UPDATE: Shelly Sterling confirms contract to sell Clippers to fo - WKOW 27: Madison, WI Breaking News, Weather and Sports

UPDATE: Shelly Sterling confirms contract to sell Clippers to former Microsoft CEO for $2 Billion

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LOS ANGELES (AP) -- Shelly Sterling says she has signed a binding contract to sell the Los Angeles Clippers to former Microsoft CEO Steve Ballmer for a record-breaking $2 billion.  

Sterling confirmed the agreement made between The Sterling Family Trust and Ballmer in a statement issued late Thursday night.

The statement says she made the deal "under her authority as the sole trustee of The Sterling Family Trust, which owns the Clippers."

Shelly Sterling negotiated the sale after the NBA banned her husband for life and fined him $2.5 million for making racist remarks that became public.
  
Ballmer said in a statement that he loves basketball and will "do everything in my power to ensure the Clippers continue to win -- and win big -- in Los Angeles."

The deal would need to be approved by the NBA.
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AP Basketball Writer Brian Mahoney contributed to this report.
 
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LOS ANGELES (AP) -- An individual with knowledge of negotiations to sell the Los Angeles Clippers says Shelly Sterling has reached an agreement to sell the team to former Microsoft CEO Steve Ballmer for $2 billion.

The individual, who wasn't authorized to speak publicly. told The Associated Press on Thursday that Ballmer and the Sterling Family Trust now have have a binding agreement. The deal now must be presented to the NBA.

Shelly Sterling negotiated the sale after her husband, Donald Sterling, made racist remarks that were made public. Donald Sterling must also approve the final agreement as a 50 percent owner. His attorneys say that won't happen.

Ballmer beat out bids by Guggenheim Partners and a group including former NBA All-Star Grant Hill.
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