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

Jobless claims signal firmer labor market

Job seekers adjust their paperwork as they wait in line to attend a job fair in New York February 28, 2013.

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, suggesting the labor market continued to strengthen.

in National

Accused Boston bomber appears in court

In this courtroom sketch, Boston Marathon bombing suspect Dzhokhar Tsarnaev is depicted sitting in federal court in Boston Thursday, Dec. 18, 2014, for a final hearing before his trial begins in January. Tsarnaev is charged with the April 2013 attack that killed three people and injured more than 260. He could face the death penalty if convicted.

The Boston Marathon bombing suspect told a judge that he was satisfied with his lawyers' preparations for the January start of his trial over the deadly 2013 attack.

in Local

Some see gas as replacement for Vermont Yankee

Vermont Yankee

Leaders in Vernon are hoping a gas-fired power plant will be built to replace Vermont Yankee

in Local

UMass Chancellor Leaving

UMass Amherst

UMass President Robert Caret is leaving to become chancellor at the University of Maryland

in Local

Narkewicz To Seek Five Liquor Licenses

nark inauguration

The mayor of Northampton wants to ask the state legislature for five more liquor licenses