The NBA has appointed Richard Parsons, former chairman of Citigroup and Time Warner, as the interim CEO of the Los Angeles Clippers.
With Donald Sterling serving a lifetime ban from the NBA, and his righthand man Andy Roeser put on indefinite leave, the NBA and Commissioner Adam Silver needed to install someone who would be able to supervise operations and make decisions for the franchise until ownership of the team changes hands. While many Clipper fans hope that ownership changes hands in the short term, it’s extremely unlikely. If you’re a Clippers fan, you should probably get to know Parsons very well, he’s going to be around for awhile.
Parsons, as we mentioned, is the former chairman of Citigroup and Time Warner, and was previously a managing partner of the law firm Patterson, Belknap, Webb & Tyler. He was also the CEO of Dime Bancopr, Inc.
“I believe the hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization. Dick’s credentials as a proven chief executive speak for themselves and I am extremely grateful he accepted this responsibility.” – NBA Commissioner Adam Silver
Parsons, 66, has also served on President Barack Obama’s economic advisory team. Parsons was a member of the basketball team at the University of Hawaii before earning his law degree from Albany in 1971.
This story was first reported by David Aldridge of NBA.com.