Sterling has dropped his $1 billion lawsuit against the NBA and agreed to sign off on the sale of the Los Angeles Clippers to former Microsoft CEO Steve Ballmer, according to a statement released Wednesday to NBC News by one of Sterling's attorneys.
The statement from attorney Bobby Samini says the Sterlings have agreed to sell to Ballmer for $2 billion "and various additional benefits."
"All disputes and outstanding issues have been resolved," Samini says.
Sterling's estranged wife and co-owner, Shelly, has agreed to the sale last week and the NBA approved it on Friday.
The league banned Donald Sterling for life and fined him $2.5 million last month over secretly taped racist comments and said it would encourage the league's other owners to force him to sell the team he bought in 1981.
More to follow...