He may be a racist ... and an ahole ... but when it comes to dollars and cents, disgraced Clippers owner Donald Sterling is a LEGEND in the investment community ... so says "Shark Tank" star Kevin O'Leary.
Mr. Wonderful was out in L.A. last night when we asked about the risks of investing in pro sports franchises ... and that's when the financial genius brought up Sterling.
"I think sports teams are based on losing money while you own them and hoping somebody else pays a lot more later. That has certainly been the truth. I mean the Sterling situation really accentuates that."
He continued, "[Sterling] put $12 million in play and now [the Clippers are] worth $2 billion? Very. Smart. Man."
O'Leary explained that people can argue about the content of Sterling's character ... but at the end of the day, you can't argue with the cold hard numbers.
'Shark Tank's' Daymond John
'Famous in 12' Chicks Need Talent
6/17/2014 5:45 PM PDT BY TMZ STAFF
We hit up famous TV 'Shark' Daymond John for a round of STREET "Shark Tank" ... and we got to make 3 pitches.
Two of 'em were DOA, but Daymond thinks the one about a fame hungry family willing to do anything to make it in Hollywood ... just might have legs. IF their legs have an ounce of talent.
Jennifer Love Hewitt
Sues 'Shark Tank' Wannabe ...
You Bit My Image
6/4/2014 5:41 PM PDT BY TMZ STAFF
Jennifer Love Hewitt's face is getting spread all over the Internet and she ain't happy about it -- she is suing the company using her image to promote a product the "Shark Tank" investors called a total "scam."
The product is called Slim Spray ... which claims to be an oral vitamin spray that will boost your energy and shed pounds. According to the lawsuit ... J.Love's face and bod have been attached to spam ads (you might have one in your inbox right now) that make it look like she endorses the stuff.
Jennifer claims she's worked too hard to develop her "stellar reputation and credibility" to have it all blown by Slim Spray -- and says she never authorized the company to use her image.
As for the photo of her holding the product -- she implies someone put it in her hand on a red carpet event, snapped a pic ... which ended up on Slim Spray's website and ads.
In the docs -- filed Wednesday in L.A. -- she points out the "Shark Tank" crew dismissed the spray as nothing more than a "hustle."
She wants Marz Group -- the makers of Slim Spray -- to quit using her image ... and she is asking for damages.
Trump Can't Afford Buffalo Bills Alone
Donald Fires Back HARD
4/5/2014 12:55 AM PDT BY TMZ STAFF
Mark Cuban tells TMZ Sports he does NOT believe Donald Trump can afford to purchase the Buffalo Bills all by himself ... a statement that Trump says is DEAD WRONG.
Trump also says Cuban's a "lightweight whose net worth is a fraction of mine" ... and claims he has first-hand knowledge that Mark sucks at golf.
His response: "He cant afford them by himself. So it would be interesting to see what group he put together to buy them. It would make things interesting."
Donald, to put it lightly, disagreed ... and fired back hard at the insinuation his bank account couldn't handle the purchase.
"Mark Cuban is a lightweight whose net worth is a fraction of mine. He was rejected by baseball and probably plenty of others! By the way, I watched him play golf and he is a total non-athlete – zero clubhead speed. He lives vicariously through his basketball players."
Trump added, "By the way, the Dallas Mavericks deal is syndicated and his partners have been fighting him over poor management. While the Bills deal would be easily handled by me, if I chose to do it, almost all sports deals are syndicated."
Sounds like fightin' words to us.
Gunning to Bring 'Shark Tank' Product
to Mavs Arena
3/20/2014 12:25 AM PDT BY TMZ STAFF
Mark Cuban wasn't joking when he promised a "Shark Tank" entrepreneur he'd get his product into Mavs gift shops -- 'cause TMZ Sports has learned U-Lace is planning to drop at American Airlines Arena beginning next season.
We spoke with Tim Talley -- who got Mark to invest $200k into his customizable shoe lace business on a recent episode of "Shark Tank."
Talley says sales have exploded since Mark came aboard -- and so far, Cuban has been dead serious about delivering on the promises he made on the show, starting with the plan to sell at Dallas Mavericks team shops.
"We'll likely get the laces into the arena early next season," Talley says ... adding that U-Lace is also gunning for deals with other NBA teams ... as well as organizations in the NFL, MLB and NHL.
Talley says the company is also developing shoes to go along with the laces.
Makes sense to us.
Harvey Sells TMZ
9/28/2013 12:10 AM PDT BY TMZ STAFF
vs. 'Shark Tour'
Allegations Of Sabotage
7/26/2013 11:38 AM PDT BY TMZ STAFF
Daymond John and Robert Herjavec, two of the money guys from “Shark Tank” are at the center of a massive $50 million lawsuit ... involving a pissed off "shark" wrangler, TMZ has learned.
A Personal Injury lawyer in Florida – Bobbie Celler – claims he hired John and Herjavec as experts to speak at an upcoming event called the "Shark Tour" -- an expo for people trying to start their own businesses.
In his lawsuit, Celler says John and Herjavec pulled out of the event just one month after they signed contracts to appear. -- and Celler says he smells something fishy.
According to the suit, filed in Florida, BC is convinced Daymond and Robert were coerced to withdraw because of “internal pressure” from Sony Pictures Television, one of the companies that produces “Shark Tank.”
Celler -- who says he's in the process of securing a trademark for Shark Tour -- suggests Sony meddled with the deal because it doesn't want anyone to think the Shark Tour is in any way affiliated with "Shark Tank."
Celler is NOT suing Daymond or Robert -- instead, he's going after Sony for tortious interference with a business relationship ... and he wants $50 mil to make things right.
We've reached out to the sharks for comment -- along with Sony -- so far, no one's talking.
'Shark Tank' Cast
It's a Small World ...
AND WE COULD BUY IT!
7/12/2013 8:27 AM PDT BY TMZ STAFF
With a combined estimated net worth approaching $700 million ... Daymond John, Barbara Corcoran, Kevin O'Leary and Robert Herjavec (aka the cast of ABC's "Shark Tank") took in the rides at Disneyland yesterday with their families.
Apparently the world really is too small ... to invite Mark Cuban and Lori Greiner along.
'Shark Tank' Star
Taylor Swift Got RIPPED OFF in $17 Mil Mansion Deal
4/30/2013 7:00 AM PDT BY TMZ STAFF
If Taylor Swift seems a little more like a black superhero this morning, it's because she got the SHAFT in her $17 million Rhode Island mansion ... this according to "Shark Tank" star Barbara Corcoran.
Barbara -- a stone cold PIMP in the New York real estate scene -- was at a small business summit at the Omni in D.C. when we asked if Swift got ripped off when she purchased a massive 11k+ square-foot mansion in the Ocean State.
Barbara's response? Let's just say this shark can bite.