Parsons named interim CEO of Clippers
Former Citigroup Inc. Chairman Richard Parsons was named interim chief executive officer of the National Basketball Association's Los Angeles Clippers, whose owner has been banned from the league for making racist comments.
The NBA disclosed the appointment of Parsons, who was Time Warner CEO from 2002 to 2007 and currently is a senior adviser at Providence Equity, in a statement.
“Like most Americans, I have been deeply troubled by the pain the Clippers' team, fans and partners have endured,” Parsons said in the statement.
Parsons, 66, will give up his position as a board member of Madison Square Garden Co., which owns the Knicks, said two people with direct knowledge of the appointment. The people were granted anonymity because the NBA didn't disclose the information in its release. Providence has a number of sports- related investments.
The league earlier this month said it would appoint a CEO to oversee the franchise after banning Donald Sterling, the NBA's longest-tenured owner.
NBA Commissioner Adam Silver also said he would urge the league's other 29 owners to force Sterling to sell the team, which is playing the Oklahoma City Thunder in the second round of the playoffs.
“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,” Parsons said.
The best-of-seven series is tied at one game each with Game 3 tonight in Los Angeles.
Possible Buyers
Clippers President Andy Roeser this week took an indefinite leave of absence.
A number of suitors have emerged as possible buyers for the Clippers, including music executive David Geffen, who said his bid group would include Oracle Corp. CEO Larry Ellison and Oprah Winfrey.
Sterling hasn't said whether he would fight the NBA's push to force a sale.
“The hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization,” Silver said in the statement. “Dick's credentials as a proven chief executive speak for themselves and I am extremely grateful he accepted this responsibility.”