People with knowledge of the situation say investor Chris Hansen has contacted the Maloof family about buying the Sacramento Kings.
The people spoke on condition of anonymity Wednesday because no deal has been reached.
One person says the Kings could sell for more than $500 million.
Hansen is trying to build a new arena in Seattle, which lost the SuperSonics to Oklahoma City in 2008.
The Kings' future in Sacramento has been uncertain because the Maloofs and the city haven't been able to come up with a long-term arena solution.
Yahoo! Sports first reported the discussions between the Kings and Hansen.