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

Making headlines this week

AP40816308032

A look at the big newsmaker this week and the headlines you may have missed.

in National

FedEx predicts increase in holiday deliveries

fedex

It's going to be another record-setting holiday season for shipments.

in National

Black Friday gun buys test background check system

guns

As stores crowd with holiday shoppers, gun buyers will be challenging the nation's background check system to keep up.

in Trending, Viral Videos

TODAY’S MUST SEE: ‘Friends of the Galaxy’ mashup

24-overlay2

If "Guardians of the Galaxy" was set to the "Friends" theme.

in Black Friday, National

PHOTOS: Macy’s Thanksgiving Day Parade

AP353037153391_2

The 88th annual Macy's Thanksgiving Day Parade stepped off in NYC, officially ushering in the holiday season.