Kevin O'Leary calls Donald Sterling a 'very smart man'

, Last Updated: 1:10 PM ET

Canadian TV personality Kevin O'Leary told TMZ he thinks disgraced former L.A. Clippers owner Donald Sterling is a "very smart man."

A reporter asked the Dragon's Den and Lang and O'Leary Exchange star a question about whether he thinks Boston sports teams are a good investment.

"I think sports teams are based on losing money while you own them and hoping somebody else pays a lot more later - that has certainly been the truth," the Shark Tank business guru said.

"I mean the Sterling situation really accentuates that," O'Leary added, noting Sterling will make a huge profit after being forced to sell the team by the NBA.

The Clippers were bought for $2 billion by former Microsoft heavyweight Steve Ballmer weeks after a tape of Sterling making racist comments surfaced.

Watch the video to hear the rest of O'Leary's comments.