During todays press conference, the NBA Commissioner Adam Silver apologized this afternoon to the players and pioneers of professional basketball - Magic Johnson in particular.

Check out excerpts from the press conference:

“The views expressed by Mr. Sterling are deeply offensive and harmful. I am personally distraught that the views expressed by Mr. Sterling came from within an institution that has historically taken such a leadership role in matters of race relations."

"Effective immediately, I am banning Mr. Sterling from the NBA for life."

"Mr. Sterling may not attend any NBA games or practices. He may not be present at any Clippers facilities and he will also be barred from attending NBA board meetings."

"I am also fining Mr. Sterling 2.5 million, the maximum amount allowed under the NBA Constitution.”