USA Today has announced that embattled Clippers owner Donald Sterling will sell his team.
Although the complete terms of the deal have not been announced, reportedly the team ownership will be transferred to his wife, Shelly. Shelly Sterling will then go ahead with the sale at a later date to be determined. However, one condition of the sale has been revealed. Shelly Sterling must have a minority stake in the team.
This announcement comes ahead of the involuntary sale of the team by the NBA.
“Shelly Sterling’s preference has always been to find a way to resolve this dispute amicably with the NBA in a mutually satisfactory manner,” said Shelly sterling’s lawyer, Pierce O’Donnel.
Negotiations have been ongoing privately for several weeks, and apparently Sterling finally realized he had no option but to sell the team.
Stay tuned as this story develops.
