Los Angeles, CA, United States (4E Sports) – The NBA has selected Dick Parsons, the former Citigroup chairman and former Time Warner chairman and CEO, as interim chief executive officer (CEO) of the Los Angeles Clippers.
“I believe the hiring of Dick Parsons will bring extraordinary leadership and immediate stability to the Clippers organization,” said NBA commissioner Adam Silver.
“Dick’s credentials as a proven chief executive speak for themselves and I am extremely grateful he accepted this responsibility,” Silver added.
The league has appointed a CEO to oversee the day-to-day operations of the franchise after owner Donald Sterling was banned for life and fined $2.5 million for racist remarks he made that were posted by TMZ.
The 66-year-old Parsons is a senior adviser at Providence Equity Partners and sits on the board of directors for the Commission on Presidential Debates.
“Like most Americans, I have been deeply troubled by the pain the Clippers’ team, fans and partners have endured,” said Parsons, who is black.
“A lifelong fan of the NBA, I am firmly committed to the values and principles it is defending, and I completely support Adam’s leadership in navigating the challenges facing the team and the league,” he added.
Parsons, who played basketball at the University of Hawaii, earned a law degree from Albany Law School in 1971 and was a staff lawyer for New York governor Nelson Rockefeller.
Parsons went to Washington after Rockefeller became vice president, and he also worked closely with President Gerald Ford.
He became a partner in the law firm Patterson Belknap Webb & Tyler in 1977, and two years later, he was managing partner. In 1988, Parsons left the firm to become president of Dime Bancorp Inc. He became president at Time Warner in 1995 and was chairman and CEO from 2002 to 2008.
After retiring from Time Warner in 2009, Parsons served as chairman of Citigroup until stepping down in 2012. He was also a member of President Barack Obama’s economic advisory team.