Proposed $2 billion sale of Los Angeles Clippers

06/04/2014 4:21 pm0 commentsViews: 14

LOS ANGELES (CNS) – Los Angeles Clippers owner Donald Sterling will sign
off on the proposed $2 billion sale of the team to former Microsoft CEO Steve
Ballmer and will drop the lawsuit he filed against the NBA alleging he was
forced being forced to unload the franchise, his attorney said today.
Sterling filed a $1 billion lawsuit in U.S. District Court in downtown
Los Angeles last week, alleging breach of contract and anti-trust and civil
rights violations by the NBA, which has banned him for life and fined him $2.5
million over racially charged remarks he made in a recorded conversation with

Donald Sterling Protest at Staples Center Photo by Gary McCarthy

Donald Sterling Protest at Staples Center
Photo by Gary McCarthy

companion V. Stiviano.
But Sterling’s attorney, Max Blecher, said today Sterling will sign off
on the sale, telling NBC News that the embattled Clippers owner had resolved
all issues with the NBA.
The league still must approve the sale of the team to Ballmer. A
timeframe for that approval process was not immediately known.
On Friday, the same day Sterling filed his lawsuit, the NBA announced
that it has resolved ownership questions surrounding the team and it canceled a
planned vote by the league’s Board of Governors on whether Sterling should be
ousted as an owner.
According to the NBA, the league and the Sterling Family Trust — the
formal owner of the Clippers — had reached an agreement under which the trust
and Sterling’s wife, Shelly, agreed not to sue the league. Under the agreement,
the trust also agreed to indemnify the NBA against “lawsuits from others,
including from Donald Sterling.”
In essence, the agreement meant that the Sterling Family Trust would
have to cover any damages incurred by the NBA in Donald Sterling’s lawsuit.


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