$2B sale of Clippers to hinge on technicalities of trust law not Sterling’s mental capacity
LOS ANGELES, Calif. – The $2 billion sale of the Los Angeles Clippers will hinge on the technicalities of family trust law and whether Donald Sterling’s estranged wife had the right to unilaterally negotiate a deal with former Microsoft CEO Steve Ballmer under the terms of the family trust.
Superior Court Judge Michael Levanas said Monday that a July 7 trial won’t focus on whether the 80-year-old Sterling is mentally incapacitated. Instead, attorneys will argue over whether Shelly Sterling properly followed the family trust’s terms in declaring him so.
Another issue is what happens to a deal that hasn’t been closed when a trust is revoked. Donald Sterling revoked the trust on June 9.
Shelly Sterling made the deal in May after Donald Sterling’s racist remarks were publicized and the NBA moved to oust him as owner.
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