Report: Grant Hill forms ownership group with billionaire investors to bid on Clippers
Grant Hill's interest in purchasing the Los Angeles Clippers reportedly took a massive step on Saturday.
According to ESPN, the seven-time All-Star is partnering with billionaire investors Tony Ressler and Bruce Karsh to form an ownership group that will bid on the franchise once Donald Sterling and his wife Shelly are successfully removed as owners.
Hill's group is apparently regarded by NBA officials as a "viable contender" to acquire ownership in what is already shaping up to be a competitive auction.
Both of Hill's new partners have experience when it comes to owning a professional sports team. Ressler is the co-founder of Ares Management and a minority owner of the Milwaukee Brewers, while Karsh is president and co-founder of Oaktree Capital Management and a minority owner of the Golden State Warriors.
Reports on Friday indicated that Sterling is allowing his wife to negotiate the sale of the Clippers, but the NBA is continuing with necessary legal proceedings with the intention of ousting both Sterlings from the league.
Other potential suitors reportedly include the trio of Oprah Winfrey, David Geffen, and Larry Ellison, former Microsoft CEO Steve Ballmer, Los Angeles developer David Caruso, Lakers minority owner Patrick Soon-Shiong, former NBA All-Star Yao Ming, and the Guggenheim Partners/Magic Johnson group who own the Los Angeles Dodgers.
The Clippers are expected to sell for somewhere near the $2-billion mark.