June 05, 2014 06:35:15 GMT
Sterling's lawyer Max Blecher confirms that the businessman agrees to sell the NBA team to former Microsoft Chief Executive Steve Ballmer and drop the lawsuit against the organization.
Donald Sterling, who has been an owner of NBA team Los Angeles Clippers since 1981, has agreed to sell the team. His lawyer Max Blecher announced the decision to media on Wednesday, June 4. In addition to the sale announcement, Blecher said Sterling would drop his lawsuit against the NBA.
"Donald Sterling officially announces today, the NBA and Donald Sterling and Shelly Sterling have agreed to sell the Los Angeles Clippers to Steve Ballmer for $2 billion and various additional benefits," read a statement from Sterling's other attorney Bobby Samini, as quoted by USA Today. "All disputes and outstanding issues have been resolved." The sale still needs approval from the board of governors.
The drama surrounding Sterling started after a video of him making a racist rant during an argument with his girlfriend emerged online. The NBA then banned him for life and ordered him to pay a fine. They also wanted Sterling to drop his ownership on the team.
Last week, Sterling's estranged wife Shelly who co-owns the team reached a deal to sell the team to the former Microsoft Chief Executive. Shortly after Shelly's decision was announced, Sterling fought the attempt to terminate his ownership in the franchise.