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LOS ANGELES (Reuters) - The National Basketball Association said on Friday that it has reached an agreement with Shelly Sterling to sell the Los Angeles Clippers to former Microsoft Corp Chief Executive Officer Steve Ballmer, pending approval of the league's owners.
As a result of the settlement, the league canceled its Tuesday hearing and vote to strip Donald Sterling of Clippers' ownership. The NBA has banned Sterling for life and fined him $2.5 million for racist remarks.
Reporting by Eric Kelsey; Editing by Lisa Shumaker