $300 million capital gain tax

                                Comment

                                • Just Alex
                                  Liv Benson to You, Bitch
                                  • Aug 2007
                                  • 6060

                                  #17
                                  Originally posted by dyna mo
                                  why make it about me? I can do that too, it's a no-brainer, here, watch, I'll make it about you.

                                  That chip on your shoulder clouds your view of reality, else you could see the hypocrisy in the league letting the players dictate what happens.
                                  You is being rasis, he say. Better watch your back now dogg.

                                  Comment

                                  • brassmonkey
                                    Pay It Forward
                                    • Sep 2005
                                    • 77396

                                    #18
                                    Originally posted by sandman!
                                    he will make a nice profit from the sale
                                    its worth it! he will never step foot in there again! maybe his ghost will


                                    Originally posted by Tom_PM
                                    What the fuck does any LAW have to do with being an old racist asshole? wtf is going on in this place lately.

                                    He's a RETARD, not a law breaker. Happy now? lmfao
                                    they are trying to make it ok for him refusing service to certain people. ok i better get going later.
                                    TRUMP 2026 KEKAW!!! - The Laken Riley Act Is Law!
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                                    Comment

                                    • L-Pink
                                      working on my tan
                                      • Mar 2005
                                      • 39151

                                      #19
                                      Un-fucking-believable !

                                      Here you have a guy who's employees are 75% black, who told his Black and Mexican girlfriend he doesn't care if she fucks Black guys and he's losing his business for hurting feelings over a private conversation which has labeling him a racist.

                                      .

                                      Comment

                                      • NALEM
                                        Confirmed User
                                        • Nov 2010
                                        • 3163

                                        #20
                                        Originally posted by AllAboutCams
                                        No freedom of speech in america now?
                                        Sad but very true.

                                        Originally posted by ~Ray
                                        at the end of every freedom lies a law. what law did he break?
                                        Exactly.

                                        Originally posted by dyna mo
                                        pfft. I hope all the anti-racist racists are happy that an illicitly taped private phone call will cost the man a few $100 million in taxes to sell the team. That's quite the penalty for being a racist in your private life.
                                        Likely no penalty but he will need to reinvest the capital gained.

                                        Originally posted by adultchatpay
                                        I hope they record all owners conversation and they will end up like Sterling.
                                        That means most leagues are up for sale.

                                        Originally posted by Just Alex
                                        And pay close to $300 million capital gain tax
                                        Courtesy of the Tax Accountant ...

                                        Tax Code -Section 1033

                                        Special tax treatment for people whose property has been stolen, appropriated by the government (i.e. eminent domain), or ?involuntarily converted.? Keyword is involuntarily.

                                        Keeping it simple, the approach is that if you have received money because someone took your "property" or "assets" away from you, you should not have to pay taxes on it, since you did not enter into the transaction voluntarily.
                                        "The time men spend in trying to impress others they could spend in doing the things by which others would be impressed."

                                        Comment

                                        • dyna mo
                                          just a fucking jerk
                                          • Dec 2008
                                          • 68184

                                          #21
                                          Originally posted by NALEM
                                          Sad but very true.



                                          Exactly.



                                          Likely no penalty but he will need to reinvest the capital gained.



                                          That means most leagues are up for sale.



                                          Courtesy of the Tax Accountant ...

                                          Tax Code -Section 1033

                                          Special tax treatment for people whose property has been stolen, appropriated by the government (i.e. eminent domain), or “involuntarily converted.” Keyword is involuntarily.

                                          Keeping it simple, the approach is that if you have received money because someone took your "property" or "assets" away from you, you should not have to pay taxes on it, since you did not enter into the transaction voluntarily.
                                          not according to the tax expert who wrote the article I read about it.

                                          specifically:

                                          Section 1033 of the tax code provides a special tax treatment for people whose property has been stolen, appropriated by the government (e.g. eminent domain), or otherwise “involuntarily converted.”
                                          Last edited by dyna mo; 05-23-2014, 10:39 AM.

                                          Comment

                                          • dyna mo
                                            just a fucking jerk
                                            • Dec 2008
                                            • 68184

                                            #22
                                            This insight is from Robert Raiola senior manager in the Sports & Entertainment Group of the Accounting Firm O'Connor Davies, LLP. Sterling reportedly purchased the Clippers for $12.5 million in 1981. If he sold the team today, it would be worth at least $600 million, perhaps closer to $1 billion. Between federal and state capital gains taxes, Sterling would pay an approximately 33 percent tax rate on the difference between what he paid for the team and what he sold it for.

                                            For instance, if he sold the Clippers today for $1 billion, Sterling would pay capital gain taxes of 33 percent on a gain of $987.5 million. As a result, Sterling would owe Federal & state capital gain taxes of approximately $329 million.

                                            If instead Sterling holds onto the Clippers and some time from now passes away, his family would inherit the team. The family would inherit the team with a value pegged to its fair market value. As Raiola stresses, the new value of the team would be crucial for purposes of capital gains tax.

                                            Here's why: if the family inherited the Clippers and then sold it, they would only pay a capitals gain tax on the difference between the value of the team when they inherited it and the value of it when sold. For instance, if the family inherited the team and it was worth $700 million and then they sold it for $800 million, they would only pay capital gain taxes on a gain of $100 million. In that instance, there would be a comparatively modest tax bill of $33 million.

                                            If the Sterling family inherited the Clippers and simultaneously sold it, Raiola tells SI.com, they would pay no capital gains tax, but still have estate tax issues. However, a transaction could be structured whereby the employees of the Clippers organization could own a percentage of the team. In such case, the capital gain taxes on a sale could be partially or fully avoided.

                                            Comment

                                            • JustDaveXxx
                                              I AM JUSTDAVE !
                                              • Feb 2005
                                              • 4111

                                              #23
                                              Originally posted by L-Pink
                                              Un-fucking-believable !

                                              Here you have a guy who's employees are 75% black, who told his Black and Mexican girlfriend he doesn't care if she fucks Black guys and he's losing his business for hurting feelings over a private conversation which has labeling him a racist.

                                              .
                                              I totally agree with you. This sucks for him.



                                              But If he keeps the team; The NBA looks bad, the Clippers will surely be boycotted by fans, players, sponsors and maybe networks.


                                              This comes down to money and who will really loose out long term.


                                              I dont agree with the forced sale under the situation on how this tape was recorded, but there really isn't any other option.



                                              Money, Money, money!! Thats what its all about.



                                              Just Dave


                                              Smut Peddler Productions.com
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                                              Comment

                                              • L-Pink
                                                working on my tan
                                                • Mar 2005
                                                • 39151

                                                #24
                                                Ok, we see Sterling is being punished. What about his girlfriend? Did she make the tape with the intention of collecting damaging evidence for her personal gain? If so why has the local District Attorney not pursued extortion charges. Fair is fair.

                                                Checking the law, one's a felony and the other is legal.


                                                .
                                                Last edited by L-Pink; 05-23-2014, 10:45 AM.

                                                Comment

                                                • JustDaveXxx
                                                  I AM JUSTDAVE !
                                                  • Feb 2005
                                                  • 4111

                                                  #25
                                                  Originally posted by L-Pink
                                                  Ok, we see Sterling is being punished. What about his girlfriend? Did she make the tape with the intention of collecting damaging evidence for her personal gain? If so why has the local District Attorney not pursued extortion charges. Fair is fair.
                                                  Im way with you on that!! She should be jailed and sued personally. With punitive damages added.


                                                  She did this a "Fuck You" to sterling and his family.



                                                  Just Dave


                                                  Smut Peddler Productions.com
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                                                  Comment

                                                  • dyna mo
                                                    just a fucking jerk
                                                    • Dec 2008
                                                    • 68184

                                                    #26
                                                    Originally posted by L-Pink
                                                    Ok, we see Sterling is being punished. What about his girlfriend? Did she make the tape with the intention of collecting damaging evidence for her personal gain? If so why has the local District Attorney not pursued extortion charges. Fair is fair.

                                                    Checking the law, one's a felony and the other is legal.


                                                    .
                                                    I'm not sure but I don't think the DA can file charges, they have to wait for charges to be files then they press those charges? So the police would have to be involved and initiate the charges, since it's a felony crime. But I guess that just begs the question why aren't the police involved? Perhaps Sterling or someone with some power in this scenario don't want it to get any worse?

                                                    Nevertheless, she's a snake in the grass, she has a rap sheet and 7 aliases.

                                                    Comment

                                                    • jdubs1982
                                                      Registered User
                                                      • Apr 2014
                                                      • 78

                                                      #27
                                                      Originally posted by L-Pink
                                                      Ok, we see Sterling is being punished. What about his girlfriend? Did she make the tape with the intention of collecting damaging evidence for her personal gain? If so why has the local District Attorney not pursued extortion charges. Fair is fair.

                                                      Checking the law, one's a felony and the other is legal.


                                                      .
                                                      Becuase there's no evidence she ever tried to extort anythign from him. They could go after her for illegal wiretapping, but that what $1500 fine or something like that.

                                                      The DA isn't going after Donald Sterling either, that's where you people keep making fools of yourself. This isn't a criminal issue, being legal or not legal has nothing to do with anythiing. Its legal to smoke pot in CO, however if a NBA player smokes pot and fails a drug test he will be punished because he agreed to the terms set in the colective bargining agrreement when he signed his contract. Same as Donald Sterling agreed to the NBA by laws when he bought the franchise.

                                                      Its has nothing to do with freedom of speech, it has nothing to do with what is legal or not, it has nothign to do with how the conversation was record.. all it has to do with the NBA is a business, they are like McDonalds Corporation, yes you can buy a franchise BUT you have to agree to a franchise agreement to do so if you violate that agreement they are prefectly within their rights to take away your franchise. Which is all they are doing. (in fact Sterling already agreed that he couldn't take this issue to court based on the agreement he signed when buying the franchise... at least not the franchise termination part. He could sue the NBA on anti-trust grounds, but he woudl have easily lost that too)

                                                      Comment

                                                      • PR_Glen
                                                        Confirmed User
                                                        • Oct 2006
                                                        • 9058

                                                        #28
                                                        Originally posted by brassmonkey
                                                        if he would let me buy them for $50,000 yes!
                                                        wouldn't your lips get sore after 200,000 blow jobs though?
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                                                        Comment

                                                        • KillerK
                                                          Confirmed User
                                                          • May 2008
                                                          • 3406

                                                          #29
                                                          I don't think he should have been forced to sell.

                                                          But I hate basketball anyway, it's a useless sport.

                                                          Comment

                                                          • LeRoy
                                                            Porn Pusher
                                                            • Jul 2007
                                                            • 13364

                                                            #30
                                                            Originally posted by PR_Glen
                                                            wouldn't your lips get sore after 200,000 blow jobs though?
                                                            1 billion to buy the team, that would be 5000.00 per blowjob
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                                                            • TCLGirls
                                                              Confirmed User
                                                              • Feb 2010
                                                              • 3068

                                                              #31
                                                              The voice recording was not done in secret. Sterling knew the ex-gf was recording the conversation. It was part of some sort of sexual fetish for him.

                                                              That is why Sterling has not sued the ex-gf. And that is why the DA has not brought any criminal charges against the ex-gf.

                                                              Comment

                                                              • oppoten
                                                                NAME THE JEW
                                                                • Nov 2007
                                                                • 4793

                                                                #32
                                                                Will he give up the name Sterling and revert back to Tokowitz?

                                                                Thought not.

                                                                Comment

                                                                • JA$ON
                                                                  Confirmed User
                                                                  • Aug 2007
                                                                  • 1329

                                                                  #33
                                                                  She agreed to negotiate the sale, BUT ONLY if she can keep a % interest.....which the league will never allow.

                                                                  Comment

                                                                  • Captain Peacock
                                                                    So Fucking Banned
                                                                    • Jul 2013
                                                                    • 155

                                                                    #34
                                                                    Mandingo United 1 - Old Jew City 0

                                                                    Comment

                                                                    • Far-L
                                                                      Confirmed User
                                                                      • Feb 2002
                                                                      • 6065

                                                                      #35
                                                                      Sterling fucked up. He should have went into the press conference and explained that it was part of sex play and he was just playing the part of humiliated cuckhold, that he was secretly into Magic banging his girl, while he watched, until it was time for him to eat her out after a few players had their way with her. He could have gone to "sex addiction" therapy and kept the team.
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                                                                      • blackmonsters
                                                                        Making PHP work
                                                                        • Nov 2002
                                                                        • 20961

                                                                        #36
                                                                        Originally posted by AllAboutCams
                                                                        No freedom of speech in america now?
                                                                        Seriously, freedom of speech refers to the protection of political speech.

                                                                        http://en.wikipedia.org/wiki/Freedom_of_speech

                                                                        Private parties don't have to listen to your shit.
                                                                        They can fire you and tell you to shut the fuck up.

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                                                                        Comment

                                                                        • blackmonsters
                                                                          Making PHP work
                                                                          • Nov 2002
                                                                          • 20961

                                                                          #37
                                                                          Originally posted by L-Pink
                                                                          Ok, we see Sterling is being punished. What about his girlfriend? Did she make the tape with the intention of collecting damaging evidence for her personal gain? If so why has the local District Attorney not pursued extortion charges. Fair is fair.

                                                                          Checking the law, one's a felony and the other is legal.


                                                                          .


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                                                                          Comment

                                                                          • Just Alex
                                                                            Liv Benson to You, Bitch
                                                                            • Aug 2007
                                                                            • 6060

                                                                            #38
                                                                            Originally posted by blackmonsters
                                                                            Seriously, freedom of speech refers to the protection of political speech.

                                                                            http://en.wikipedia.org/wiki/Freedom_of_speech

                                                                            Private parties don't have to listen to your shit.
                                                                            They can fire you and tell you to shut the fuck up.

                                                                            Fire who? The OWNER? Because he said something you don't like?

                                                                            Comment

                                                                            • TCLGirls
                                                                              Confirmed User
                                                                              • Feb 2010
                                                                              • 3068

                                                                              #39
                                                                              Originally posted by Just Alex
                                                                              Fire who? The OWNER? Because he said something you don't like?
                                                                              He's talking about the employer firing the employee.

                                                                              Comment

                                                                              • mozadek
                                                                                Confirmed User
                                                                                • Feb 2008
                                                                                • 1325

                                                                                #40
                                                                                Originally posted by ~Ray
                                                                                at the end of every freedom lies a law. what law did he break?
                                                                                Don't be disingenuous.

                                                                                Comment

                                                                                • Far-L
                                                                                  Confirmed User
                                                                                  • Feb 2002
                                                                                  • 6065

                                                                                  #41
                                                                                  I love how fellow blowhard racist Cuban is showing his true colors too.

                                                                                  I call it "Midas" syndrome. I have met a couple billionaires and they tend to think that everything that they do or say is golden, and have a pronounced tendency to think that they own people, and secretly long for a return to plantation life. Owning basketball teams is their way of indulging their Master/slave fantasy.
                                                                                  Last edited by Far-L; 05-23-2014, 07:12 PM.
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                                                                                  • OY
                                                                                    Industry Pioneer
                                                                                    • Oct 2002
                                                                                    • 5401

                                                                                    #42
                                                                                    Originally posted by Far-L
                                                                                    Sterling fucked up. He should have went into the press conference and explained that it was part of sex play and he was just playing the part of humiliated cuckhold, that he was secretly into Magic banging his girl, while he watched, until it was time for him to eat her out after a few players had their way with her. He could have gone to "sex addiction" therapy and kept the team.


                                                                                    Too funny!
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                                                                                    • John-ACWM
                                                                                      Work Work Work
                                                                                      • Nov 2008
                                                                                      • 20060

                                                                                      #43
                                                                                      Originally posted by adultchatpay
                                                                                      I hope they record all owners conversation and they will end up like Sterling.
                                                                                      pretty sad, though.

                                                                                      Comment

                                                                                      • Klen
                                                                                        • Aug 2006
                                                                                        • 32235

                                                                                        #44
                                                                                        Originally posted by Far-L
                                                                                        I love how fellow blowhard racist Cuban is showing his true colors too.

                                                                                        I call it "Midas" syndrome. I have met a couple billionaires and they tend to think that everything that they do or say is golden, and have a pronounced tendency to think that they own people, and secretly long for a return to plantation life. Owning basketball teams is their way of indulging their Master/slave fantasy.
                                                                                        You dont have to be billionaire to have midas syndrome,in fact some of gfy-ers suffers from it lol

                                                                                        Comment

                                                                                        • SBJ
                                                                                          So Fucking Fabulous
                                                                                          • Apr 2003
                                                                                          • 11387

                                                                                          #45
                                                                                          I'm happy this is turning out this way. Sterling has been a lifelong racist and he's not being thrown out for this one tape. He's being thrown out for all the racist remarks and actions of his past that they weren't able to prove in a court of law or otherwise.

                                                                                          Comment

                                                                                          • wehateporn
                                                                                            Promoting Debate on GFY
                                                                                            • Apr 2007
                                                                                            • 27176

                                                                                            #46

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