Los Angeles Clippers owner Donald Sterling has officially agreed to sell the NBA team and will drop the $1 billion lawsuit he filed last week, The Associated Press, NBC News and CBS News reported Wednesday.

"The NBA and Donald Sterling and Shelly Sterling have agreed to sell the Los Angeles Clippers to Steve Ballmer for $2 billion and various additional benefits. All disputes and outstanding issues have been resolved," attorney Bobby Samini told NBC News.

Sterling attorney Maxwell Blecher told the AP that the $1 billion lawsuit filed in federal court last week will be dismissed.

NBA owners must approve the sale of the Clippers.

Sterling's estranged wife, Shelly, agreed to sell the Clippers to former Microsoft CEO Steve Ballmer for $2 billion last week.

The case began last month when TMZ posted a recording in which Sterling made racist comments. Later, there were questions about the 80-year-old's mental state, raising the issue of how much control he has or should have with the Clipppers.