Clippers owner Donald Sterling reached an agreement with his wife, Shelly Sterling, to help sell the franchise.
Sterling was banned for life and fined $2.5 million by the NBA last month after a recording with racist comments was leaked to the public. The league is scheduled to have a June 3 hearing that would terminate Sterling's ownership of the team.
The Clippers are valued at $575 million, according to Forbes, and could be sold for as much as $1 billion, but the Sterlings would have to pay substantial taxes if the team were sold.
Sterling bought the team for $13.5 million in 1981, when the franchise was based in San Diego, and moved the team to Los Angeles in 1984.