NBA: Donald Sterling agrees to sell Los Angeles Clippers

Donald Sterling has agreed to sell the Los Angeles Clippers for $2bn and will drop his lawsuit against the NBA.

The 80-year-old has been banned for life and fined $2.5m by the NBA for racist remarks that were leaked to the media in April.

His estranged wife, Shelly Sterling, last week agreed to sell the franchise to former Microsoft Corp chief executive Steve Ballmer for $2bn, an NBA record.

Sterling subsequently sued the NBA and league commissioner Adam Silver for at least $1bn in damages after claiming he was forced to sell the franchise based on a recording illegal under California law.

The matter has subsequently been resolved though and the sale looks set to go ahead.