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Originally published May 23, 2014 at 10:37 AM | Page modified May 23, 2014 at 12:33 PM

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AP Source: Sterling surrendering Clippers control

Donald Sterling has agreed to surrender his stake of the Los Angeles Clippers to his wife, and she is moving forward with selling the team.


Associated Press

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Wow indeed! I guess $1 Billion is a nice parting gift. MORE

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LOS ANGELES —

Donald Sterling has agreed to surrender his stake of the Los Angeles Clippers to his wife, and she is moving forward with selling the team.

A person with knowledge of the negotiations told The Associated Press Friday that the couple made the agreement after weeks of discussion. The individual wasn't authorized to speak publicly about the agreement.

Shelly Sterling is working to resolve the dispute amicably but wants to "have meaningful control" over the transaction.

Commissioner Adam Silver banned Donald Sterling for life and fined him $2.5 million because of racist comments. The league has charged him with damaging the league and its teams.

Team owners are moving forward with a vote on whether to terminate his ownership. Sterling has until May 27 to respond.



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