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Hawks Sale To Alex Meruelo In Jeopardy, According To Report (Updated)

Just filed: Sale of Hawks to Alex Meruelo in jeopardy because of concern at league/team level about funds. link shortly
Oct 26 via UberSocial for BlackBerryFavoriteRetweetReply

Remember that Meruelo has not been approved yet by the NBA in a process that has seemingly been dragging itself out. More to come as details become available.

According to Stein's report, there are concerns within the league and within the Atlanta Spirit on whether or not Alex Meruelo has sufficient funds to purchase a majority stake in the Atlanta Hawks and then operate the team. Meruelo issued a statement on the report reaffirming his commitment to buy the team.

"I have more than ample resources to purchase and operate the Hawks in a first-class manner. I am committed to the purchase of the Atlanta Hawks. While I can't comment on the details of the approval process, I have and will do everything I can to bring the process to a positive conclusion."

Stein also reports that Michael Gearon Jr. and Bruce Levenson have acknowledged during recent league meetings that they may have to own the team for another season.

This is a very disappointing turn of events for a Hawks fan who had a keen eye turned towards the future if and when the lockout eventually ends. The point of all of this is to see the franchise in a better place and many of us has requested a sole owner instead of a group that can often become faceless. However, if that sole owner doesn't have the funds to adequately operate the franchise then we are no better off.

Lets hope that this is just a report and that ultimately all of the concerns are put to rest. However, the length of time that has passed since Meruelo was announced to now suggests that there hurdles that still have to be jumped.