Updating a previous report, Grant Hill has teamed up with billionaire investors Tony Ressler and Bruce Karsh to form an ownership group to bid on the Los Angeles Clippers once they become available for sale, according to sources close to the process.

Sources say that Hill's group is already being regarded by league officials as a viable contender to land the Clippers, and that the bidding could start in the $1.5 billion dollar range. Ressler is the co-founder of Ares Management and a minority owner of the Milwaukee Brewers. Karsh is president and co-founder of Oaktree Capital Management and currently serves a minority owner of the Golden State Warriors. Competition is sure to be fierce once the bidding starts, and some experts have projected the list of potential suitors to reach double digits.

Grant Hill is reportedly gathering investors to lodge a bid for the LA Clippers once the team is made available for sale.

Sources say Hill has made it known within league circles that he is in the process of putting a consortium together to purchase the Clippers. Hill is just another name to emerge as a potential suitor for the Clippers, and the list keeps growing each day. As of right now, it seems we are still very far away from new ownership in Los Angeles.

While rumors about Grant Hill possibly becoming the next GM of the Pistons swirl, he has told people close to him that he has no interest in a front office job this close to his retirement.

It makes sense, as Hill has young children and hasn't been out of the league that long. He seems like he has serious GM potential, but it sounds like he'll wait until after his kids are grown before heading in that direction.

Grant Hill announced his retirement on Saturday after 19 seasons in the NBA.

Hill won two NCAA championships with Duke, he won an Olympic gold medal in 1996, and he was named an All-Star seven times during his NBA career, which included stints with the Pistons, Magic, Suns and Clippers. He put up historic numbers in his first six NBA seasons, before a major ankle surgery and numerous smaller injuries derailed him, but he proved surprisingly durable with the Suns from 2008-2011, missing just three games in three seasons. As one of the most charitable and well-respected players in the game, we expect Hill to remain an active part of the NBA community.

ESPN's Marc Stein reports that "rumblings persist" the Suns want to make Grant Hill their next general manager.

It would be an unmitigated disaster if the Suns hire a player on the heels of his retirement to waltz into a general manager's job. The Phoenix roster is an absolute abomination and the team sorely needs someone who has had front office experience. It's unclear how serious the Suns are about hiring Hill or if Hill even has an interest in the job, but Phoenix should be aiming higher.

Grant Hill still isn't sure whether he'll retire this summer.

It was previously reported that Hill was "expected" to retire after 2012-13, but his quotes after the Clippers' playoff exit leave the door open for a return. "For the last four or five years I've been year to year," Hill said. "One plus is that I didn't play a lot this year, so instead of a 40-year-old body, I have a 38-year-old body."

Grant Hill is expected to retire after this season ends.

"Strong chance," he said. "I'm leaning toward it." Hill has had trouble staying healthy in his age 40 season, and it wouldn't surprise anyone to see him hang 'em up after the year.

Grant Hill said that he's feeling "pretty good" from a physical standpoint right now.

"I feel like I've got my legs, I can run and I don't get tired," he said. "I'm not thinking about my knee because physically it feels good." Hill played 16 minutes on Thursday, but he'll only be asked to play a real role when the Clippers absolutely need him on the court.

Grant Hill is currently dealing with some back soreness, but it's not expected to cost him time.

When you're 40 years old and still playing in the NBA, back soreness is inevitable.

Coach Vinny Del Negro admitted that it's hard to find room for Grant Hill in the rotation.

Hill played six minutes on Thursday night and has taken a DNP-CD in two of the last five games. Simply put, the Clippers are too deep. Hill is usually not going to play over Caron Butler, Jamal Crawford or Matt Barnes on the wing.

Grant Hill admitted that he's still not 100 percent healthy.

"The rest of my body is sore, but my knee feels good," he said. Hill, in his 18th season and now 40 years old, is probably not going to be a model of health at any point this year. "It's not where I want it to be, but it's getting there," he said about his conditioning. As long as Hill can contribute down the stretch, the Clippers have no reason to push him right now.

Grant Hill returned to the lineup on Tuesday and had six points, four boards and one block in 19 minutes.

He was a healthy scratch on Monday with the Clippers playing in back-to-back games and he's not likely to see regular playing time no matter what the situation is. Hill can be left on the wire in all leagues.

Grant Hill returned to action on Tuesday January 22.

Grant Hill will be a healthy scratch Monday as the Clippers play the first game in a back-to-back.

This will be the norm going forward and even Hill admitted he's got a ways to go before he's back to normal. Given his health, limited minutes and small role, Hill can and should be ignored in almost all formats.

Grant Hill admitted that he's got a ways to go before he's fully back to where he'd like to be.

Hill said that the timing is not coming back quickly and he's not in a rhythm, but we're not surprised considering Hill is 40 years of age. "I just have to remind myself to remain patient," he said. "But I'm still a little out of sorts." Hill should eventually work his way into better shape, but it's a reminder that he can be ignored in most fantasy formats.

Grant Hill scored eight points on 3-of-5 shooting with four rebounds, four assists, and one block in 17 minutes off the bench on Monday.

The game was out of hand it gave Hill a chance to get some extra minutes, but we need to see more before we'll recommend him in most formats.

Grant Hill scored two points with two rebounds in six minutes in his debut against the Magic on Saturday.

He had to warm up on a stationary bike before entering the game in the third quarter. Hill is going to have a tough time doing much for a rotation that is pretty much set and we'd leave him on the wire in all leagues.

Grant Hill (knee) will make his season debut against the Magic on Saturday.

The 40-year-old forward is going to be eased into back into the rotation and the Clippers are likely to handle him with kid glove due to his vast injury history. The Clippers rank second in the NBA in bench scoring as a unit behind San Antonio and we'd leave Hill on the wire in all but the deepest of leagues.

Grant Hill (knee) is listed as a game-time call for Saturday's game against the Magic.

Hill is nearing his season debut, but it won't move the needle in the Clippers' rotation too much. They have the league's best record at 28-8 while getting spectacular second-unit wing play from Jamal Crawford and Matt Barnes.

Grant Hill's (knee) availability for Saturday will be determined by how he does in practice over the next couple of days.

Hill's going to be a non-factor in fantasy leagues as he looks to pick up the scraps behind Caron Butler, Matt Barnes and Jamal Crawford, but it's nice to see that he's closing in on finally debuting.