Bruce Levenson announced this past Sunday that he would sell his majority stake in the Atlanta Hawks and now we have our first report of a potential buyer. The Atlanta Journal-Constitution cites the New York Post in a report that entertainment and sports attorney Doug Davis is interested in purchasing the team.
Davis is the son of legendary record producer and music executive Clive Davis. According to the Post, Davis' group includes celebrities, artists and entertainment executives.
Its unsure whether or not Davis is looking to purchase just Levenson's share of the team or is interested in buying out all of the minority owners as well. Atlanta's current group of owners has a checkered past of missteps and infighting. The franchise would most benefit from a clean slate at least at the ownership level.
More potential buyers are likely to emerge as the process plays itself out. Sports Business professor Patrick Rishe previously projected that the Hawks could sell for in excess of $700 million in total. Its unknown how much of a majority stake Levenson has.