360° Coverage : NBA's Sterling Ban And Potential Forced Sale Sends...

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NBA's Sterling Ban And Potential Forced Sale Sends International Message About U.S.

Apr 29 2014, 3:10pm CDT | by

“Effective Immediately,” said NBA Commissioner Adam Silver, LA Clippers owner Donald Sterling is banned from the NBA. How long? “for life.”  And just to be clear, Silver announced that Sterling “may...

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25 weeks ago

NBA's Sterling Ban And Potential Forced Sale Sends International Message About U.S.

Apr 29 2014, 3:10pm CDT | by

“Effective Immediately,” said NBA Commissioner Adam Silver, LA Clippers owner Donald Sterling is banned from the NBA. How long? “for life.”  And just to be clear, Silver announced that Sterling “may not attend any practices, be present at any Clippers facilities” attend games, or any other league activities. 

Secondly, and more importantly, the NBA will immediately institute a “forced sale” of the team.

And then like a punitive damages award by a jury, Silver took out the financial sword. Sterling was fined $2.5 million, the maximum allowed under the NBA constitution. The proceeds will be donated to charity associated to multiculturalism.

It still takes a three-fourths vote of the NBA Board of Governors to approve the forced sale of the team. I would bet my mortgage the Board will approve the sale. I am so confident because Silver would not have so matter-of-factly and stridently made this pronouncement.

What I appreciate most about this NBA decision is that it was a clear rebuke in the strongest terms possible of abhorrent cultural behavior. It was standing up for the multicultural mission of the League. It was standing up for the players who make money for them all, and prop up the League. I’ll even go so far to say, it is a stronger message to the rest of the world that the equality principles and multicultural aspects of what America stands for have been affirmed.    

Over a dozen sponsors spoke first. They withdrew from the Clippers. The NBA has now keep fans and advertisers from withdrawing as well. Through this announcement, the NBA put an end to potential Clipper boycotts, claims of NBA hypocrisy, and misdirected focus away from the game at the greatest interest and income period –the playoffs.  

The NBA need only do what Silver said they would: Take a “fresh look” at their criteria for allowing someone to own a team. Only then will be more assured that another Sterling cannot use billions to buy his way in while being culturally bankrupt.  

 
Update
2

7 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing the workfo ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

8 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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