Former Microsoft Corp CEO Steve Ballmer has reached a deal to purchase the Los Angeles Clippers franchise for $2 billion.
A signed contract has been sent to the NBA for approval, said a person familiar with the situation, according to USA TODAY Sports.
An official representing Ballmer declined to comment on the news.
At least two other serious offers were made by seperate groups, according to USA Today.
One of the groups was led by media mogul David Geffen, who offered $1.6 billion and another from Los Angeles investors, who bid $1.2 billion.
The Clippers were put up for sale after the NBA banned current owner Donald Sterling for life over racist remarks he made during a conversation that was recorded and leaked to TMZ.com last month.
NBA owners still have to approve the sale, though Sterling doesn't have to sign off on the deal.
Last week, Sterling gave his wife Shelly written authority to sell the team.
Sterling and his wife each own 50 percent shares of the team, according to USA Today.
NBA Commission Adam Silver announced back on April 29 that he would try to force a sale of the Clippers after the conversation leaked.
In a 32-page response to the league, Sterling argued that his comments were made in a private conversation and illegally recorded under California law. He maintains he didn't break any NBA rules.
News of Ballmer's bid was first reported by the Los Angeles Times.
The deal would be the second-most ever for a North American professional sports franchise. In 2012, the Los Angeles Dodgers were sold for $2.15 billion.
Ballmer, 58, was CEO of Microsoft from 2000 to 2014. In an interview earlier this month with The Wall-Street Journal, he said if he did obtain the Clippers he would not try to move the franchise from Los Angeles.
Bidders had to submit letters of interest by May 28, and firm offers were due by 5 p.m. on May 29, according to ESPN.
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