The Los Angeles Times, citing Sterling's attorney Bobby Samini, first reported the agreement.
Details of the agreement were not available.?
A federal judge dismissed Sterling's lawsuit in March, in which the former Clippers owner alleged that NBA conspired to remove him as owner of the Clippers.
Among those Sterling cited in his lawsuit included the NBA, commissioner Adam Silver, former commissioner David Stern, Sterling's wife, and two doctors who found the former owner to be mentally incapable of serving on the family trust that controlled the team.