The Los Angeles Clippers may be relinquished of the Sterling’s sooner than many expected.
According to TMZ, Donald Sterling has given his wife Shelley Sterling full control to negotiate the force sale of the Los Angeles Clippers. While neither Shelley or Donald Sterling have revealed how much of the team the are willing to sell, sources for ESPN state that the league will only accept Shelley Sterling’s sale if its for the entirety of the Los Angeles Clippers.
Donald Sterling currently has until this Tuesday (May 27th) to respond to the NBA’s charge towards him to sell the Los Angeles Clippers that was filed earlier this week. Under IRS law, if the Sterlings sold the team for $1 billion they would have to pay $328.5 million in taxes towards federal long-term capital-gains tax and California tax.