LOS ANGELES -- The chief financial officer of Donald Sterling's properties says the billionaire may be forced to sell a large portion of his real estate empire to cover $500 million in loans if he persists in refusing to sell the Los Angeles Clippers for $2 billion.
Darren Schield, who oversees the finances of The Sterling Family Trust, testified Monday that three banks are ready to recall their loans to Sterling because of his decision to dissolve the trust. His move was designed to rescind agreement for the sale of the Clippers, a team he bought for $12 million.
Schield said if Sterling has to dump $500 million worth of apartment buildings he could destabilize the Los Angeles real estate market.
Sterling's lawyer suggested there are other options for raising the money.
Nick Young signs deal to stay with Lakers
EL SEGUNDO, Calif. -- Free-agent guard Nick Young has signed a multiyear deal to stay with the Los Angeles Lakers.
General manager Mitch Kupchak on Monday described Young as a "bright spot" during last year's losing season. He says he's glad to keep someone committed to the rebuilding of the team.
Young averaged a career-high 17.9 points in his first season with the Lakers playing mostly off the bench. He started nine of 64 games. Young led the NBA in four-point plays with seven, a team record.
Bulls re-sign point guard Kirk Hinrich to two-year deal
The Chicago Bulls have re-signed guard Kirk Hinrich to a two-year deal.
The Bulls announced the move Monday, along with the signing of second-round pick Cameron Bairstow. A person with knowledge of the deal tells The Associated Press that Hinrich will make $2.7 million next season. The contract includes a player option for the second year. Hinrich has spent nine of his 11 seasons with the Bulls.
The steady veteran averaged 9.1 points and 3.9 assists in 73 games last season. His presence will help give the Bulls a little bit of insurance should Derrick Rose's knee issues return.
Rose is set to play this season after missing most of the last two years.
Forward Matt Bonner re-signs with San Antonio Spurs
SAN ANTONIO -- The Red Rocket is coming back to San Antonio.
The Spurs announced on Monday that they have re-signed Matt Bonner. Terms were not disclosed, but the veteran will return for a ninth season in San Antonio. That's the longest tenure outside of the trio of Tim Duncan, Manu Ginobili and Tony Parker.
Bonner only played sparingly last season, averaging 3.2 points in 11.3 minutes in 61 games. But he shot 42.9 percent from 3-point range and is a beloved member of the team both inside the organization and in the community.
Bonner ranks third in franchise history in 3-pointers made and seventh in 3-point field goal percentage.
Mavs sign Richard Jefferson after losing Carter to Memphis
DALLAS -- The Dallas Mavericks have signed free agent forward Richard Jefferson as a possible replacement for Vince Carter off the bench.
Terms of the contract announced Monday weren't released, but it is reportedly a one-year deal for the veteran minimum of $1.4 million.
Jefferson started 78 games for Utah last year but figures to be used as a 3-point threat coming off the bench. That was the role last season for Carter, who signed with Memphis as a free agent.
The 34-year-old Jefferson has averaged 14.5 points and 4.5 rebounds in a 13-year career that started in New Jersey, where he went to the NBA Finals twice with Jason Kidd and Carter.