The league received the letter last week, before Sterling responded yesterday to the NBA's demand for a sale. He called the forced sale illegal, and claimed his racist comments, taped by his mistress, couldn't be used against him because they were part of a private conversation.
Sterling's estranged wife, Shelly, has brought in Bank of America to help sell the Clippers, ABC reported. After the scandal, Donald Sterling signed the team over to her. One source told ABC the asking price will be at least $1 billion, although the bidding process hasn't actually started yet.
Six serious bidders have expressed interest, including former Microsoft CEO Steve Ballmer. Several unserious bidders have also come forward—looking at you, Malcolm in the Middle's Frankie Muniz—and, somewhere in between, there's Magic Johnson.
[Photo: AP Images]