Former Time Warner head Richard Parsons named Los Angeles Clippers CEO

Mark D. Smith-USA TODAY Sports

The former Time Warner and Citigroup CEO is the NBA's choice to run the team in the interim as a new owner is identified.

SB Nation 2014 NBA Playoff Bracket

As the NBA tries to move the Los Angeles Clippers forward without Donald Sterling, the first step was to find a new CEO. It appears the search has been completed.

The league also announced the news.

Parsons will oversee team activities to help maintain some sort of stability as the league looks for someone to purchase the club. Parsons has a diverse background in business. He is the former chairman of Time Warner and Citigroup, and he currently is on the board of directors for the Commission on Presidential Debates and the Madison Square Garden Company. He has also held posts with Barack Obama's campaigns.

While he has no experience with basketball front offices, Parsons played basketball at the University of Hawaii. The debate over the next ownerships group continues, with Magic Johnson and Oprah among the potential buyers.

While Sterling has officially been banned from attending any NBA events, he has not yet lost his ownership of the team, since the league's owners still need to vote on whether they want to make him sell the franchise. Then, the process of finding a new owner can begin. Further complicating matters, Sterling's wife Shelly reportedly does not want to give up her 50-percent share in the team.

SIGN UP FOR OUR NBA NEWSLETTER

Get news, links and Ziller's #hottakes in your inbox every weekday morning.

More from SBNation.com

Latest News

X
Log In Sign Up

forgot?
Log In Sign Up

Please choose a new SB Nation username and password

As part of the new SB Nation launch, prior users will need to choose a permanent username, along with a new password.

Your username will be used to login to SB Nation going forward.

I already have a Vox Media account!

Verify Vox Media account

Please login to your Vox Media account. This account will be linked to your previously existing Eater account.

Please choose a new SB Nation username and password

As part of the new SB Nation launch, prior MT authors will need to choose a new username and password.

Your username will be used to login to SB Nation going forward.

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.