Ballmer outbid at least four other suitors, offers from each of which soared above the previous record sale price for an National Basketball Association (NBA) team of $550m.
Donald Sterling, the team’s owner, had a lifelong ban imposed on him after being recorded making racist comments.
After that, the NBA started the process of selling the Clippers.
Sterling’s wife, Shelley Sterling, reportedly accepted the bid. According to Bloomberg’s sources, guidelines established in a family trust allowed her to unilaterally make the deal.
Ballmer retired from Microsoft back in February, although he still owns shares in the IT giant.