Bidders for the Los Angeles Clippers have until 5 p.m. EST Wednesday to submit offers for the team, Bloomberg reported, citing sources.
Earlier this month, the National Basketball Association named Dick Parsons, the former chairman of Citigroup and former CEO of Time Warner, as the interim CEO of the Los Angeles Clippers after Donald Sterling was banned from the league for making inflammatory racist remarks.
Sterling agreed to the sale of his interest in the LA Clippers last week and has authorized his wife, Rochelle Sterling, to handle all issues in connection with the sale.
Donald Sterling called the ban illegal because it was based on a "lover's quarrel" that was "illegally recorded," the Los Angles Times reported Tuesday.
"This was an argument between a jealous man and the woman he loved that should never have left the privacy of the living room," Sterling said according to the report.
—By CNBC Staff