NBA

Bank of America hired to sell Clippers

Bank of America Corp. has been chosen as the financial firm to sell the Los Angeles Clippers, according to a report in Bloomberg on Tuesday, citing two people with direct knowledge of the situation.

The team’s managing partner Donald Sterling has been forced to sell the team by the National Basketball Association after making racist comments.

Sterling agreed last week to let his wife Shelly Sterling sell the team to avoid a potential prolonged legal battle with the NBA. Sterling’s wife wants at least $1 billion for the team, according to reports. Bank of America shares were up 3.5%.

This article originally appeared on MarketWatch.com.