Hornets owner George Shinn has agreed to sell the team to the NBA and the transaction could be completed within a couple days, according to a source.

The league has hired New Orleans-born sports attorney Jac Sperling to be the NBA's administrator of the team and oversee its sale to a more permanent owner.

Hornets president Hugh Weber will continue overseeing day-to-day operations of what will be the first NBA team to be owned by the league.

Shinn has been in negotiations to sell the team to minority owner and Louisiana native Gary Chouest since last spring, but talks have been stalled for months.