The NBA may face an obstacle as it moves to strip Donald Sterling of his stake in the LA Clippers for his racist remarks—a trust.

Read: Taxes and your legacy

Sterling, who became a national name after his history of racist remarks was exposed last month, is actually co-owner of the Clippers, reports Businessweek. The other owner is his wife, Shelly. The two reportedly hold the team in a family trust.

Shelly wants to keep control of the Clippers, Businessweek says, but to do it she’ll have to sue her husband, alleging he breached his duty to the trust’s property. She could also divorce him to access the trust’s assets.

If the league votes to force a sale of the team, it could fetch up to $1 billion, reports the Los Angeles Times. But legal proceedings between the Sterlings could stall any sale.

Read more here and here.

Also read:

Extra powers for Financial Consumer Agency of Canada

The man who discovered the 1%

Buffett’s son fights poachers

Originally published on

Add a comment

You must be logged in to comment.

Register on