News

Bank of America hired to sell L.A. Clippers

Bank of America hired to sell L.A. Clippers

CLIPPERS CONTROVERSY: Shelly Sterling, pictured here at a Clippers game with her attorney, has begun negotiating with the NBA to sell the team. Photo: Associated Press

By Ronald Grover

(Reuters) – Bank of America, hired over the weekend to sell the Los Angeles Clippers, has begun contacting potential buyers for the National Basketball Association (NBA) franchise, according to two people with knowledge of the contacts.

Clippers owner Donald Sterling, banned from the NBA for racist remarks, handed controlling interest in his team to his wife, Shelly Sterling, the co-owner, and she has begun negotiating with the league to sell the club, Reuters reported on Friday, citing sources.

John Yiannacopoulos, a spokesman for Bank of America, did not return a phone call and email.

PHOTOS: Banned from sports

The NBA has scheduled a hearing for June 3, when Donald Sterling can address the charges to his fellow owners. The league could vote to terminate his ownership of the franchise, which would take a vote by 23 of the other 29 owners, the NBA said in a May 19 press release.

NBA Commissioner Adam Silver said last week he would prefer to let the Sterlings sell the team “on a reasonable timetable” rather than proceed with trying to forcibly terminate their ownership.

The family is said to want at least $1 billion for the team. At least six bidders have contacted Shelley Sterling about buying the team, according to ESPN.

Donald Sterling, controlling owner of the Clippers for 33 years, came under fire when TMZ.com posted an audio recording of him berating a female friend for publicly associating with black people, including NBA great Earvin “Magic” Johnson.

Bloomberg earlier reported news of Bank of America’s hiring.

(Reporting by Ronald Grover; editing by Julian Linden)

Recent Headlines

in National

Visitors to NYC’s World Trade Center can ‘see forever’

worldtradeobservatory

The center's new observatory opens Friday, offering spectacular views stretching 50 miles past the Manhattan skyline to the Atlantic Ocean.

in Sports

Hall of Famers join celebs for All-Star softball game

snoopdogg

Hollywood stars will be at bat for the MLB All-Star Legends and Celebrity softball Game.

in Sports

NBA: Top players, plays of the season

20-overlay6

A look at some of the most memorable moments of the regular season.

in National

Egg prices jump as impact of bird flu begins pinching supply

eggs

The price of eggs has risen by as much as 58 percent, as farmers battle a bird flu that has killed millions of hens.

in Election 2016, National

Republicans looking for a few good ‘losers’ in 2016

republicancandidates

As the next presidential election cycle begins the goal isn't necessarily to win every race, but to improve the performance of the Republican ticket overall.