Skechers USA Inc., the Manhattan Beach footwear company, said Friday it will explore acquiring a stake in the Los Angeles Clippers, joining a long list of celebrities and moguls interested in buying the team.
“As one of the five largest athletic footwear companies in the United States and with roots deep in Southern California, we believe acquiring an interest in the Los Angeles Clippers is a natural fit for Skechers,” said Robert Greenberg, Skechers' chief executive “Like Skechers, the Clippers are a great Los Angeles brand with a loyal following and recognition that extends way beyond Southern California.”
The company said it is consulting with advisors to form an investment group as it seeks a stake in the team.
Once among the worst teams in the NBA, the Los Angeles franchise is attracting several potential buyers after sanctions were levied on owner Donald Sterling for racially charged remarks contained on a recording released last week. The NBA has fined Sterling $2.5 million, banned him for life from the NBA and is pushing Sterling to sell the team.
Greenberg said that acquiring a stake in the basketball team would give the company an "opportunity to leverage and cross-promote both the Skechers and Clippers brands.... We hope that Skechers can be part of giving the Clippers organization and fans a fresh start.”
Other potential buyers include Magic Johnson, David Geffen, Sean Combs and Floyd Mayweather Jr.Copyright © 2015, Los Angeles Times