Attorney says Sterling agrees to $2 billion sale
Thu, 05 Jun 2014 02:58:23 GMT —
LOS ANGELES (AP) - The NBA has found a way out of the Donald Sterling situation.
An attorney for the embattled Los Angeles Clippers owner says Sterling has agreed to sign off on selling the team to former Microsoft CEO Steve Ballmer for what would be a record $2 billion, according to his attorney. Sterling bought the team for $12 million in 1981.
Sterling "has made an agreement with the NBA to resolve all their differences" and as co-owner has given his consent to a deal that was negotiated by his wife, Shelly Sterling, to sell the team, said attorney Maxwell Blecher.
Donald Sterling sued the NBA in federal court last week alleging the NBA violated his constitutional rights by relying on information from an "illegal" recording that publicized racist remarks he made to a girlfriend. It also says the league committed a breach of contract by fining Sterling $2.5 million and that it violated antitrust laws by trying to force a sale.
Blecher said the suit will be dismissed. If the NBA owners approve the sale, it will be a record-high sale for an NBA team.
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