Celebrities and their deals….

A couple of months ago Magic Johnson was the saviour of the Los Angeles Sparks and it would appear he is now one of a number of high profile celebrities being linked with the Los Angeles Clippers.

The sale of the Los Angeles Clippers has come about in rather unusual circumstances with their current owner, Donald Sterling, being banned for life and fined USD 2.5m by the NBA commission after he was taped making racist comments. Mr Sterling, the 80-year-old real estate billionaire, now has a raft of celebrities being linked with a potential purchase of the Clippers, including TV talk show superstar Oprah Winfrey, Floyd Mayweather, the boxing champion, entertainment mogul David Geffen and Oracle Corp’s CEO Larry Ellison. Add to the list Sean “P Diddy” Coombes and Magic Johnson and you have a cast of potential buyers that would have your M&A dealmakers secretly reaching for their autograph books.

As they say, “one man’s mistake appears to be another man’s, or in this case celebrities’, gain”.

Filed under: dealmaking, M&A, sports, US, basketball