LOS ANGELES (CBSLA.com) – Donald Sterling has agreed to sign off on selling the Los Angeles Clippers to Ex-Microsoft CEO Steve Ballmer for a record price of $2 billion, according to his attorney Maxwell Bleacher.
Sterling, who gave his wife Shelly Sterling the right to negotiate the sale of the team, said he “has made an agreement with the NBA to resolve all their differences.”
Sterling has also dropped the suit of $1 billion against the NBA.
Last week, Sterling filed a suit in federal court alleging the NBA violated his constitutional right, basing information from an” illegal” recording by V. Stiviano.
With the sale pending, the NBA canceled the meeting that was set for June 3 in New York City with the NBA Board of Governors, according to a statement released by the NBA.
Just hours after the suit was filed, the NBA released another statement saying the lawsuit was predictable, but “entirely baseless,” said special NBA counsel Rich Buchanan. “Among other infirmities, there was no “forced sale” of his team by the NBA – which means his antitrust and conversion claims are completely invalid. Since it was his wife Shelly Sterling, and not the NBA that has entered into an agreement to sell the Clippers, Mr. Sterling is complaining about a set of facts that doesn’t even exist.”
Once the sale has been approved by the NBA board of Governors, Ballmer will be the richest owner in NBA history.
No word on when the NBA will finalize the deal.