May 13, 2014 Louisville, Ky.
Let’s Discuss this 50% Shelly Sterling keeps talking about in her latest interview with Barbara Walters. Mrs. Shelly goes on to say how she will fight for her 50% ownership in the Los Angeles Clipper’s, because she shouldn’t be punished for her estranged husband Donald Sterling’s racist remarks. As we know, the NBA banned Donald Sterling for life and has asked him to sell the team. Both Donald and Shelly are on record saying they will fight the decision to sell the team. Mr. Donald Sterling has ask the public if he can be forgiven for the mistake he made. To answer your question Mr. Sterling, yes you should be forgiven, as we all are human, so we all fall short, but just like anyone else that makes mistakes, you must suffer the consequences behind the choice you made. Life is about choices and you already know that. Now Mrs. Shelly Sterling, please stop saying you will fight for your 50% like the league should split the sell of the team down the middle. Last time I heard when two people own 50% in a company, it was called a partnership. According the Webster dictionary, a Partnership is a business or firm owned and run by two or more people. I’m sorry to be the bearer of bad news, but Partnerships have certain structures called Joint Authority and Joint Liability. Please focus on the Joint Liability for a second. This basically means if one owner makes a mistakes that harms the business, then the other owner is also liable for the mistake whether they were involved in it or not. Business 101 says its very important when going into a Partnership that you trust the person you’re going into business with. Joint Liability means that each individual owner can be sued and required to pay the full amount of any business debt. Mrs Shelly the amount of debt required to paid by your 50% ownership of the team is Banned for Life, 2.5 million, and the sell of the Los Angeles Clippers. Nothing more Nothing less. The one thing you can do Mrs Shelly is sue your partner for his shares in the debt. Good Luck and get to suing, because according to your arbitration agreement with the league the fight you’re trying to fight is a weak one. Check the interview below.