Ever since the leaked recordings of Donald Sterling dropped in April, there have been questions regarding his health and mental capacity.
Sterling was banned for life from the NBA and reportedly on May 22nd signed his ownership interest over to his estranged wife Rochelle “Shelly” Sterling. Late Thursday evening it was announced that Shelly had completed the $2 Billion sale of the team to ex-Microsoft CEO Steve Balmer.
Donald’s lawyer said that Sterling hadn’t signed off on the sale and still planned to move forward with a lawsuit against the NBA to retain ownership. But now word has come out that the Sterling Trust has declared Donald mental incapacity. That means the trust has control of business decisions and, as long as the NBA approves of the sale, Sterling is out of the NBA business and $1.34 billion richer after paying capital gains taxes.
Sources connected with the Sterling family tell TMZ … the trust agreement that governs the family’s ownership of the team provides if 2 qualified doctors determine either Donald or Shelly shows “an inability to conduct business affairs in a reasonable and normal manner” … they will then be stripped of control over the team.