So come on back to the discussion CookieMonster and eat your crow.
Bump this when it's fully resolved. Adam Silver talks a big game, but there are some huge ramifications to what he intends to do. How many other owners, even the ones who've voiced that they'd vote to remove Sterling, have racist or homophobic comments (or even worse, campaign contributions) attributed to their name? Is the Orlando Magic's owner ready to be forced to sell his team? He's on the record as opposing gay marriage.
Furthermore, why doesn't the first amendment apply here? Did not the government get involved by condemning him? Obama denounced Sterling. The mayor of Sacramento, Kevin Johnson, met with Silver to discuss what should be done! Why are federal and municipal officials getting involved in punishing someone for something said in private? That smells like a first amendment violation to me (but I'm no lawyer). Although, maybe I just don't understand it at all.
My guess is that this is FAR from over. Sterling is a litigation guy after all. I think he'll fight it and could even win (albeit a pyrrhic victory) to some degree. But the smart money says he dies before any of this gets settled (like Joe Paterno). He is 81 after all.
Maybe I'm wrong about all of this. But I'm VERY uncomfortable with anyone (even a sleaze ball like Sterling) being forced to do anything because of things they've said in private. You never know when what you think and say might be deemed unacceptable.