Disgraced Los Angeles Clippers owner Donald Sterling, who was outed as a racist when 31-year-old sugar baby V. Stiviano released covert recordings of his racist rants, has agreed to the forced sale of his LA Clippers NBA franchise.
V. Stiviano, the recipient of lavish gifts from sugar daddy Sterling who claims he was intimate with her, set in motion a huge backlash against Sterling when she released the recordings to TMZ last month. It triggered the NBA to ban 80-yr-old Sterling from all things NBA, including owning the Clippers.
Sterling agreed Wednesday to sign off on selling the team to ex-Microsoft CEO Steve Ballmer for a record $2 billion. He has also agreed to drop the billion dollar law suit he filed against the NBA alleging the NBA violated his constitutional rights, saying he is ready to move on with his life through his attorney Maxwell Blecher. The deal was negotiated by his estranged wife Shelly.
Both the NBA and representatives for Shelly Sterling declined to comment.
Ballmer beat out bids by Guggenheim Partners and a consortium that included former NBA All-Star Grant Hill. In a personal visit to Shelly Sterling’s Malibu home last week Balmer laid out his vision for the Clippers that swayed her to accept his bid.
The Clippers will be a hefty return on investment for Sterling, who paid about $12 million for the Clippers in 1981.