The deadline to bid on the Los Angeles Clippers passed at 2 p.m. Wednesday.
According to the Sports Business Journal, the bidding term sheet required a $300 million deposit.
Although Donald Sterling’s formal response to the NBA on Tuesday asked that he not be terminated as Clippers owner — followed by his attorney’s vow to ESPN to “fight to the bloody end” — his wife Shelly Sterling is proceeding with a sale.
Her attorney Pierce O’Donnell said in a statement Tuesday night that she is managing the sale of the team with written consent from her husband.
Multiple reports indicate that Donald Sterling had sent another letter to the NBA on May 22, saying that he had empowered Shelly to sell the franchise they have owned since 1981. However, the league has never approved Shelly Sterling as a controlling owner.
The NBA advisory-finance committee also met again on Wednesday via conference call to discuss Donald and Shelly Sterling’s responses to the charge to terminate their ownership of the Clippers.
“These documents, along with the charge, were distributed to the NBA Board of Governors, which will meet on June 3 at 1 p.m. in New York City to hear and vote upon this matter,” league spokesperson Mike Bass said in a statement.
A three-fourths majority vote by the board would terminate Sterling’s stake in the team.