Sale of Hawks looking legit
Posted: Tue Jun 28, 2011 12:41 am
Sale of Hawks looking legit
The story concerning the imminent sale of the Hawks by SI.com last week is pretty much on the money, the team's denials to the contrary. The sale is close to being completed, though it won't be finalized in time for an approval vote by the Board of Governors at its meeting Tuesday in Dallas. There is a single, and up to now, anonymous buyer, according to a source. The amount? I'm told it's in the neighborhood of $300 million, including debt on the team. The team's current ownership group, Atlanta Spirit, is expected to remain on in a minority ownership capacity, according to the source, who's been briefed on the terms of the pending transfer.
Another group led by the founders of the Outback Steakhouse chain in Florida also put in a bid on the team, according to a source, though it's unclear how much they put up or if they were ever seriously considered ... http://www.nba.com/2011/news/features/d ... index.html