Investing Lessons From the Donald Sterling Saga
According to the Law Blog on The Wall Street Journal website, controversial Los Angeles Clippers owner Donald Sterling has retained Maxwell Blecher, a highly respected Los Angeles antitrust lawyer in his fight against the NBA. (Full disclosure: I have enjoyed a personal and professional relationship with Mr. Blecher for many years.)
It’s not surprising that Mr. Sterling would elect not to capitulate to the demands of the NBA without a fight. What I find interesting is that the 80-year-old Mr. Sterling retained Mr. Blecher, who is also 80.
The legal issues involved in the dispute between the NBA and Mr. Sterling are exceedingly complex. While few would try to defend the racist comments attributed to him, whether the NBA has the legal right to levy a fine of $2.5 million, and ultimately require him to sell his interest in the Clippers, is far from clear.
Read the rest of the article on the Huffington Post.