Disgraced billionaire Donald Sterling officially announced Wednesday that he and his wife Shelly have agreed to sell the Los Angeles Clippers to former Microsoft CEO Steve Ballmer.
The NBA officially supports the sale, but its board of governors will still need to vote to approve the terms of the agreement, which would have Ballmer pay the Sterlings $2 billion, plus provide them with "various additional benefits," according to Southern California's NBC 4.
"I feel fabulous, I feel very good. Everything is just the way it should be, really. It may have worked out differently, but it's good. It's all good," Sterling told the network.
At $2 billion, Ballmer would be paying far more than the Clippers' estimated value just a few months ago. Sterling bought the team in 1981 for $12.5 million. He'll make a 15,900 percent return on his investment, estimated the New York Times.
It is not yet known whether or not Sterling will drop a billion-dollar lawsuit against the league, ESPN reported.
He does still face a lawsuit filed by a female former employee who said that he released a "steady stream of racially and sexually offensive comments" against her while she worked for him and that the two were involved in a romantic relationship, according to court documents cited by ESPN.
Sterling has been under intense scrutiny ever since a recording emerged of him making racist comments to ex-girlfriend V. Stiviano, who was allegedly beaten up in New York City this past weekend by two men, one of whom has since been charged with hate crimes for the attack, according to CNN.