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First on CNBC: LA Mayor Garcetti Makes First TV Remark Following Clippers Owner's Comments Today on CNBC

WHEN: TODAY, MONDAY, April 28, 2014

WHERE: CNBC'S "STREET SIGNS"

Following is the unofficial transcript of LA Mayor Eric Garcetti's first TV remarks following the Clipper owner's comments today on CNBC. All references must be sourced to CNBC.

BRIAN SULLIVAN: WE ARE JOINED NOW BY THE MAYOR OF LOS ANGELES ERIC GARCETTI. MAYOR WE WERE GOING TO HAVE YOU ON TO TALK ABOUT THE REBIRTH OF DOWNTOWN LOS ANGELES

MAYOR GARCETTI: SURE

SULLIVAN: THAT'S WHAT WE WILL TALK ABOUT BUT RIGHT NOW ITS ABOUT DONALD STERLING ITS ABOUT THE LOS ANGELES CLIPPERS I BELIEVE THESE WILL BE YOUR FIRST ON-AIR COMMENTS ABOUT THE SITUATION. WHAT IS THE CITY OF LA PREPARED TO DO? WHAT IS THE CITY OF LA ABLE TO DO?

MAYOR GARCETTI: WELL BRIAN THANK YOU AND LET ME FIRST SAY TO THE PLAYERS THAT ARE THE CLIPPERS I WANT TO TELL THEM THAT THIS CITY IS BEHIND THEM. THEY ARE WELCOME IN THIS TOWN AND THAT WE ARE ROUTING FOR THEM. I THINK THEY HAVE BEEN LOST IN THE MIX OF ALL OF THIS. AND THIS IS A FABULOUS TEAM OF GREAT BRIGHT STARS AND THIS CITY IS 100% BEHIND YOU ESPECIALLY AS YOU PREPARE..

SULLIVAN: AND A LOT OF PEOPLE WHO WORK FOR THE CLIPPERS ORGANIZATION THAT ARE NOT ON THE COURT.

MAYOR GARCETTI: ABSOLUTELY BUT SECOND THERE IS NO PLACE IN MY TOWN FOR ANY RACIST COMPANY. WE DON'T WANT TO SEE LEADERSHIP OF ANY COMPANY HERE THAT'S NOT WELCOME IN LOS ANGELES AND WE ABSOLUTELY WON'T TOLERATE IT. THOSE COMMENTS WERE DISPICABLE I HOPE THAT THE VERY STRONGEST SANCTIONS ARE LEVIED BY THE LEAGUE AGAINST THE OWNER IF IT IS PROVEN THAT THAT INDEED IS DONALD STERLING.

SULLIVAN: DO YOU HAVE ANY INDICATION I KNOW THAT YOU ARE NOT A SPORTS GUY BUT DO YOU HAVE ANY INDICATION OF WHAT THE HAS THE NBA SPOKEN TO YOU ABOUT WHAT THEY ARE ABLE TO DO? WHAT POWER THEY MAY HAVE MAYOR?

MAYOR GARCETTI: WELL I'VE TALKED TO FOLKS LIKE KEVIN JOHNSON WHO IS A FELLOW MAYOR AND OBVIOUSLY VERY INVOLVED STILL IN THE LEAGUE.

SULLIVAN: A FELLOW BASKETBALL GREAT.

MAYOR GARCETTI: ABSOLUTELY I MEAN KJ SAYING THE RULES AREN'T EXACTLY CRYSTAL CLEAR BUT I HOPE THAT THEY WILL DO SOMETHING TO SUSPEND HIM AS AN OWNER IF IT IS INDEED DETERMINED THAT THESE ARE HIS COMMENTS AND IT SEEMS LIKELY THAT THEY ARE. AND THEN LONGER TERM WHEN THEY MEET IN JULY THAT THEY WILL LOOK AT WHAT THEY CAN DO TO PERHAPS TRANSITION THIS OWNERSHIP BECAUSE IT IS A REAL MARK ON THIS CITY TO SEE THOSE SORTS OF COMMENTS, TO HEAR THEM DOESN'T REPRESENT THE MOST DIVERSE CITY ON THE FACE OF THE EARTH THE MOST TOLERANT PLACE PROBABLY ON THE GLOBE, THE GREAT LA. THERE'S NO PLACE FOR THAT IN LA.

SULLIVAN: SO THE OWNERSHIP NEEDS TO CHANGE.

MAYOR GARCETTI: I WOULD LOVE TO SEE THAT CHANGE HAPPEN.

SULLIVAN: YOU THINK THAT'S CLEAR. BUT NOTHING YET FROM THE NBA ABOUT THAT. THEY HAVE NOT COME TO YOU YET AND SAID MAYOR HERE'S WHAT GOING TO HAPPEN.

MAYOR GARCETTI: NO I'LL BE SPEAKING TO THE COMMISSIONER LATER TODAY AND I'LL BE LETTING HIM KNOW WHERE WE ARE AT AS A CITY THAT WE AS A CITY CERTAINLY DO NOT STAND BEHIND THIS AND WE'D LIKE TO SEE THE LEAGUE EXERCISE ITS POWER AGAINST THE OWNER.

SULLIVAN: SO YOU WILL BE SPEAKING WITH ADAM SILVER LATER TODAY?

MAYOR GARCETTI: ABSOLUTELY

SULLIVAN: ALRIGHT WHEN YOU GET AN UPDATE IF YOU COULD LER US KNOW PLEASE.

MAYOR GARCETTI: WILL DO

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