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Report: Mark Rachesky enters bidding for Atlanta Hawks ownership

A report has emerged that Mark Rachesky has entered the bidding for ownership of the Atlanta Hawks.

Jason Getz-USA TODAY Sports

The Atlanta Hawks are still very much up for sale, and there is a report that unveils a new bidder in the process. Marc Stein of brings word that Mark Rachesky, the chairman of Lionsgate Entertainment, has entered the bidding, and he also leads an investment firm called MHR Fund Management.

Perhaps the most interesting tidbit in Stein's story comes with Rachesky's tie to John Malone, who is the controlling owner of the Atlanta Braves, and how that relationship could affect the Hawks if Rachesky wins the bid:

Sources say that his close ties to Malone have led some city officials to wonder whether Rachesky's bid for the Hawks, if successful, would ultimately lead to the NBA franchise pursuing a move out of its downtown Philips Arena home to an Atlanta suburb. The Braves announced late in 2013 that they will be relocating ‎to Cobb County, roughly 15 miles away from their Turner Field home downtown, starting with the 2017 season.

Obviously, there is a long way to go in this process, so no panic is necessary with regard to a potential move from downtown, but it is certainly noteworthy to consider. Stein reports that a two-week window has emerged where representatives of Inner Circle Sports and Goldman Sachs will be holding meetings with bidders, and we could see some fireworks following that time period.

Stay tuned.