The former Microsoft CEO became the Los Angeles Clippers new owner when he purchased the basketball franchise from the embattled Donald Sterling for an eye-popping $2 billion back in August- a sum equal to about four times the next highest franchise price ever paid.
Naturally, most observers thought it was just another in a long line of bad ideas stretching back through his Microsoft days (think MSN smart watch, Windows Vista, Windows CE, Zune, and even ‘Clippy’, that horribly annoying paper-clip cartoon that would pop up every time you attempted to do one thing in an MS Office application).
But all that skepticism was unwarranted it turns out. According to a recent article in the Financial Times, Ballmer will likely be able to get $1 Billion in tax breaks on his Clippers deal over the next 15 years owing to some sneaky, little understood accounting treatments. Continue reading