Update 2:40 p.m. Owner of the Los Angeles Dodgers, Magic Johnson, said he's interested in buying the Clippers at the Milken Institute Global Conference Wednesday afternoon.
"We'll see what happens; I will be owning an NBA team sometime," said Johnson. "We just have to wait and see."
Update 1:50 p.m. If Donald Sterling is compelled to sell the Los Angeles Clippers, the list of potential buyers will have more stars than the team's roster.
Oprah Winfrey leads the list of wealthy luminaries who announced their interest in purchasing the club shortly after NBA Commissioner Adam Silver banned Sterling from the league for life.
Winfrey's spokesperson confirmed Wednesday she is already in discussions with record-label mogul David Geffen and Oracle CEO Larry Ellison to pool their vast resources for a bid.
They won't be alone, either. Music mogul Sean Combs tweeted his interest in going after the Clippers, and boxing champion Floyd Mayweather Jr. wants to form a group to buy the team.
Celebrities ranging from Matt Damon to Oscar De La Hoya expressed interest in joining an ownership group.
Update 11:02 a.m. White House: Obama supports NBA ban against Clippers owner Donald Sterling
President Barack Obama is supporting the NBA's lifetime ban against Los Angeles Clippers owner Donald Sterling.
That's according to White House press secretary Jay Carney. Carney said Wednesday that Obama believes the league did the right thing in response to Sterling's racist comments.
Obama had weighed into the controversy over the weekend during a trip to Asia. The president called Sterling's secretly recorded comments "incredibly offensive racist statements."
Obama also cast Sterling's remarks as part of a continuing legacy of slavery and discrimination that Americans have to constantly be on guard against.
NBA Commissioner Adam Silver announced the punishment Tuesday. Silver also said he will try to force a sale of the Clippers and fined Sterling $2.5 million.
Previously: Magic Johnson pleased with ban on Sterling
Hall of Fame basketball player Magic Johnson says he's pleased with the decision to ban Los Angeles Clippers owner Donald Sterling for life from any association with the NBA for making racist comments.
Johnson told reporters in Saginaw, Mich., on Tuesday that the announcement of Sterling's punishment by NBA Commissioner Adam Silver marked "a great day for the United States." Johnson says he hopes fans will return to Clippers games.
TMZ released an audio recording last weekend of Sterling talking to a female companion. In the recording, Sterling questions her association with minorities, including Johnson.
Silver on Tuesday delivered the penalty along with a $2.5 million fine.
Johnson grew up in Lansing, Mich., and played at Michigan State. He was in Saginaw for the "Magic of a Promise" education fundraiser.