From the Wall Street Journal's Robert Frank comes word of a wine auction. By the look of things in the comments, that auction is very interesting to angry people in Seattle. That's because it appears to be an effort for controversial Thunder co-owner Aubrey McClendon to raise some cash. (I say controversial, because McClendon famously implied, on the record, that the Thunder ownership group never intended to keep the team in Seattle, despite having signed documents saying they would do so. He also stoked venom by helping to finance various anti-gay marriage initiatives, and that "Swift Boat" campaign against John Kerry.) Frank writes:
According to three people familiar with the auction, the seller is Aubrey McClendon, chief executive of Chesapeake Energy. These people say at least one other broker kicked the tires on Mr. McClendon's collection before it went to Sotheby's.
Mr. McClendon is one of the top wine collectors in the country, known for his love of Burgundy and Bordeaux. He also is known for his cash crunch. Last fall, he was forced to sell 94% of his stake in Chesapeake to pay back margin loans. Mr. McClendon's stake once was valued at more than $2 billion. So it wouldn't be surprising if he were to want to liquidate some of his, er, liquid assets.
Mr. McClendon, through a spokesman, didn't respond to a request for comment.
Sotheby's says it expects the sale to fetch at least $5 million -- not much for a former billionaire, but these days every little million helps.