L.A. Clippers owner Donald Sterling stands to make hundreds of millions of dollars if he sells the team, and potential buyers are already lining up. However, Forbes executive editor Michael Ozanian said he must act fast.
"There's a huge pent up demand to buy sports teams and there is very, very little supply coming on the market right now," Ozanian told CNBC's "Street Signs."
Sterling bought the team in 1981 for $13 million, and Ozanian thinks Sterling will sell the franchise for at least $700 million and possibly as much as $850 million.
Sterling was banned for life by the National Basketball Association on Tuesday and fined $2.5 million for racist comments caught on tape and made public over the weekend. On the recording, released by TMZ, the embattled Clippers owner was heard criticizing a friend for associating with "black people."
NBA Commissioner Adam Silver said he would call for a vote by the other 29 team owners to force Sterling to sell. Three-quarters of the owners must agree.