LA Clippers Sale Not a Slam Dunk but Sterling's Wife Is Entertaining Bids

NEW YORK (TheStreet) -- The tawdry story of the Sterlings may be just about over, at least as far as the National Basketball League is concerned.

Shelly Sterling, who was given control of the team by her estranged and notorious husband Donald, is looking for a billion-dollar payoff for selling the Los Angeles Clippers. At the same time, her husband remains steadfast in denying he's a racist for comments recorded from a telephone conversation with his much-younger girlfriend.

According to the reports from a variety of sources including The Associated Press, "major players" with the considerable financial means to run a franchise in one of the nation's biggest cities continue to increase their bids for the Clippers.

The payoff to the Sterlings could be in the $1.5 billion to $2 billion range.

Prospective buyers received assurances Shelly Sterling wants to sell 100% of the team, which was an important condition for the NBA, according to ESPN.

The Sterlings' are said to be expediting the sale of the team before next week so they can be part of the negotiation process and, more important, reduce a massive capital gains tax liability.

The NBA Board of Governors is set to meet Tuesday and vote on whether both Sterlings' ownership interests could be terminated. If 75% of the league's owners vote to rescind the Sterlings' ownership group, then the Sterlings no longer can control the sale or the terms, although they would be entitled to the proceeds.

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