KEILAR: We have breaking news about the owner of the Los Angeles Clippers. You know there's this leadership shakeup that has gone on following the racist comments of long-time team owner, Donald Sterling. We have just learned, CNN has just learned that the Clippers will have a new CEO, Richard Parsons. He's a former Citigroup and Time Warner chairman. Let's go to our senior legal analyst, Jeffery Toobin, for more on this. What does this mean? Break it down for us.</s>JEFFREY TOOBIN, CNN SENIOR LEGAL ANALYST (voice-over): He is a very familiar person to us here at CNN because Time Warner is a parent company of CNN. He is a respected former corporate executive, Time Warner and Citigroup. It means that the NBA is moving methodically to exclude Donald Sterling from any role and to try to get the franchise running in a reasonably orderly way in preparation, presumably, for its sale, which Adam Silver, the NBA commissioner, said he wanted to do.</s>KEILAR: And so it's kind of a bit of cleaning house. We saw a leadership shakeup that happened following this scandal as it broke. So should we be expecting more than just this? Or is this really the one big position that we were expecting to be filled?</s>TOOBIN: No. There is another big step still to come. This is simply to establish management of the company. The really big issue, which the NBA has not yet addressed, is will they vote, three-quarters of the owners, to force Sterling to sell the team. That's the step staff that they have not yet taken. That procedure is underway. That is a much more complicated step than putting in a caretaker, which is what Richard Parsons is. It's an important step, but it's a preliminary step to the more important issue of figuring out who really owns this team.</s>KEILAR: Jeffrey Toobin, thanks so much for that. We're going to have more on this breaking news in a couple of minutes.
Clippers Get New CEO, Richard Parsons.