Friday, May 09, 2014

11852: Clippers Recruit Dick Parsons.

USA TODAY reported former Citigroup and Time Warner Chairman Dick Parsons was selected to serve as Los Angeles Clippers CEO, replacing owner Donald Sterling. Not sure if this move will offset the Offensive Karma that Sterling generated.

Dick Parsons, ex-Time Warner boss, tapped as interim Clippers CEO

By Adi Joseph, USA TODAY Sports

The NBA went business class in picking the Los Angeles Clippers’ interim CEO.

Former Citigroup and Time Warner chairman Dick Parsons was selected to run the Clippers in the aftermath of the lifetime ban of Donald Sterling, NBA Commissioner Adam Silver announced Friday. The NBA took control of the Clippers in order to place Parsons in charge as the league proceeds with its plan to force Sterling to sell the team.

“Like most Americans, I have been deeply troubled by the pain the Clippers’ team, fans and partners have endured,” Parsons said in a news release. “A lifelong fan of the NBA, I am firmly committed to the values and principles it is defending, and I completely support Adam’s leadership in navigating the challenges facing the team and the league. The Clippers are a resilient organization with a brilliant coach and equally talented and dedicated athletes and staff who have demonstrated great strength of character during a time of adversity.”

Parsons played basketball at the University of Hawaii in the late 1960s. He stepped from Albany Law School into a successful career in law and later corporate management. He has been CEO of Dime Bancorp in addition to his run as president and then CEO of Time Warner from 1995 through 2008. He was Citigroup chairman from 2009 through 2012.

“I believe the hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization,” Silver said in a news release. “Dick’s credentials as a proven chief executive speak for themselves and I am extremely grateful he accepted this responsibility.”

Sterling, the owner who made racist statements to a female friend on an audio recording that went public April 26, is barred from any contact with his team or the NBA, and Silver has pushed the NBA’s Board of Governors to force him to sell his team. But Sterling is expected to fight, and wife Shelly Sterling is interested in keeping her stake the franchise even if Donald Sterling is forced to sell, USA TODAY Sports’ Brent Schrotenboer reported Thursday.

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