Its not a trial. His past transgressions were not league infractions up until now.
In Brooklyn you have an oligopolist who built is fortune from state assets, off the backs of citizens.....
In Cleveland you have an owner who helped perpetuate fraud with Countrywide Mortgage........
In OKC you have an owner who fracks, causing toxic drinking water, earthquakes, and not paying royalties.......
and In LA you have a slumlord!!!!!
Until it touches the league and sponsers, its not a leauge matter. They get vetted when they buy the teams but they are not on trial.
Silver was great, handled the questions with great clarity and authority!
While there is moral outrage the owners will back him because to not go this far would do long term damage to the league, its ratings, and franchise values. So in turn the league seems to be on the right track with this.
NYKBocker wrote:mreinman wrote:NYKBocker wrote:Is it legal to force anybody to sell their property or asset?
Its in the NBA bylaws that 3/4 of ownership votes can force him out.
What does that mean? Who decides if a person has commited an error as per the bylaws? Who decides what is punishment? Does it have the backing of the government? My apologies. I am a lowly software engineer and I am not in the know.
Professional sports have all sorts of exemptions from regular law. It's not a legal trial. As far as I understand it, the owners vote on whether they think it would be in the interests of the league for him to leave. They can say yes even if he hasn't committed a crime. They all (including Sterling) agreed to this system.
fishmike wrote:they couldnt hurt Sterling in the wallet. So they took away the part he loved most... schmoozing like a star at the games in his LA digs. I think this is fitting. It literally forces a sale. Doc will walk away. Players will boycott. Draft choices will refuse to play. Thats my prediction and hope. Sterling may prefer to see the thing run into the ground in some pissy attempt to fight the NBA but hard to see that bearing fruit
Yup my sentiments exactly. I don't think sterling is dumb enough to fight this. My only question is can a family member still take over or will their be a new owner entirely?
The billion he makes off the team is irrelevant. He's not going to be around much longer to enjoy it. It will be in his families hands and maybe they will donate some if it to charity.
sterling loved being seen otherwise he would've relinquished control years ago. He is goin to miss that for sure
gunsnewing wrote:fishmike wrote:they couldnt hurt Sterling in the wallet. So they took away the part he loved most... schmoozing like a star at the games in his LA digs. I think this is fitting. It literally forces a sale. Doc will walk away. Players will boycott. Draft choices will refuse to play. Thats my prediction and hope. Sterling may prefer to see the thing run into the ground in some pissy attempt to fight the NBA but hard to see that bearing fruit
Yup my sentiments exactly. I don't think sterling is dumb enough to fight this. My only question is can a family member still take over or will their be a new owner entirely?
I believe a sale would create a taxable event with a hefty capitol gains tax and state taxes etc...likey up to 50% in taxes. I would think Sterling would want to have a family member take over (disguised sale), but Silver said he and the owners would force a sale. This ain't over yet. Hundreds of Millions of $$ at stake for Sterling.
Silver is doing a good job so far- I thought he'd be a disaster, but I've been pleasantly surprised so far. Good riddens to Sterling- how he got away with his crap for this long is ridiculous.
Rookie wrote:gunsnewing wrote:fishmike wrote:they couldnt hurt Sterling in the wallet. So they took away the part he loved most... schmoozing like a star at the games in his LA digs. I think this is fitting. It literally forces a sale. Doc will walk away. Players will boycott. Draft choices will refuse to play. Thats my prediction and hope. Sterling may prefer to see the thing run into the ground in some pissy attempt to fight the NBA but hard to see that bearing fruit
Yup my sentiments exactly. I don't think sterling is dumb enough to fight this. My only question is can a family member still take over or will their be a new owner entirely?
I believe a sale would create a taxable event with a hefty capitol gains tax and state taxes etc...likey up to 50% in taxes. I would think Sterling would want to have a family member take over (disguised sale), but Silver said he and the owners would force a sale. This ain't over yet. Hundreds of Millions of $$ at stake for Sterling.
Don't know how the team is structured currently. What is his actually ownership %.
Transfer of ownership to a family memeber is also a taxable event, but there are methods to mitigate that over a time frame but that is a something we'll have to see done.
It's no a legal matter.
Question is will Sterling go quietly into the night?
Wow! Congrats to Silver! Wasn't really sure that anything of any substance would come out of this, good for him!
Assuming he's forced to sell, and that's still a big assumption right now, I don't think he'd be able to sell to a family member. If I remember correctly, all sales need to be approved by the other owners before it's final. If 3/4 of the owners force him to sell I don't see how they would approve him selling to a family member.
VCoug wrote:Wow! Congrats to Silver! Wasn't really sure that anything of any substance would come out of this, good for him!Assuming he's forced to sell, and that's still a big assumption right now, I don't think he'd be able to sell to a family member. If I remember correctly, all sales need to be approved by the other owners before it's final. If 3/4 of the owners force him to sell I don't see how they would approve him selling to a family member.
Depends on structure. They can boot him, and sell the franchise for him. I doubt it comes to that.
What we don't know is how the family is financially aligned to be able to own the team.
If he even effectively transfers the ownership to a trust, it is a taxable event. He and the Mrs. have not divorced for fianical reasons as it would fracture their finances like the former dodgers ower had problems with. They had to sell the team do divide the asset.
It going into a trust means the ownership transfers from Sterling. He is banned for life regardless so he is gone.
NYKBocker wrote:mreinman wrote:NYKBocker wrote:Is it legal to force anybody to sell their property or asset?
Its in the NBA bylaws that 3/4 of ownership votes can force him out.
What does that mean? Who decides if a person has commited an error as per the bylaws? Who decides what is punishment? Does it have the backing of the government? My apologies. I am a lowly software engineer and I am not in the know.
NBA ownership basically operates under a constitution with bylaws and rules that each owner must agree to in order to become a group. It's kind of like having to join a worker's union if you work for a company with union employees. Most of the rules are kept from the public, which is why Silver didn't lay out which provisions of the constitution were violated when a reporter asked him that question.
The NBA's board of governors and the owners as a group police themselves.
I'd prefer no sale occur until he dies. Giving him a massive windfall in a franchise sale is no punishment IMHO, and the sale price is too open to manipulation right now. I'd rather see them force all profits back into the franchise, the community, and the salary cap to pay back his former stinginess.
Would the NBA even allow it to be sold to a family memeber? I wish someone would have asked this question.
Nice work by Silver - I didn't think the NBA would go this far but it's impressive to see he has a brass set and will confront this type of controversy head on.
The questions I have are:
1) why wasn't he banned/removed from the NBA hall of fame? And how did he actually get inducted considering his track record as an owner?
2) Sterling admitted the recording was his voice - why isn't he trying to fight it? Seems a little out there to me that a guy who loves to litigate would admit to something that would be so damaging (even if it would eventually be proved it was him)
3) Will Sterling appeal/litigate? I find it doubtful given his admission of guilt but who knows, the punishment is severe so he might.
4) Will the owners support Silver on this and push Sterling out? Most likely but Nalod brought up some things about these guys (Countrywide, Fracking, etc) that may not be a big deal now but once you set a precedent it cannot be undone
5) what about the precedent that has been set here? We have all said things in private that could be misconstrued or offensive to others - now an illegally taped conversation has been released to the public and persecution has followed. Whether you think he is scum of the earth or not is not the issue - speech is no longer free and privacy no longer exists. Sure there are consequences for what you say in public but now we are going after what happens behind closed doors. That is something I find deeply troubling because of it's implications for the future of this country.
All in all I think this was the only outcome that would work in this situation. I do believe that everyone here has lost a little - the players and coaches of the Clippers have had their trust betrayed, the league has suffered a massive racial scandal when it positions itself as progressive, the country is embroiled in another high profile race scandal, the Jewish community has to deal with the perception that it harbors prejudice, and the list goes on.
Good has come out of it too: I think the world has taken a step forward towards reducing the tolerance of racism, it still exists but things are changing. I believe the players are a little more unified and so is the NBA community as a whole. Silver has shown he is the real deal and will hopefully be a great commissioner for the league.
I'm amazed at the swiftness and severity of the punishment...Silver sends a strong message...
OasisBU wrote:Nice work by Silver - I didn't think the NBA would go this far but it's impressive to see he has a brass set and will confront this type of controversy head on. The questions I have are:
1) why wasn't he banned/removed from the NBA hall of fame? And how did he actually get inducted considering his track record as an owner?
2) Sterling admitted the recording was his voice - why isn't he trying to fight it? Seems a little out there to me that a guy who loves to litigate would admit to something that would be so damaging (even if it would eventually be proved it was him)
3) Will Sterling appeal/litigate? I find it doubtful given his admission of guilt but who knows, the punishment is severe so he might.
4) Will the owners support Silver on this and push Sterling out? Most likely but Nalod brought up some things about these guys (Countrywide, Fracking, etc) that may not be a big deal now but once you set a precedent it cannot be undone
5) what about the precedent that has been set here? We have all said things in private that could be misconstrued or offensive to others - now an illegally taped conversation has been released to the public and persecution has followed. Whether you think he is scum of the earth or not is not the issue - speech is no longer free and privacy no longer exists. Sure there are consequences for what you say in public but now we are going after what happens behind closed doors. That is something I find deeply troubling because of it's implications for the future of this country.
All in all I think this was the only outcome that would work in this situation. I do believe that everyone here has lost a little - the players and coaches of the Clippers have had their trust betrayed, the league has suffered a massive racial scandal when it positions itself as progressive, the country is embroiled in another high profile race scandal, the Jewish community has to deal with the perception that it harbors prejudice, and the list goes on.
Good has come out of it too: I think the world has taken a step forward towards reducing the tolerance of racism, it still exists but things are changing. I believe the players are a little more unified and so is the NBA community as a whole. Silver has shown he is the real deal and will hopefully be a great commissioner for the league.
Is Sterling in the Hall of Fame? I can't find that anywhere online. If he were though there's really nothing the NBA could do about that; it isn't the NBA Hall of Fame but the Basketball Hall of Fame and the NBA doesn't control it.
I don't think that he is in the Hall
VCoug wrote:OasisBU wrote:Nice work by Silver - I didn't think the NBA would go this far but it's impressive to see he has a brass set and will confront this type of controversy head on. The questions I have are:
1) why wasn't he banned/removed from the NBA hall of fame? And how did he actually get inducted considering his track record as an owner?
2) Sterling admitted the recording was his voice - why isn't he trying to fight it? Seems a little out there to me that a guy who loves to litigate would admit to something that would be so damaging (even if it would eventually be proved it was him)
3) Will Sterling appeal/litigate? I find it doubtful given his admission of guilt but who knows, the punishment is severe so he might.
4) Will the owners support Silver on this and push Sterling out? Most likely but Nalod brought up some things about these guys (Countrywide, Fracking, etc) that may not be a big deal now but once you set a precedent it cannot be undone
5) what about the precedent that has been set here? We have all said things in private that could be misconstrued or offensive to others - now an illegally taped conversation has been released to the public and persecution has followed. Whether you think he is scum of the earth or not is not the issue - speech is no longer free and privacy no longer exists. Sure there are consequences for what you say in public but now we are going after what happens behind closed doors. That is something I find deeply troubling because of it's implications for the future of this country.
All in all I think this was the only outcome that would work in this situation. I do believe that everyone here has lost a little - the players and coaches of the Clippers have had their trust betrayed, the league has suffered a massive racial scandal when it positions itself as progressive, the country is embroiled in another high profile race scandal, the Jewish community has to deal with the perception that it harbors prejudice, and the list goes on.
Good has come out of it too: I think the world has taken a step forward towards reducing the tolerance of racism, it still exists but things are changing. I believe the players are a little more unified and so is the NBA community as a whole. Silver has shown he is the real deal and will hopefully be a great commissioner for the league.
Is Sterling in the Hall of Fame? I can't find that anywhere online. If he were though there's really nothing the NBA could do about that; it isn't the NBA Hall of Fame but the Basketball Hall of Fame and the NBA doesn't control it.
I thought I saw on the news last night that he was inducted around 2006 - I don't have anything to back it up so he may not be but I found the idea very troubling along with the fact that the NAACP has honored this guy in the last and was set to do it again.
Wasn't he a known racist within the circles he rubbed elbows in?
OasisBU wrote:1) why wasn't he banned/removed from the NBA hall of fame? And how did he actually get inducted considering his track record as an owner?
I don't see him listed in the Hall, am I missing something?
