The Memphis Grizzlies' sale to Robert Pera is expected to be voted upon in Thursday's NBA Board of Governors meeting.
Pera is the 34-year-old founder of Ubiquiti Networks.
Pera splits his time between San Jose and Taiwan.
"We've heard a lot of good things about him and his intentions are all good," Grizzlies guard Mike Conley Jr. said earlier this month of Pera. "I know the city of Memphis should be excited. As a team, we are excited. It's going to be a different expectation for us, and we're just looking forward to taking it on."
Pera has included Justin Timberlake, Peyton Manning, Penny Hardaway and Harold Ford Jr. in his ownership group.