The word "racism" has officially lost every shred of possible meaning in modern America. As Orwell noted of the word "fascism", it now means "something bad in the thought and actions of those I don't like".
Donald Sterling is undoubtedly a very crude public figure, but his remark was made (it would appear) in confidence, & therefore to publicize this remark amounts to (as Gornahoor pointed out) detraction, which in a healthier age would itself have been prosecuted legally. The remark was followed by outrageous other remarks made by semi-public figures, such as calling for the creation of an all black basketball league (presumably, this would mean making the NBA all black, as I doubt they were calling for a separate league of their own that would take a second seat).
"Racism" isn't a sin. The Sterling affair was likely cooked up to give a desirable franchise into "certain" hands.
The idea that someone is to have his private property confiscated for having "undesirable attitudes" is an interesting symptom of the coming times we are cooking up for ourselves. Will we eventually have to pass "attitudinal correctness" tests in order to hold jobs? We are halfway there. The State can't enforce it yet, but they can certainly encourage private corporations to enforce it on themselves, thus saving a lot of time and energy in preparing the ground work for a massively corrupt and intimidated society of "free people" who live in fear of being denounced or "discovered". At my Catholic hospital, they hang up posters for "sexual diversity" during certain months of the year - it's important at Christian hospitals to remember that God created some people with problems others don't have. Or something like that....
Why is it wrong for whites to have a white neighborhood or college, but this is just legitimate aspiration and "community-building" when it comes to other groups? This amounts to a massive failure of nerve and intellect in defining Justice. It is dysfunctional, and if it continues, will become something much uglier, although what exactly, is hard to say. The one thing we should be able to know is that it will be worse.
Eventually, these kinds of lies and hypocrisy will tear apart the social fabric of America, what is left of it, and there will be nothing left to put in its place, all social good will being exhausted.
Blacks do have legitimate grievances. Unfortunately, they are not the ones currently being peddled in the public sphere. There are also legitimate grievances against "them" as a group, but no one is allowed to mention them or even to think of this.