Will David Geffen Take Over The LA Clippers?
BY Michelle Garcia
April 30 2014 12:13 PM ET
Hollywood mogul David Geffen has emerged as a potential buyer for the Los Angeles Clippers, after the team's current owner, Donald Sterling, was banned from the NBA and is expected to be forced to sell his shares of the team.
Forbes estimates that the out film and music mogul Geffen is worth $6.2 billion. According to the Los Angeles Times, Geffen attempted to purchase a controlling share of the team in 2010, but the move was blocked by Sterling.
Shortly after NBA Commissioner Adam Silver announced Tuesday that Sterling would be banned, fined, and ordered to sell his team after being caught using racist language, Geffen's office told the Times that "he would be interested in buying the franchise."
If the deal happens, Geffen would be the first openly gay NBA team owner. Other out professional sports team owners include Laura Ricketts, who co-owns the Chicago Cubs, and Kevin McClatchy, the former owner of the Pittsburgh Pirates.
Other potential buyers include NBA legend Magic Johnson, who is also a partial owner of the L.A. Dodgers, and real estate developer Rick Caruso.
Meanwhile the Orlando Magic's owner Richard DeVos, donated $100,000 to organizations that oppose marriage equality. In 2009, DeVos told the Grand Rapids Press that he had been "hung in effigy" by the gay community since he served on Ronald Reagan's AIDS commission. He said he incurred problems with gay activists because he did not want to concede to "their requests for special treatment." He added that marriage equality had only become a vital issue because "they've made it a vital issue."
"I deal with a lot of wonderful gay people. I hire a lot of them. I use a lot of them. I respect them. They're terrific," he said in 2009. "I am good friends with them. But you live your life the way you want to live and I'll live mine and I won't stick my nose in yours. But don't keep trying to change things. That's all."