A person familiar with negotiations says Hornets sale talks between George Shinn and minority owner Gary Chouest have reached an "impasse" and that Shinn now wants to speak with other possible buyers.

Shinn's preference is to deal only with investors who want to keep the Hornets in New Orleans, the person told The Associated Press on Friday, speaking on the condition of anonymity because Shinn and Chouest have yet to publicly discuss the sale.