Ex-Citigroup chairman Richard Parsons to replace Donald Sterling at LA Clippers
New York: Richard Parsons, the former chairman of media giant Time Warner and Citigroup, was named on Saturday as the interim chief executive of the Los Angeles Clippers.
The move by the NBA came in the wake of the life ban imposed upon Clippers owner Donald Sterling for racist remarks revealed two weeks ago by celebrity watchdog website TMZ.
“The hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization,” NBA commissioner Adam Silver said. Sterling, who told his girlfriend he did not want her to bring black people to Clippers games or post photos of herself with black people on social media, was banned for life by Silver.
NBA owners are expected to push to remove Sterling as owner soon, but Sterling could launch a court battle rather than sell or lose a team worth more than $600 million. Parsons, now a senior advisor at Providence Equity Partners, was on US President Barack Obama’s economic advisory team.