Adam Silver addressed the media in New York City prior to Tuesday night's Draft Lottery and outgoing Clippers owner Donald Sterling was the primary subject matter.
Silver noted that the Clippers are still Sterling's to sell and the league would prefer him to sell the club in a timely fashion rather than have to get involved.
"Well, under our constitution, he has until next Tuesday to respond to our charge and then a hearing will take place the following Tuesday on June 3rd, most likely here in New York," Silver said when asked about the timetable for a sale.
"I envision once we move through that process that we will then put the team in order, and presumably we will hire an investment banker and we will conduct an orderly process. We also have a fiduciary obligation to the Sterlings to ensure that we sell it for the highest possible price, and there's no doubt it's an incredibly valuable asset."