The formal response, which was 32 pages in length, also claims that forcing the Sterling family to sell the team would result in an "egregious" capital gains tax bill while also stating offers to this point have come in north of $2.5 billion.
Sterling is facing a hearing on June 3 where NBA owners will vote to determine if they will go through with a forced sale.
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Meanwhile, his wife Shelly Sterling is committed to selling the team on her own terms, in which she could maintain some element of ownership stake. She's working to distance herself from her husband and sell to the league that she was only a witness and not privy to his actions.
Per the report, she met with former Microsoft CEO Steve Ballmer in order to discuss a potential offer, which was made as a result. Several other suitors have come to light in recent days amid talk of the team being up for sale.