The sixth-richest man in America is not willing to overpay to own a pro basketball team.
Oracle founder Larry Ellison — contrary to published reports — pulled out of the auction for the embattled Los Angeles Clippers franchise last week without making an offer.
The rest of his quickly assembled bidding group, including David Geffen and Oprah Winfrey, bid by Wednesday’s deadline on their own without Ellison, a source with direct knowledge of the situation told On the Money.
Shelly Sterling accepted ex-Microsoft chief executive Steve Ballmer’s $2 billion offer for the team last Thursday.
Ellison has shown restraint when bidding for basketball teams before.
In 2010, Hollywood power broker Peter Guber outbid him for the Golden State Warriors.
And in 2011, the NBA outbid him for the New Orleans Hornets.
An Ellison spokesman had no comment.