Billionaire Donald Sterling Settles Lawsuit With The NBA Over Clippers Sale To Steve Ballmer
Billionaire Donald Sterling settled his lawsuit with the NBA over the $2 billion sale of the Los Angeles Clippers basketball team to fellow billionaire Steve Ballmer on Friday.
The settlement ended a two year legal battle between Sterling, whose net worth FORBES estimates at $3.4 billion, and the NBA. Sterling’s lawyer, Bobby Samini, told the Los Angeles Times in a statement, “Donald is pleased with the outcome and is looking forward to focusing on future endeavors.” The terms of the settlement were not disclosed.
In August 2014, Microsoft cofounder Steve Ballmer, who has a $28.5 billion fortune, purchased the Clippers for a record $2 billion, more than three decades after Sterling bought the team for $12 million. The sale occurred months after a tape came to light of Sterling making racist remarks about the Clippers to his then-mistress V. Stiviano. The NBA fined Sterling $2.5 million in April 2014 for his racist comments and banned him from the NBA for life. Sterling’s wife Shelly Sterling then alleged that her husband was mentally incapacitated, removed Sterling from the family trust and sold the team to Ballmer.
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