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.
The National Basketball Association said that it has reached an agreement with Shelly Sterling to sell the Los Angeles Clippers to former Microsoft Corp Chief Executive Officer Steve Ballmer, pending approval of the league's owners.
As a result of the settlement, the league cancelled its June 3 hearing and vote to strip Donald Sterling of Clippers' ownership. The NBA has banned Sterling for life and fined him $2.5 million for racist remarks.
Donald Sterling, the embattled owner of basketball's Los Angeles Clippers, will sue the NBA for $1 billion (£596,801,145) in damages over the termination of his ownership, his lawyer, Maxwell Blecher told Reuters.
It is not clear when the lawsuit would be filed. His estranged wife, Shelly Sterling, said she reached a deal to sell the team to former Microsoft Corp chief executive Steve Ballmer for $2 billion.
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.
The owner of the LA Clippers basketball team has been banned from the NBA for life after being found guilty of making racist comments.Read the full story ›
Jason Collins has made his debut for the Brooklyn Nets, becoming the first openly gay player to play in a competitive game in the NBA.
Collins, 35, received a warm welcome from the crowd as he entered the match against the Los Angeles Lakers.
Earlier, Collins said he was too busy focusing on his game to worry about making history despite the media spotlight.
NBA player Jason Collins signed a contract with the Brooklyn Nets, becoming the first openly gay athlete in a major US sports league.Read the full story ›
US President Barack Obama has told US basketball player Jason Collins that he "couldn't be prouder of him" for coming out as gay while playing in a major sports league.
Obama says Collins highlights the progress the United States has made in recognising that people of all sexual orientations are equal.
I told him I couldn't be prouder of him. One of the extraordinary measures of progress that we've seen in this country has been the recognition that the LGBT (lesbian, gay, bisexual and trans-gender) community deserves full equality, not just partial equality.
An individual who has excelled at the highest levels in one of the major sports to go ahead and say that 'This is who I am. I'm proud of it. I'm still a great competitor. I'm still seven foot tall and can bang with Shaq.' [retired US basketball star, Shaquille O'Neal].
The aunt of the basketball player Jason Collins - the first openly gay NBA player - has said she is very proud of his decision to come out.
Judge Teri L Jackson told the Associated Press that he comes from a long line of trailblazers,