Report: Clippers receive at least six serious bids for franchise
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.