Former Microsoft executive signs deal to buy Clippers for $2B

By Michelle Kapusta,

Former Microsoft CEO Steve Ballmer has reached an agreement to buy the Los Angeles Clippers for $2 billion.

CNN noted that Donald Sterling’s estranged wife, Shelly, confirmed the news on Friday.

Plans of the sale were reported on Thursday evening.

Sterling said that she was acting under her authority as sole trustee of the Sterling family trust when she negotiated with Ballmer.

NBA Commissioner Adam Silver banned her husband for life after he was heard in a phone conversation making racist remarks. His lawyers have vowed to fight any sale of the basketball team.

The deal must still be approved by the league and Ballmer must be approved by three-fourths of the owners.

Under the sale agreement, Ballmer, who is worth an estimated $20 billion, will own 100 percent of the team.

"I love basketball. And I intend to do everything in my power to ensure that the Clippers continue to win -- and win big -- in Los Angeles," he said in a statement.

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