Donald Sterling agreed to sell the Los Angeles Clippers for $2 billion and drop his lawsuit against the NBA on June 4, per multiple reports.
Sterling has agreed to the $2-billion sale of the team which his wife, Shelly, negotiated, per The Los Angeles Times' James Rainey:
"Donald Sterling has agreed to go along with the $2-billion sale of the Clippers negotiated by his wife, Shelly, in an agreement that will also lead the NBA to drop its administrative charges against the longtime team owners, Sterling's attorney said Wednesday afternoon.
"As recently as Tuesday, attorney Max Blecher said Sterling was considering suing his wife to contest her takeover of the family trust that controls the franchise. But Sterling suggested in an interview with NBC4 later Tuesday that he might agree to let the record-setting sale go through.
"Sterling will agree to drop his $1-billion antitrust lawsuit against the NBA and the league in turn will agree not to file any lawsuits against Sterling and to drop the charges it levied against him for racially inflammatory remarks made by the Clippers owner that were posted online in late April.
"A nearly six-week battle over the allegations and the future of the Clippers came to an apparent end last week, when former Microsoft Chief Executive Steve Ballmer bid $2 billion for the team, nearly four times the previous high price for an NBA franchise.
"The tech billionaire hoped to close the deal as early as next month, though it remained unclear until Wednesday whether Sterling, 80, would sign off on the deal.
"Shelly Sterling, 79, had said that she assumed sole control of the Clippers after two neurologists determined that her husband was not mentally capable of handling his own business affairs.
"Blecher had vehemently disputed that characterization and said he might go to court to fight for Donald Sterling's right to continue as controlling owner of the franchise."
Sterling agreeing to sell the Clippers and dropping the lawsuit against the league was also confirmed by Blecher in an e-mail to ESPN's Ramona Shelburne.
Once Ballmer's bid is approved, the NBA's Board of Governors will then vote on the sale of the Clippers, per ESPN:
"Once the NBA approved Ballmer's bid to buy the Clippers on Friday, a hearing to determine Donald Sterling's future was canceled. Instead, the NBA Board of Governors will vote on the deal agreed upon by Shelly Sterling and Ballmer, who bid $2 million for the team.
"Donald Sterling will still be banned from the NBA for life, according to a source.
"Shelly Sterling, as part of a settlement with the league, and a condition of the sale to Ballmer, had indemnified the NBA against future legal action by her husband, especially meaning that even if he won the lawsuit, the Sterling Family Trust -- which she controlled after he was found by neurologists to be mentally incapacitated -- would pay the damages.
"The NBA has set no timetable for a vote to approve Ballmer, but he is expected to easily be accepted by 3/4ths of the other 29 owners."
In another development, Clippers guard Chris Paul and forward Blake Griffin made the All-NBA team as announced by the league on June 4.
Paul made the first team for the fourth time while Griffin made the second team.