Skechers Is Interested in LA Clippers, Too

by William White | May 2, 2014 12:48 pm

Skechers USA (SKX[1]), maker of sport shoes, has announced that it’s interested in purchasing a stake[2] in the Los Angeles Clippers.

skechers-clippers-skx-stock[3]

Skechers is interested in forming an investment group to take a stake in the team. The Clippers are likely to get a new owner after their owner, Donald Sterling, made racists comments. Sterling was banned for life from the NBA and fined for $2.5 million by NBA Commissioner Adam Silver, reports Reuters.

“As one of the five largest athletic footwear companies in the United States and with roots deep in Southern California, we believe acquiring an interest in the Los Angeles Clippers is a natural fit for Skechers,” Robert Greenberg, CEO of Skechers’ told The Wall Street Journal[4].

Boxers Floyd Mayweather Jr. and Oscar De La Hoya have both showed an interest in buying the Clippers[5]. Others that may beinterested in buying the Clippers include David Geffen, Magic Johnson, Mark Walter, Rick Caruso, and Patrick Soon-Shiong.

The Clippers have lost many sponsors[6] due to Sterling’s comments. Sponsors that have dropped the NBA team include State Farm, Virgin America, Red Bull and more.

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Endnotes:

  1. SKX: http://studio-5.financialcontent.com/investplace/quote?Symbol=SKX
  2. purchasing a stake: http://in.reuters.com/article/2014/05/02/nba-clippers-skechers-usa-idINL3N0NO3QQ20140502
  3. [Image]: https://investorplace.com/wp-content/uploads/2014/04/Los-Angeles-Clippers-logo.png
  4. The Wall Street Journal: http://online.wsj.com/news/articles/SB10001424052702304677904579537550445364772?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304677904579537550445364772.html
  5. showed an interest in buying the Clippers: https://investorplace.com/2014/04/floyd-mayweather-oscar-de-la-hoya-clippers/#.U2PKOYFdWSo
  6. lost many sponsors: https://investorplace.com/2014/04/nba-news-list-sponsors-dropping-clippers-owners-racist-comments/#.U2PKOoFdWSo
  7. When Is the Kentucky Derby 2014?: https://investorplace.com/2014/05/kentucky-derby-2014/
  8. Ruling: College Athletes Can Form Unions: https://investorplace.com/investorpolitics/college-athletes-unions/
  9. Atlanta Lands Major League Soccer Team for 2017: https://investorplace.com/2014/04/atlanta-major-league-soccer/

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