The beleaguered owners of the Los Angeles Clippers, Donald and Shelly Sterling, have agreed to sell the basketball team to ex-Microsoft boss Steve Ballmer for $2 billion, and drop their legal action against the National Basketball association, Reuters has reported.
Former Microsoft CEO Steve Ballmer has won a bidding war for the NBA team LA Clippers with a $2bn (£1.2bn) offer, according to the LA Times.
Current owner Donald Sterling was forced to sell the Californian basketball team after being recorded making a series of racist comments.
Earlier reports had suggested that Oprah Winfrey had been interested in taking over the team.
Owners of US basketball teams have agreed to try to force the sale of the LA Clippers following the revelation of racists comments from owner Donald Sterling.
An advisory committee has agreed to "move forward" with steps to oust Mr Sterling, NBA executive vice president Mike Bass said.
The move may pave the way for a celebrity-backed bid to take over the franchise, with TV star Oprah Winfrey among high-profile figures who have expressed an interest in a buyout.
Oprah Winfrey is reportedly interested in becoming part of a group of wealthy buyers for the LA Clippers basketball team.
Talk show host and entrepreneur may join businessmen David Geffen and Larry Ellison in a bid if the current owner, Donald Sterling, is forced into a sale.
Mr Sterling has been banned from National Basketball Association games after he was recorded telling a friend not to bring "black people" to Clippers games.