The Atlanta Journal-Constitution reports that the Atlanta Hawks are set to add five minor investors to their ownership group pending league approval. The process could be completed by mid-March and is pending league approval.
The Hawks currently have a seven member ownership group led by Bruce Levenson who serves on the NBA's Board of Governors. The ownership group previously stated that they were looking for "strategic partners to bring into the organization."
The new additions will be minor in capacity and will likely serve behind the scenes.
Another interesting part of the article says that the Hawks are looking to make some capital investments within the organization. Those could include a new scoreboard for Philips Arena and a new practice facility. The team currently has a practice court inside the Arena but it pales in comparison to some of the other facilities that are utilized by other teams around the league.
Philips Arena received an internal face lift last season including video boards that were installed at each end of the floor.