Sterlings Hire Bank of America to Help Sell Los Angeles Clippers

ROBYN BECK/AFP/Getty Images(LOS ANGELES) -- Bank of America has been hired by Donald Sterling and his wife to help in the sale of the NBA's Los Angeles Clippers, a source familiar with the situation told ABC News.

The NBA banned Sterling for life from all league events after an audio tape became public that caught him uttering racist comments to his assistant V. Stiviano. He told her not to post photos on Instagram of herself with black people  -- such as Magic Johnson -- or  to bring black people his basketball games.

Last week, Sterling signed the NBA franchise over to his wife Shelly, a source close to the team said.

ESPN reported that the NBA had charged Donald Sterling with damaging the league with his racist comments and set a hearing for June 3, after which other team owners are set to decide the future of his ownership of the Clippers.

Sterling initially planned to fight to retain ownership, but changed his mind last week, ESPN reported.

The NBA also said the banned owner has engaged in other conduct that has impaired its relationship with fans and merchandising partners.

Copyright 2014 ABC News Radio

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