Los Angeles Clippers owner Donald Sterling (C), his wife Shelly (L) and actor George Segal attend the NBA basketball game between the Toronto Raptors and the Los Angeles Clippers at the Staples Center in Los Angeles, December 22, 2008
Los Angeles Clippers owner Donald Sterling (C), his wife Shelly (L) and actor George Segal attend the NBA basketball game between the Toronto Raptors and the Los Angeles Clippers at the Staples Center in Los Angeles, December 22, 2008 REUTERS

The Los Angeles Clippers franchise is up for grabs and bids are reportedly from $1 billion to $1.2 billion. Shelly Sterling, the husband of the much-maligned owner Donald Sterling, who was embroiled in a racism controversy that started the mess in L.A., has been given authority to sell the team and started reviewing the offers for the franchise.

According to ESPN.com’s sources, Shelly told bidders to submit letters of interest by Wednesday and that a second round of bidding will take place over the weekend.

In the wake of Sterling’s comments in mid-April, Donald Sterling was banned from the league and fined $2.5M by NBA Commissioner Adam Silver.

There are reports that Donald will “fight to the bitter end” against the NBA and won’t sell the team but Shelly will eventually convince him to sell the franchise.

Among the interested parties to buy the Clippers include the group of David Geffen (music mogul), Larry Ellison (Oracle chief executive officer) and Oprah Winfrey. Other names reportedly joining this power group are Todd Boehly and Mark Walter (Guggenheim executives); Laurene Jobs (Steve Jobs’ widow); Elaine Wynn (Steve Wynn’s ex-wife) and Jimmy Iovine (Beats by Dre co-founder).
der Jimmy Iovine, ESPN has learned.

Others who have made their bids are the group of Grant Hill (former NBA player) with Tony Ressler and Bruce Karsh (investors); and Steve Ballmer (former Microsoft CEO)