Report: Clippers receive at least six serious bids for franchise

Monday May 26th, 2014

Donald Sterling's ownership of the Clippers could be coming to a end. (Johnny Vy/NBAE via Getty Images) Donald Sterling's ownership of the Los Angeles Clippers could be coming to an end. (Johnny Vy/NBAE via Getty Images)

The Los Angeles Clippers have received at least six serious bids from potential buyers who are interested in purchasing the franchise, reports's Ramona Shelburne.

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.

DEITSCH: The NBA media panel: A roundtable of voices around the league

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