For the record, I support any protest the players want to make outside of not playing. Jerseys inside out may have looked silly, but it was a way of "doing something" and harmless enough. And I salute Doc Rivers for turning down a meeting with Sterling and indicating he will step down if Sterling remains as owner.
I also support "free speech" but not freedom from consequences. Sterling is certainly free to spout any vitriol he desires, just as you or I or anyone else can express our beliefs and feeelings for any race, religion, political party, etc. But he should also expect to face any fallout from his actions. Were the NBA a "free market," it would likely follow that his business would suffer accordingly, with many employees, customers and vendors opting to deal with another company. But he has a protected franchise, one of only 30 nationwide.
Publicly, Silver needs to fine and suspend Sterling to the maximum level he can under ownership bylaws. Privately, he then needs to make Sterling understand the consequences of continuing to own the Clippers: i.e. loss of sponsorship $, likely cancellation from luxury box holders, etc. Silver can aid in the sale of the franchise (Magic's group is quickly coming together) or Sterling can fight to retain control, lose tens of millions each year and see the franchise lose a ton of value as it spirals out of control and the Clippers struggle to find ANY players that want to sign with them. I think Sterling can be convinced to sell. But an owners vote is not the way to do it.
I wasn't a fan of a protest on Clippers time but that's just my personal opinion. I think that the players should at least look at action in the NBAPA and perhaps the Clippers team send an opene invite to all available NBA players some type of public display of protest. Perhaps a press conference and have all the players wear a shirt with a message on it.
Edit: With the open invite hopefully you get a very mixed group. Hispanic, black, white, American, foreign...