Breaking News: NBA announces settlement with Sterling Trust and calls off June 3 vote to oust Clippers owner

It appears that the Donald Sterling saga -- a sad legacy of incompetent, racist, and miserly ways that has plagued Los Angeles' NBA fans since the mid-1980's -- has officially come to an end.

All indications are that the Los Angeles Clippers have been sold to Steve Ballmer for a reported two billion dollars, according to multiple outlets.  Here is today's official press release from the NBA on the sale:

"The NBA, Shelly Sterling and the Sterling Family Trust today resolved their dispute over the ownership of the Los Angeles Clippers.  Under the agreement, the Clippers will be sold to Steve Ballmer, pending approval by the NBA Board of Governors, and the NBA will withdraw its pending charge to terminate the Sterlings’ ownership of the team. 

Because of the binding agreement to sell the team, the NBA termination hearing that had been scheduled for June 3 in New York City has now been cancelled.  Mrs. Sterling and the Trust also agreed not to sue the NBA and to indemnify the NBA against lawsuits from others, including from Donald Sterling."

Donald Sterling's lawyer has indicated that his client will likely sue the NBA, seeking one billion dollars in damages.  With the Sterling Trust agreeing to indemnify the NBA, it is a win-win situation for the league, as not only will Sterling's toxic presence be eliminated, but there will also be some measure of financial protection if the NBA were to lose in court.

By Staff of TheDailySportsHerald.com and news services