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. Sterling bought the Clippers for $12.5 million in June 1981, according to some reports, and he'll get a tidy 15,900 percent return over 33 years, an annualized rate of 16.6 percent. How did the 33-year tenure of Clippers owner Donald Sterling come to an end? The Los Angeles Clippers topped the Warriors 113-103 Tuesday, taking a 3-2 lead in a series overshadowed by the scandal surrounding Donald Sterling. V. Stiviano aka Maria Vanessa Perez was L.A. Clippers' owner Donald Sterling's mistress when she recorded him making racist remarks about Magic Johnson. On Tuesday, the NBA is set to hold a hearing that could strip Sterling of his ownership of the team.Now, there are reports that former Microsoft CEO Steve Ballmer signed a binding agreement to buy the team for $2-billion. Apr 29, 2014. The real trial, of course, is already over. Chris Paul of the Los Angeles Clippers tosses a basketball to team owner Donald Sterling during a game against the Houston Rockets at Staples Center on February 13, 2013 in Los Angeles. The team . The Los Angeles Clippers topped the Warriors 113-103 Tuesday, taking a 3-2 lead in a series overshadowed by the scandal surrounding Donald Sterling. "My promise," said the billboards, emblazoned with the name Donald T. Sterling, "I will make . RIVERS DOESN'T LIKE to spend much time reflecting on Donald Sterling and why it took 30 years of misbehavior to finally get him out of the league. That's 160 times the amount Sterling paid for the team, or equal to a gross, pretax return of 15,900 percent. Donald and Shelly Sterling are about to get a huge payday. Hours before, Clippers owner Donald Sterling had been banned for life from the NBA for racist remarks revealed over the weekend. Disgraced Clippers owner Donald Sterling launched into an extended tirade against Magic Johnson in an interview with CNN, saying that the Lakers legend should be "ashamed" of being HIV-positive . He bought the Clippers . By Satchel Price May 30, 2014, 11:39am EDT Therefore its in his best interest and the best interest of the league to tell him to sell the team (if that's what the board of governors decide). In short, Sterling could easily lose $20 million to $50 million next year if sponsors and fans flee the Clippers as a result of his recent actions. Donald Sterling said in court testimony that he is fighting a $2 billion deal to sell the Clippers because he believes the basketball team will be worth more money once its television contracts . In addition to giving L.A. Clippers owner Donald Sterling a hefty fine and a lifetime ban, the NBA is hoping to force him to sell the team, a move legal analysts say could have unintended . I believe Donald Sterling should sell the Clippers ASAP! Shelly Sterling gleefully reacts to Monday's verdict saying that she had the authority to sell the Los Angeles Clippers, the NBA team owned by estranged husband Donald Sterling. Team owner Donald Sterling (2nd left) of the Los Angeles Clippers and V. Stiviano watch the San Antonio Spurs play against the Memphis Grizzlies during Game One of the Western Conference Finals of . But hours before news of the deal broke, Sterling's attorney, Max Blecher, spoke to Wolf . The settlement ended. Donald Sterling can continue to own the Clippers if he wants. Sterling paid $12.5 million for the Clippers in 1981. Sterling purchased the Clippers in 1981 for a mere $12 million, and Forbes recently estimated the team's total value at $575 million. Donald Sterling May Not Want To Sell the Clippers to Steve Ballmer For $2 Billion, But Stirling and His Heirs May Be Very Happy With the Tax Savings. In fact, he's. In fact, Sterling could sell his team for more than double the. Los Angeles Clippers owner Donald Sterling, center, and V. Stiviano, left, watch the Clippers play the Los Angeles Lakers during an NBA preseason basketball game in Los Angeles on Monday, Dec. 19 . Los Angeles Clippers owner Donald Sterling is fighting to keep his team, despite a deal with his wife to sell the club after being charged by the NBA for his recorded racist comments.. After sending a 32-page response to the league ahead of his hearing next week, Max Blecher, Sterling's lawyer, told ESPN that the 80-year-old "is going to fight to the bloody end" and has no intention to . EXCLUSIVE: Magic Johnson Suggests Donald Sterling Should Sell Clippers After Alleged Racist Remarks By Jim Hill April 26, 2014 at 6:25 pm Filed Under: Donald Sterling , Jim Hill , Los Angeles . Los Angeles — When Shelly Sterling was approached by former Microsoft CEO Steve Ballmer about buying the Los Angeles Clippers, the wife of disgraced team owner Donald Sterling did not know who . A Los Angeles Superior Court ruled in Shelly Sterling's favor last month after combative testimony in which Donald Sterling vowed that he would "never, ever sell" the team. Los Angeles Clippers co-owner Shelly Sterling is "moving quickly" to sell the embattled NBA franchise, with a source familiar with the situation saying she and her representatives would like to . But it turns out that might be exactly what he wanted. We know Stiviano is extremely upset that the Clippers and Donald Sterling publicly embraced a lawsuit filed by Sterling's wife Shelly against Stivianio, claiming she stole $1.8 million from Donald. Donald Sterling, the 80-year old owner of the LA Clippers, who has owned the team since 1981, longer than any other current owner. On April 29, NBA Commissioner Adam Silver made an enormous public statement by banning Los Angeles Clippers owner Donald Sterling for life and calling on the other 29 team owners to vote him out . Donald Sterling called NBA owners hypocrites . Donald Sterling's affair with the girl who exposed him as a racist wasn't 'his first rodeo' and the LA Clippers owner's wife is the person 'least fooled and least affected by his . Donald Sterling's lawyer says t he Clippers owner has a guillotine over his head. Sporting News. The Los Angeles News Group obtained a transcript of Donald Sterling's court appearance on Tuesday, July 9, arguing that Shelly Sterling does not have the right to sell the Los Angeles Clippers . Reported and hosted by Ramona Shelburne. Throughout the 80s and 90s, the Clippers were horrible and Donald Sterling was known as the worst owner in sports. He purchased the Clippers for $12 million and today, Forbes values the team at $430 million. Let's take a look at the key events of the past few weeks. The NBA came down hard on Donald Sterling today. Shelly Sterling, the estranged wife of L.A. Clippers owner Donald Sterling, says she believes she is legally entitled to retain ownership of the team that the NBA wants her husband to sell. Donald Sterling was reportedly declared "mentally incapacitated" by experts, which allows Shelly Sterling to sell the Clippers without his approval, per the terms of their trust. Shelly Sterling gleefully reacts to Monday's verdict saying that she had the authority to sell the Los Angeles Clippers, the NBA team owned by estranged husband Donald Sterling. A lifetime ban from the NBA and a $2.5 million fine won't significantly hurt Los Angeles Clippers owner Donald Sterling's net worth. Source: Flickr / Noize Photography. As a result of his grotesquely racist comments, the league banned the Clippers owner for life and fined him $2.5 million, the maximum allowed under . There are several groups interested in taking over a growing, successful NBA franchise. A potential boycott of Tuesday night's NBA playoff games by players was averted after the NBA threw the book at Los Angeles Clippers owner Donald Sterling, banning him for life, fining him $2.5 . The seeming contradictions during his decades of team ownership are as much a reflection of who he is . The sale of the Clippers to former Microsoft CEO Steve Ballmer was approved for $2-billion on Wednesday. In this photo taken on Friday, Oct. 25, 2013, before he was banned from basketball, former Los Angeles Clippers owner Donald Sterling, right, and V. Stiviano, left, watch the Clippers play the . Donald Sterling wasn't in a courtside seat Sunday afternoon, where he would've had an up-close view of what his coarse words and corrosive opinions did to his Los Angeles Clippers. Discrimination lawsuits By the end, their cash offer from Ballmer was so large Sterling found it ridiculous. So, well, "Exit Strategy for NBA Donald Sterling: Sell Clippers to Magic Johnson." Damn it, I was gonna make a move on 'em. Everyone had a comment about the racist statements made by Donald Sterling. When given the choice of that or taking $575. In short order, NBA commissioner Adam Silver slammed Sterling with an unprecedented lifetime ban for his remarks, imposed a $2.5 million fine, and began the process to force a sale of the Clippers. But they won't play any NBA teams and won't be part of the National Basketball Association. With a compound-annual return of more than 16.6 percent at that selling price, Sterling's Clippers rank right up there with many of recent and even distant history's famously winning bets. NBA Commissioner Adam Silver announced on Tuesday that he would ask the league's . Nobody with the Clippers likes to reflect much on . The focus now turns to whether Sterling will sell the team . I guess I just got outflanked here. Donald Sterling was born Donald Tokowitz sometime around 1933. NEW YORK -- Los Angeles Clippers owner Donald Sterling has been banned for life by the NBA in response to racist comments the league says he made in a . Los Angeles Clippers head coach Doc Rivers opened up about a number of topics during an interview with NBA on TNT's Ernie Johnson on Monday, including the fact that he was "blindsided" by former . Vanessa Stiviano , Sterling's 31-year-old girlfriend. The NBA came down hard on Donald Sterling today. It'll be a huge win for the acquirer of that deal. Donald Sterling: 'I will never ever sell' the Clippers. His actual age is a mystery (he's believed to be 80 or 81). Ironically,. In 2017, a judge ruled that two law firms could move forward with their lawsuit to collect more than $270,000 in legal fees allegedly owed by Donald and Shelly Sterling, stemming from the 2014 probate action that cleared the way for the sale of the Clippers. As a result of his grotesquely racist comments, the league banned the Clippers owner for life and fined him $2.5 million, the maximum allowed under . LOS ANGELES — The third day of the probate trial of Los Angeles Clippers owner Donald Sterling vs. his wife, Shelly, included the strange . "This is all about the sale of the . The only son of an immigrant produce peddler in Chicago , Sterling moved to the Boyle Heights section of Los Angeles, then a poor area of the city, at age 2. April 26: A Clippers employee told tells the investigator retained by the NBA that the employee spent much of the day in a San Francisco hotel room with Donald and Shelly Sterling. Then on Tuesday April 29, 2014, NBA commissioner, Adam Silver banned Sterling from the NBA, imposed a fine of 2.5 million dollars, and that he would endeavor to force Mr. Sterling to sell the LA Clippers team. The Clippers . Former Microsoft CEO Steve Ballmer is set to purchase the Clippers at $2 billion. The potentially frothy bidding to purchase the Los Angeles Clippers began Wednesday with at least three offers submitted to Rochelle Sterling, whose husband, Donald, has been barred for life by . If Donald Sterling does sell the Los Angeles Clippers, he will find many wealthy buyers and likely a huge payday. If the team is sold for $1 billion, there would be approximately $329 million in federal and state capital gain taxes, according to Sports . "Donald Sterling officially announces today, the NBA and Donald Sterling and Shelly Sterling have agreed to sell the Los Angeles Clippers to Steve Ballmer for $2 billion and various additional . Both take an . After Sterling bought the San Diego Clippers in 1981, his picture popped up on billboards around town. Sterling responded . ESPN.com news services. In his first appearance in a trial that may determine ownership of the Los Angeles Clippers, a combative Donald Sterling gave a packed room everything it could have expected.He sparred with noted a… Shelly Sterling, the wife of disgraced Clippers owner Donald Sterling, said recently she intends to try and keep ownership of the team in the family. Los Angeles Clippers owner Donald Sterling has no intention of selling the team and "is going to fight to the bloody end," his lawyer, Max Blecher told ESPN on Tuesday. If you believe Magic Johnson . Did Donald Sterling orchestrate the largest franchise sale in NBA history? But consider the recent purchase price of two relatively . / new May 29, 2014 Mr. Sterling bought the team for. The punishment meted out by NBA Commissioner Silver—the maximum league fine of $2.5 million—pales in comparison to the billion dollars Sterling stands to make from selling the Clippers. About two weeks from when I write this, on the third of June, L.A. Clippers owner Donald Sterling will be hauled in front of the NBA owners and commissioner and put on trial for being a racist. OAKLAND (CBS/AP) — The Los Angeles Clippers are making a silent protest of owner Donald Sterling's purported comments urging a woman to not bring black people to his team's games. Donald Sterling, who bought the team for $12 million in 1981 and was banned for life by NBA Commissioner Adam Silver five weeks ago, filed a $1 billion lawsuit against the league in U.S. District . Much attention has been devoted to Donald Sterling as the L.A. Clippers prepare to get sold. The Sterlings bought the Clippers in 1981 for $12 million. "Donald Sterling officially announces today, the NBA and Donald Sterling and Shelly Sterling have agreed to sell the Los Angeles Clippers to Steve Ballmer for $2 billion and various additional . The recordings were released by TMZ in . 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