Atlanta Hawks announce sale of team to group led by Tony Ressler

After a process that took months to complete, the Atlanta Hawks are (finally) sold. The team announced on Wednesday evening, in the midst of Game 2 against the Brooklyn Nets, that ownership has been sold to a group led by Tony Ressler. Ressler had this to say about the sale.

"We are honored and thrilled to have been chosen to become the new stewards of the Hawks," said Ressler. "We respect the NBA’s approval process and, accordingly, can say no more other than we are incredibly excited by the Hawks’ success and wish them luck in the playoffs."

In addition to Ressler, the ownership group includes former NBA All-Star Grant Hill and Spanx founder Sara Blakely, among others. Official sales figures have not been released at this time, though reports indicate that the team sold for somewhere between $700 million and $900 million.

Stay tuned for further information, but the Atlanta Spirit Group is no longer in charge.

Rejoice.