The paper indicated former Microsoft chief executive Steve Ballmer made the pricey bid, though the deal is far from complete considering the circumstances surrounding the team's ownership.
The NBA previously announced a hearing for June 3 regarding embattled owner Donald Sterling and his lifetime ban from the league for his racially charged comments that were taped by a female acquaintance and sent to media outlets.
Sterling will be stripped of his ownership if a three-fourths majority votes to sustain the league's formal charge in next week's meeting of the Board of Governors.
Sterling has the right under the NBA constitution to make a presentation at the meeting.
The sale is reportedly being done by Sterling's wife and co-owner, Shelly Sterling, and Ballmer's offer, which nearly quadrupled the price the Milwaukee Bucks sold for ($550 million) earlier this month, wound up the winner.
Ballmer was part of a buying group that unsuccessfully tried to buy the Sacramento Kings and move them to Seattle last year.
If the deal goes through, Los Angeles will be the home of two franchises that were sold for at least $2 billion, as the Dodgers were purchased for $2.1 billion in 2012.