The news of the sale was first reported by The Atlanta Journal-Constitution.
Loeffler, who earlier this month against Rev. Raphael Warnock lost in the historic run-down to Georgia is a Republican who caused controversy earlier in the WNBA by saying she does not support the Black Lives Matter movement. She also called for the depoliticization of professional sports.
Warnock will be sworn in as a U.S. senator on Wednesday.
“As for the Atlanta Dream, we understand that the sale of the franchise is near,” a WNBA spokesman told CNN in an email. “Once the sale negotiation is completed, additional information will be provided.”
According to a team spokesman, the Atlanta Dream did not comment. CNN also contacted Loeffler’s representatives, but did not hear about it.
Last summer, Dream players signed a united statement – on Loeffler’s objection – that they support the Black Lives Matter movement.
Despite pressure to sell her stake in the team, Loeffler has denied it in the past, urging WNBA players to fight her. Several Atlanta Dream players were photographed wearing ‘Vote Warnock’ shirts in the days before the election earlier this month.
Warnock’s victory meant he became Georgia’s first black American senator. He was also the first Georgia Democrat to be elected to the U.S. Senate in more than 20 years.
NBA superstar LeBron James tweeted on January 6 that he is thinking of setting up an ownership group to buy the Dream.