The San Antonio Spurs are in discussions with private equity firm CVC Capital Partners on the sale of a minority stake in the team.
It was first reported in June that the Spurs were looking to sell a minority stake in the franchise.
The Spurs are in the top half of NBA team values, worth $2.05 billion.
The Holt family is not selling any portion of their stake in the team as the seller is one of the Spurs' existing minority owners.