Sterling was banned for life by the National Basketball Association in 2014 in response to racist comments the league said he made in a recorded conversation.
Sterling filed lawsuits in federal and California state courts over the forced sale of the Clippers after he was caught on tape making racially insensitive comments.
Details of the settlement weren't immediately available.
Sterling's lawsuit alleged that the National Basketball Association was part of a conspiracy that included Silver, Shelly Sterling and others to remove him after 33 years as the Clippers owner.
However, the lawyer for his wife, Shelly Sterling, calls it a capitulation.
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Samini says a settlement was reached.
"Finally, in the third season of Steve Ballmer's ownership of the Clippers, the last piece of litigation is mercifully over", Pierce O'Donnell, an attorney representing Shelley Sterling, wrote in a statement to the Times. The list of defendants eventually grew to include NBA Commissioner Adam Silver, former Commissioner David Stern, Shelly Sterling and two doctors who found Donald Sterling mentally incapable of continuing as a member of the family trust that owned the Clippers. Samini noted that the voluntary dismissal of the suit was filed on Friday, and at all related lawsuits were dismissed as well.
Former Clippers owner Donald Sterling has settled his lawsuit with the National Basketball Association over his 2014 sale of the team, according to the Los Angeles Times.
An NBA spokesman didn't return a request for comment.