Steve Ballmer admits he may have overpaid when he purchased the Los Angeles Clippers for $2 billion in 2014.
The former Microsoft CEO spoke about his decision to buy the Clippers while appearing on the "Podcast P with Paul George," explaining how he knew he had to jump at the opportunity when the team came up for sale. Looking back on the situation now, though, Ballmer believes he could've paid around $200 million less.
"I was all in, but then it got into the bid process. And I was still all in, but we were in the bid process and I just said, 'I'm gonna get this team,'" Ballmer said. "People thought I way overpaid, but I got the team. I probably paid 10% more, maybe, than I needed to."
The decision still paid off for Ballmer, as the Clippers are currently ranked as the 45th most valuable sports franchise in the world by Forbes with a valuation of $3.9 billion. Ballmer, meanwhile, has an estimated net worth of $101.5 billion.
The Clippers were previously owned by Donald Sterling, who received a lifetime ban from the NBA in 2014 after an audio recording of him making racist remarks surfaced.
