Magic Johnson’s Game Plan Amid Sterling Controversy
And just like that, the world seemed to have turned upside down for current owner of Los Angeles Clippers Donald Sterling. This is following the unpleasant controversy surrounding the racially charged comments he allegedly made in one of the private conversations with his girlfriend.
A Win-Win Exit Strategy
This prompted the NBA to ban Sterling for life as a sanction, which brings us to question, what would be his exit strategy given the rather sudden turn of events? According to an unnamed source, Magic Johnson, along with Mark Walter of Guggenheim Partners — his billionaire backers who also happen to be the owners of the Los Angeles Dodgers — are eagerly standing on the sidelines expressing interest in buying the basketball franchise.
As of this writing, the LA Clippers are not officially up for sale, but there is no denying the fact that steering the sale of Clippers to Magic could potentially become positively transformative for the franchise.
Untimely Exile for Sterling, A Golden Opportunity for Johnson
Could this be the best exit strategy for Sterling? According to speculation, the owner could potentially walk away with over $1 billion for the Clippers franchise as he exits from the league. Selling the Clippers to Magic Johnson could very well be a decent farewell for Sterling to punctuate the highly controversial and disgraceful ownership tenure. In the eyes of many, this could be his saving grace.
Just when you start to think nothing could stun you, the world of business and sports is set to prove nothing is ever constant. In view of the lifetime ban from the NBA, Sterling will not have any other choice but to sell the basketball franchise.
Financing For Growth and Expansion
For interested buyers, this is too huge of an opportunity not to pounce on. Without a doubt, Magic is not the only party who has expressed keen interest in a potential takeover. For investors this is a golden opportunity that could blow the doors wide open for future money-making opportunities, especially with a franchise like the Los Angeles Clippers.
The same is true for ordinary businesses; the difference is we’re not Magic Johnson with billionaire business partners to back us up. Whatever industry you may be operating in, every so often a wonderful opportunity presents itself that will pave the way for growth and expansion.
The question is, are you financially ready for an unplanned acquisition that’s too good to pass up? If not, there are a number of ways to fund growth.
The truth of the matter is, rarely can you find a big business that is self-funded. Whether it involves expanding the employee base, acquiring a new facility or developing a new product, most businesses seek financial assistance from trusted financial institutions.
Business experts have advised that when it comes to seeking outside financial assistance, business owners should not be short-sighted. A business financing loan is a small trade-off especially in exchange for exponential growth.
First Capital Business Finance is one of the trusted lending institutions that specifically caters to small and medium businesses looking for additional funds to expand or grow their operations.