Former Microsoft Corp chief executive Steve Ballmer has won the bidding war for the NBA’s Los Angeles Clippers franchise with a reported 1.5 billion euro ($2 billion) deal.
A trustee of the team’s owner announced the news.
They came up for sale when the NBA banned owner Donald Sterling for life after he appeared to make racist remarks during a recorded conversation.
Co-owner Shelly Sterling has announced she has signed a binding contract with Ballmer for him to take control of the Clippers.
Donald Sterling will have to approve the sale, as would the league owners.
To clinch the deal, Steve Ballmer outbid media mogul David Geffen, whose investors reportedly include TV celebrity Oprah Winfrey, as well as a group of Los Angeles investors.