NBA Commissioner Adam Silver met with the media during All-Star Saturday and addressed a number of topics involving the league. Silver was asked for an update on the sale of the Atlanta Hawks and he replied that things were on course and progressing normally.
One, I begin by saying that the Atlanta Hawks sale process is moving along on course. There are two investment banks that have engaged by the owners of the team. It's a very deliberate, methodical process. They produce, in essence, a sales book that has the data on the team. Groups look at it. They set dates in which teams make bids. But that's moving just along a course that they had expected. And there are several very interested parties who are looking at the team. And everything is on schedule.
Silver also commented on a rules change that was passed by the NBA's Board of Governors that would limit ownership groups to 25 members and would require that each member own at least a one percent stake in the team.
In terms of the new rule, yes, we passed a new rule at our last Board of Governors meeting. It was a bit of a formality, ownership groups cannot be comprised of more than 25 individual owners, and any individual owner in a team needs to own at least one percent of the team.
Silver indicated that there were "several very interested parties" in the Hawks but stopped short of elaborating on who those groups might be.