When Donald Sterling dissolved the Sterling Family Trust, the entity that ran the Clippers, he was trying to prevent the sale of the team to Steve Ballmer. It's pretty simple: if the trust did not exist, it couldn't sell anything to anyone. Only, it might not be that simple. According to testimony from Darren Schield, the chief financial officer of the Family Trust, the dissolution could cause several banks to find the trust in default on up to $500 million in loans, which Sterling could not repay without selling the team.

BING NEWS:
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    The series stars Ed O'Neill as Donald Sterling, Laurence Fishburne as former Clippers coach Doc Rivers, Jacki Weaver as Sterling's wife Shelly and Cleopatra Coleman as Donald's former personal ...
    04/25/2024 - 12:39 pm | View Link
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    FX released the trailer for "Clipped" on Thursday, the anniversary of TMZ publishing recordings of Donald Sterling's racist remarks. The series premieres June 4 on Hulu.
    04/25/2024 - 7:39 am | View Link
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