Sport shoes maker Skechers USA Inc said on Friday it will explore buying a stake in the Los Angeles Clippers basketball team, whose owner is at the center of a storm over alleged racist remarks.Los Angeles-based Skechers said it was consulting with its advisers about leading an investment group to acquire an interest in the team.National Basketball Association Commissioner Adam Silver has banned team owner Donald Sterling for life and fined him $2.5 million over the alleged comments, fanning speculation that the team will be sold.Earlier this week, Silver called on the 29 other club owners who make up the NBA's governing board to exercise their authority to force Sterling to sell the team.
Skechers U.S.A., Inc. (Skechers) designs and markets Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under several lines. Shares of SKX fell by 3.03% or $-1.2726/share to $40.70. In the past year, the shares have traded as low as $19.99 and as high as $42.01. On average, 653634 shares of SKX exchange hands on a given day and today's volume is recorded at 409449.
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