Blog Entry

Report: Hawks sale is 'moving fast'

Posted on: July 21, 2011 9:39 am
Edited on: July 21, 2011 9:49 am
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By Matt Moore

Last we heard, the Atlanta Hawks' disaster of an ownership group had taken the team off the market. It looked as if there would be no movement for the foreseeable future, which was disappointing, as current ownership had mucked up the works for years. It's an ugly, untenable arrangement that needs resolution for the owners, the teams, the players, management and fans. And it looks as if, all of a sudden, there's significant movement toward new ownership. From The Atlanta Journal-Constitution
The people familiar with the situation, speaking exclusively with The Atlanta Journal-Constitution, would not identify the potential bidder because of confidentiality agreements, but described the process as moving fast. They said no offer or exclusive negotiating agreement is in place but that the potential bidder, who might have partners, has the financial wherewithal to complete a transaction.

The potential buyer has accountants and lawyers working extensively on the matter.
via No offer, but potential majority buyer in talks for Hawks, Philips Arena  | ajc.com.

There's no telling what "moving fast" means, or if that's weeks or months. But any progress is promising. Hearing the owner has "the financial wherewithal" is a nice thing to hear, as well. You'd think it would be a prerequisite for purchasing a NBA team, but then, look around at the men orchestrating this absurd lockout and you'll find that's not the case. 

How the Hawks sale could impact the lockout isn't known. How the Hawks sale could impact the Hawks' cap situation or the long-term contracts tied up in an only-above-average roster isn't known. But if there's progress and if the new owner brings energy and innovation, it could signal a move toward a sustainable future.
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Category: NBA
Comments

Since: Sep 25, 2008
Posted on: July 21, 2011 8:22 pm
 

Report: Hawks sale is 'moving fast'

Right on target, Mack.  I think you speak for the vast majority of Hawk (and Thrasher) fans.



Since: Jun 27, 2009
Posted on: July 21, 2011 6:00 pm
 

Report: Hawks sale is 'moving fast'

Great news for Atlanta fans; the Atlanta Spirit sounds more like a women's hockey team than an ownership group with an NBA and NHL franchise.  Because of their mismanagement Atlanta will never have another hockey team and Joe Johnson's albatross of a contract will go down as one of the worst, if not the worst, in NBA History.

The bad thing is that some of these guys are from Atlanta...and they should be embarrassed.  I'm hoping you all get the heck out of town so we can get some real world business sense behind the Hawks.  Here's to hoping we're talking about a single buyer and not another LLC or entity looking to turn a quick buck.

Michael Gearon is a blabbering fool.  I can't believe these jokers got approved by 2 different leagues. 




Since: Mar 15, 2011
Posted on: July 21, 2011 5:28 pm
 

move it out

the morons that run that franchise may be the worst in professional sports---even worse than the la dodgers. 


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