His group bid $6.1 billion for the team for the first tranche of the sale, with a $7.4 billion valuation for the remainder of the shares. “It was a calculated risk, making sure you put all your chips on the table,” he said. “That’s kind of where I got to: Do something you wouldn’t regret later if you lost.” A day later, he learned the number was just high enough. The second-place bidder, believed to be Middleman, came in at more than $6 billion. Pagliuca, multiple sources briefed on the negotiations said, offered $5.5 billion.
New York Times
This article originally appeared on Hoops Hype: His group bid $6.1 billion for the team for the first …
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