How Basketball Teams Are Like Collectibles

Steve Ballmer's plan to buy the Los Angeles Clippers for $2 billion is an unusual situation for both the buyer and seller.

As one close friend of Ballmer's told me Friday morning: "He's obsessed with basketball, he needs something to do and he's got $18 billion."

So we can't extrapolate too much from this yet. But it does underscore a fundamental shift in sports. Teams are now valued more like Picassos, rare diamonds and vintage Ferraris than fundamental businesses.

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