The sale of the Los Angeles Clippers to former Mircrosoft CEO Steve Ballmer is now only pending approval from the NBA's Board of Governors after the resolution of a dispute over the rightful owner of the team, the NBA has announced. The resolution means the NBA termination hearing scheduled for June 3 has been canceled. Once the NBA Board of Governors approves the sale to Ballmer, the franchise will officially be his.
Mrs. Sterling and the Sterling Family Trust have also agreed not to sue the league and to indemnify the NBA against a potential lawsuit from Donald Sterling or others. That could put a wrap on this saga once and for all.
Ballmer reached an agreement with Shelly Sterling on Thursday to acquire the team for an NBA record $2 billion. Since the report of the agreement became public knowledge, Donald Sterling has done everything he could to fight for control of the franchise. It was reported that Donald Sterling planned on filing a $1 billion lawsuit against the NBA on Thursday for damages brought forth by the league's lifetime ban.
Sterling bought the Clippers in 1981 for $12.5 million. He was given a lifetime ban from commissioner Adam Silver in April after a recording of racist remarks surfaced on TMZ.