clock menu more-arrow no yes

Filed under:

David Aldridge Also Reporting Of Impending Hawks Sale

New, comments
Getty Images

In a story first posted by Phil Foley at SB Nation Atlanta, NBA.com writer David Aldridge is reporting that last week's SI.com story about the impending sale of the Atlanta Hawks is pretty much "on the money".

Aldridge sites a league source that there is one anonymous buyer that is prepared to pay around $300 million dollars for the club and the operating rights to Philips Arena. Hawks management last week denied that anything was imminent in terms of a sale but it appears that the rumor is still out there and isn't going away anytime soon.

Aldridge reports that the sale is close but won't be completed in time to be approved by the NBA Board of Governors at its meeting on Tuesday in Dallas.

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 report also states that the Atlanta Spirit group would remain on as minority owners in the arrangement.