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 Entertainment

It’s been 30 years since ‘The Cosby Show’ debuted

cosby

Here are some of our favorite moments from one of America's favorite TV families.

in Music

WATCH: Dan Rather interviews Jack White

14-overlay

Sitting down with legendary newsman Dan Rather, the rocker talks about everything from music to being misunderstood.

in Entertainment

Jennifer Garner’s life ‘too boring’ for Instagram

jennifer

The "Dallas Buyers Club" actress is adamant she won't join her husband, actor Ben Affleck, on Twitter either.

in Music

Slipknot frontman opens up about Joey Jordison’s departure

jordison

Jordison left the band in December, 18 years after he joined the group.

in Music

U2 teams up with Apple again – this time to stop piracy

u2

Bono says the group is working with the tech giant to develop a new file format that cannot be copied.