Clippers CEO and Shelly Sterling to testify today
LOS ANGELES - The interim CEO of the Los Angeles Clippers is set to testify today at the Los Angeles trial to determine whether the sale of the team to former Microsoft CEO Steve Ballmer can go through.
CEO Richard Parsons will be called as a witness to support Shelly Sterling's bid to sell the team to former Microsoft CEO Steve Ballmer for $2 billion.
Parsons took over leadership of the Clippers in May during the media blitz surrounding the banishment of Donald Sterling from the NBA for making racist comments.
Also on today's witness list is Shelly Sterling, who says her estranged husband has the onset of Alzheimer's disease and is not competent to handle his business affairs.
Yesterday, the chief financial officer of Sterling's properties said that if the sale does not go through, the billionaire may be forced to sell a large portion of his real estate empire to cover $500 million in real estate loans.