Los Angeles Business Journal

Report: Sterlings Offering to Sell Clippers

By Omar Shamout Friday, May 23, 2014

Los Angeles Clippers owner Donald Sterling has reportedly given the go-ahead for his wife Shelly to sell the NBA franchise.

An anonymous source told USA Today that Shelly Sterling has agreed to sell the team as long as she can keep hold of a minority stake. It’s unclear whether the NBA will agree to those terms.

League commissioner Adam Silver banned Donald Sterling for life last month following the release of an audio recording containing racist remarks. The NBA also ordered him to pay a $2.5 million fine.

The NBA plans to continue the process of terminating the Sterlings' ownership with a three-quarters vote of league owners. On Friday, NBA spokesman Mike Bass said:

“In response to reports about Donald Sterling surrendering controlling ownership of the Los Angeles Clippers, we continue to follow the process set forth in the NBA Constitution regarding termination of the current ownership interests in the Los Angeles Clippers and are proceeding toward a hearing on this matter on June 3.”

The NBA, which banned Donald Sterling for life on April 29, has said its move to terminate Donald Sterling's ownership would also terminate any other ownership interest in the team.

A knowledgeable source told USA Today Sports that Oprah Winfrey is still interested in putting together a bid with David Geffen and Larry Ellison. The source spoke on condition of anonymity because no other announcement was being made.