At the time of his death McClendon owned a 20% stake in the Oklahoma City Thunder NBA franchise. Because of the decreased value of McClendon’s business interests some of his creditors believe that the basketball team ownership stake might be the estate’s most valuable asset. This has caused them to intervene in the estate case.

The creditors fear that the estate will sell the ownership stake to McClendon’s widow at less than market value and they are asking the court to make sure that does not happen. Attorneys for the estate suggest that the creditors are jumping the gun as the stake has not been sold yet and any sale would have to meet with the approval of the NBA.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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