Ex-Microsoft CEO Steve Ballmer reportedly buys the LA Clippers for $2 billion

Jacob Kastrenakes

theverge.com

Steve Ballmer needs something to keep him busy now that he's left his position as CEO of Microsoft, and he may have just found it in the NBA. The former tech executive has reportedly put down a record $2 billion to buy the Los Angeles Clippers, reports The Los Angeles Times. The deal still needs approval from the wife of current Clippers owner Donald Sterling, as well as the owners of the other 29 NBA teams.

The team was put up for sale following its current owner's banishment from the league for making racist remarks. Ballmer's bid was originally said to be $1.8 billion according to a report from Forbes earlier today. Other offers for the team have reportedly come in between $1 billion and $2 billion, with at least one coalition of buyers teaming up to place a sizable bid. A report from Reuters earlier, noted that a decision could be made by the end of the week.

Sterling technically isn't required to sell his team just yet, but he'll likely be required to soon if a deal isn't made: NBA owners are meeting next Tuesday to vote on whether he should be forced to sell. Though the NBA wants to see him gone, it's still hoping that the sale will be voluntary and made before the deadline, according to The New York Times.

Ballmer's bid is the highest of any NBA team to date. According to the Los Angeles Times, the highest NBA sale prices to date have been $550 million for the Milwaukee Bucks and $534 for the Sacramento Kings. Now, however, prices are jumping as owners begin to realize just how lucrative television rights can be. The Clippers' current TV contract reportedly expires in after the 2015–2016 season, giving the new owner a near immediate chance to see big gains.