Charles Barkley: Donald Sterling has to go ASAP

L.A. Clippers owner Donald Sterling is mean-spirited and has to go, NBA Hall of Famer Charles Barkley told CNBC Friday.

"We need to get Donald Sterling out of the game as soon as possible," he said in an interview with "Street Signs" from the American Century Championship, an annual celebrity golf tournament.

"He's 80 years old. He made his own bed. He put himself in this situation. He should do the right thing and sell his team," Barkley said.

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Sterling is refusing to sell the Clippers and is in the middle of a legal battle with his wife over whether she has the right do so. Former Microsoft CEO Steve Ballmer has agreed to pay $2 billion for the team, which Sterling bought in 1981 for $13 million.

The embattled owner was banned for life from the NBA in April after being caught on tape making racist comments.

While Sterling was always cordial to him. Barkley said, "[I'd] rather somebody be in the Klan and hate me than be nice to me and talk bad about me behind my back."

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"He was nice to all these guys to their face and talking about them behind their back. That's very disrespectful."

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Barkley also said he is trying to make wise choices in his investments. About 70 percent of professional athletes go broke, he noted, and his number one goal is to not wind up in that group.

"It's like hitting the lottery being able to play pro sports and if you hit the lottery there is no reason for you to end up broke," he said.

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Family and friends were his biggest impediments before he learned to say no.

"I probably gave out $4 million to $5 million to my family and friends that I'll never see again."

Watch the full interview below: