By Michelle Seiler-Tucker, Special for USDR
Donald Sterling is releasing his proposal to sue the NBA, leaving only approval by the league’s owners for Steve Ballmer to become the new owner of the Los Angeles Clippers. Sterling is to sign off on the $2 billion sale to Ballmer, former Microsoft CEO, bringing this global race infused fiasco to a close. Donald Sterling’s attorney said, “he has made an agreement with the NBA to resolve all their differences.” Sterling gave his consent to a deal that was negotiated by his wife, Shelly Sterling, to sell the team.
The resolution comes as a bittersweet resolve for the general public who feels that a $2 billion selling price is more of an award for “Masta” Sterling than a punishment fit for a racist of his caliber. Especially when taken into account the $1 billion suit against the NBA Sterling filed in federal court alleging the league violated his constitutional rights by relying on information from an “illegal” recording that publicized racist remarks he made to his alleged mistress. Something just doesn’t seem right in the Kool-Aid, pun intended.
If the NBA owners approve the sale, it will be a record breaking deal for a team that cost Donald Sterling about $12 million in 1981 to acquire. But all hope isn’t lost just yet; a vote by league owners must take place in mid-July to approve this phenomenal business deal. As the authority on all things business, I can appreciate an excellent deal when one arises. For a red-handed White supremacist to greatly benefit financially from his cruel and barbaric views and statements cause a visceral reaction in my consciousness. This situation is the perfect example of the power of diversification, acquisition, and ownership. Something very great can be learned from this travesty of a situation from the average business owner and entrepreneur.
The rule of thumb in business is to sell or strike while the iron is hot. All of the publicity that the team is getting at the moment puts a bull’s eye on it for interested buyers. Despite the condition of the ownership, big money is still to be made off of the popular NBA team. The bidding war glamorized by the media makes the Clippers that much more enticing to prospective owners. It is important for an entrepreneur to realize the power of publicity. Even though, all races of the public are currently scrutinizing the former owner of the NBA team, his product is still in full demand. This is one of the strongest examples of brand loyalty. The consumer looks past the faults of a product, and if treated correctly, will continue to patronize the product. Even with the condemnation of Sterling, he still stands the chance of becoming significantly wealthier than he stood before the world knew of his plantation mentality. The lesson to be learned in this sad but true testament is that in this world, money reins supreme over all.
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