Former Microsoft chief executive Steve Ballmer will buy the Los Angeles Clippers for a record price of $2 billion, according to the Los Angeles Times.
Ballmer was chief executive of Microsoft for 14 years. He was competing with several other groups to buy the team.
The $2 billion sale price is almost four times more than the previous NBA franchise price. The previous record was set earlier this month for the Milwaukee Bucks.
The Times reported that the price is ”second only to the Dodgers 2012 sale for $2.1 billion as the highest price for any sports team in North America.”
On Wednesday, a person with knowledge of the negotiations told The Associated Press that Shelly Sterling was reviewing bids from five groups interested in buying the Los Angeles Clippers.
The individual, who wasn't authorized to speak publicly about the deal, said if an agreement to sell is reached before next Tuesday, the league's owners wouldn't meet in New York to vote on terminating Donald Sterling's ownership.
The individual wouldn't specify the interested buyers, but described them as major players with considerable financial means. The person told the AP the sale price "appears to be increasing to an unbelievable number," and that it could soar past $1.5 to $2 billion, and possibly more.
Another person familiar with the negotiations said Shelly Sterling's attorneys, bankers and others involved in the process were in a locked room reviewing the bids, which were due by 2 p.m. PDT Wednesday. The individual wasn't authorized to publicly discuss the sensitive and competitive negotiations.
The Associated Press contributed to this report.