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 Weird

Dallas woman accused in illegal butt injections surrenders

Needles

Dallas police say a woman accused of providing illegal buttocks injections has surrendered to authorities.

in Music

Iron Maiden frontman returns to public eye

In this photo made available on Sunday, Aug. 15, 2010, singer Bruce Dickinson performs during the concert of the English heavy metal band Iron Maiden at the Sziget (Island) Festival on the Shipyard Island in northern Budapest, Hungary, late Saturday, Aug. 14, 2010. The Island Festival is one of the biggest cultural events of Europe with an emphasis on music.

Iron Maiden's Bruce Dickinson makes his first public appearance since undergoing treatment for cancer.

in Entertainment, Weird

Balki’s bills: ‘Perfect Strangers’ star owes $280K in taxes, mortgage payments

pinchot

Bank officials say actor Bronson Pinchot hasn't been heard from in over a year.

in Music

Scott Stapp completes 90-day rehab stint

scottstapp

The Creed frontman has had a rocky couple of months but his bandmates say he's on the road to recovery.

in Music

Van Halen plan tour, live album

vanhalen

The band is back and ready to hit the road.