Donald Sterling has agreed to sell LA Clippers for $2 billion and drop his lawsuit against the NBA, his lawyer says.
Donald Sterling’s lawyer, Maxwell Blecher, told reporters his client had “made an agreement with the NBA to resolve all their differences”.
Former Microsoft chief executive Steve Ballmer is set to buy LA Clippers in a record sale.
Donald Sterling was fined $2.5 million and banned for life from the league after racist comments he made became public.
The NBA announced the ban and fine soon after an audio recording of Donald Sterling emerged in the US media in April, in which he was heard asking a woman not to associate in public with black people nor to bring them to games.
In a subsequent interview with CNN, he said he apologized for a “terrible mistake” and insisted he had been “baited” into making the remarks.
But last week he sued the NBA in federal court, alleging it had violated his constitutional rights by relying on information from an “illegal” recording.
He also sued for damages for the forceful termination of his ownership, but Maxwell Blecher said on Wednesday this lawsuit was now dismissed.
The other team owners in the league will vote on this proposed sale in mid-July, Donald Sterling’s legal team said.
If they approve the sale, it will be a record sum for a team that cost Donald Sterling about $12 million in 1981.
Last week, Steve Ballmer said in a statement he was honored to have his name put forward to the NBA for approval.
