Los Angeles Clippers owner Donald Sterling has agreed to sell the team for 2 billion dollars to former Microsoft Corp chief executive Steve Balmer.
According to FOX News, the embattled owner of the Clippers will drop his 1 billion dollars lawsuit against the National Basketball Association, his lawyer, Maxwell Blecher, said on Wednesday.
The NBA had banned Sterling for life and slapped a 2.5 million dollar fine on him over racist remarks that he made in a taped recording.
The report said that last week, Sterling's estranged wife, Shelly Sterling, agreed to sell the franchise to former Microsoft Corp chief executive Steve Ballmer for 2 billion dollars.