Hansen, who also owns NWSL side Utah Royals FC and USL side Real Monarchs, caused outrage on Wednesday when he criticized RSL's players and other MLS teams for boycotting their games in protest of police brutality.
"All I can say is they supported other issues nationally; they clearly did not support our city or our organisation," Hansen said.
"It's a moment of sadness. It's like somebody stabbed you and you're trying to figure out a way to pull the knife out and move forward. That's what it feels like. The disrespect is profound to me personally."
The real estate tycoon also threatened to cut jobs due to the lost revenue from games being cancelled, and barred players from the club's training facility on Thursday.
In the wake of the incident, The Athletic highlighted Hansen's history of making inappropriate and racist remarks to players and staff.
"Major League Soccer has been informed that Real Salt Lake Investor-Operator Dell Loy Hansen has decided that he will begin a process to sell Utah Soccer Holdings, the entity that owns Real Salt Lake (MLS), Utah Royals FC (NWSL) and Real Monarchs (USL).
"MLS will work with Mr. Hansen on supporting the sale efforts for the company and will work closely with the club’s executive staff to support the operations of the team during the transition period.
"I want to acknowledge Dell Loy Hansen’s significant efforts to build the sport of soccer in the state of Utah and for his commitment to Major League Soccer."
NWSL commissioner Lisa Baird echoed Garber's sentiments following the news.
"The National Women’s Soccer League has been informed that Dell Loy Hansen will being the process to sell Utah Soccer Holdings, the entity that owns Utah Royals FC. That decision is in the best interest of the club and the NWSL.
"Mr. Hansen’s contributions to the league’s growth and the continued development of soccer are notable, but we agree that the decision is the right one for the future of the Royals. We look forward to supporting the Royals players and staff and will assist the ownership transition in every way possible.”