There Are Already Crowdfunding Campaigns to Buy the Clippers From Donald Sterling

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NBA commissioner Adam Silver gestures as he announces that the NBA will ban NBA Clippers owner Donald Sterling from the sport for life and slapped Sterling with a $2.5 million fine for racist remarks heard on a video and subsequently investigated by the NBA, Tuesday, April 29, 2014, in New York.

Image: Kathy Willens/Associated Press

By Samantha Murphy Kelly2014-04-30 16:39:31 UTC

Major celebrities such as Magic Johnson, P.Diddy and Oprah are reportedly interested in buying the Los Angeles Clippers from owner Donald Sterling, but it looks like the Internet wants in, too.

A collection of crowdfunding campaigns have popped up on sites like Indiegogo as part of an effort to buy the Clippers from Sterling. A team backed by the people, for the people?

SEE ALSO: Will Donald Sterling Get a $1 Billion Payday for Being Racist?

On Tuesday, NBA Commissioner Adam Silver banned Sterling from the NBA "for life," following an investigation into a leaked audio recording of the owner making a series of racist statements. (On the recording, Sterling berated his girlfriend for "broadcasting her associations" with African Americans and told her not to bring them to games.)

"Now that he has been banned for life by the NBA, and the commissioner is looking to force a sale of the team, the opportunity has suddenly presented itself for all of you to own a piece of the team you care so much about," writes Rob Wilson, the campaign's organizer, on the Indiegogo page.

Golden State Warriors forward David Lee, left, and Los Angeles Clippers center DeAndre Jordan battle for a rebound during the second half in Game 5 of an opening-round NBA basketball playoff series, Tuesday, April 29, 2014, in Los Angeles. The Clippers won 113-103.

Image: AP Photo/Associated Press

The campaign, which has only raised $50 from two backers so far, promises backers voting power and owner rights. The funding goal is listed at $500 million.

"After the commissioner said he was looking to force a sale of the Clippers, I saw people on social media saying "I hope Diddy or Oprah' buys the team," Wilson told Mashable. "But why should we have to sit back and hope someone of integrity buys the team? Why couldn't we just buy it ourselves?"

Wilson, who started his investor career at Smith Barney, is urging one million Clippers fans to spend $500 each to reach the funding goal.

"I strongly believe that technology has leveled the playing field for the average individual," Wilson said. "If you want to be a writer, you don't need to wait for permission from the New York Times to do so; go start a blog. If you want to be a TV star, create a show on YouTube. We don't need permission to do something great anymore, and why shouldn't owning a sports team be one of those things?"

Wilson said Indiegogo contacted him to not include any language that suggested a backer would get a "share" of any company. In other words, the campaign can't be marketed as an investment.

"We're trying to find a way to restructure it so that it will satisfy the terms of service, yet also be attractive to potential backers," he said. "The original idea was to allow people to back the project by buying 'shares' of a new company that would be set up to bid on the Clippers. Of course, as with any investment, the more shares you buy, the larger percentage of the entity you would own."

If the campaign doesn't reach its funding goals, contributions will be returned, Wilson said.

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Topics: basketball, crowdsourcing, donald sterling, Entertainment, indiegogo, LA Clippers, Sports