The Golden State Warriors will begin accepting bids on the franchise starting Monday, and four or five groups are expected to make offers at some point, a league source told ESPN The Magazine's Ric Bucher on Sunday.
Oracle CEO Larry Ellison told financial analysts in January he was trying to buy the Warriors.
In March, Golden State hired Galatioto Sports Partners to handle selling the franchise and serve as their exclusive financial adviser throughout the process.
Oracle Corp. CEO Larry Ellison has already made it well known he wants to buy the team.
The Warriors' struggles on the court -- they finished this season well out of the playoffs at 26-56 -- have been compounded by current owner Chris Cohan's financial problems.
In 2007, the Internal Revenue Service said Cohan owed more than $160 million in back income taxes and penalties from the 1998 sale of a cable television company.
The Warriors announced across-the-board discounts for season ticket holders for next season in March.
Ellison told financial analysts in late January he was trying to buy the team but said, "unfortunately you can't have a hostile takeover of a basketball team."
Though the Warriors have said they wouldn't comment further until an agreement or transaction with a buyer is reached, team president Robert Rowell has said he's committed to fielding a competitive team.
And coach Don Nelson and general manager Larry Riley have hinted their young players will be all the better with a year's more experience.
Information from The Associated Press was used in this report.