The Atlanta Hawks will have new ownership in place in time for the NBA Draft according to a report by the Atlanta Journal-Constitution. According to the report, the sale process is slated to be completed on June 24 with an approval vote of the NBA's Board of Governors.
Tony Ressler's group won the bid for the franchise with the price topping out at around $730 million. The group includes former NBA player Grant Hill as well as Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler.
HIll is expected to play a leading role in the franchise but what that role will consist of is still unclear. Ressler's group and current Hawks front office members are not allowed to comment on the matter until the pending sale is complete.
The Hawks' new owners will have to make several decisions upon taking over the franchise. The first of which will involve deciding the fate of exiled general manager Danny Ferry as well as working out a contract extension for head coach and acting president of basketball operations Mike Budenholzer.