Hawks Sold

[$tunna]

The AJC’s Tim Tucker reports that L.A. businessman Alex Meruelo is set to buy a controlling stake in the Hawks and the operating rights for Philips Arena. The deal is subject to approval by the NBA Board of Governors.

Meruelo is not allowed to comment on his specific plans for the Hawks or the team’s personnel because he’s not yet been approved as owner and also because of the lockout. But Meruelo did tell Tucker that although some members of the Atlanta Spirit ownership group would remain as minority partners, “I will be in complete control of the team.”

Meruelo told Tucker there is no circumstance in which he would seek to move the team from Atlanta and that he planned to be a “hands-on” owner like he is in his other business ventures. Meruelo’s career in business began with a chain of pizza restaurants and his portfolio eventually grew to include real estate holdings, a bank, a casino and a television station.

Via AJC

Yes! finally get some new ownership in ATL. It's about time, I hated having the ASG run it smh

 

[DJT]

About time, they have been in talks for a while it seems.

 

[$tunna]

For sure, they tried to keep a mystery who the guy was tho, it should be different having latino ownership.

 

[DJT]

Yeah, I didn't hear anything on who it was.

Hopefully he can breathe some life into the organization.

 

[$tunna]

He's already done that just by buying the team haha dude said he wants "to bring a championship to atlanta" that alone makes me respect him more then our old owners smh

 

[xMagic12x]

still choke at the end

 

[Pugz]

Alex Meruelo's acquisition of the Hawks is in jeopardy, according to sources.

There are concerns at the league level and within the Hawks' current ownership group, headed by Michael Gearon Jr. and Bruce Levenson, about whether Meruelo indeed has the sufficient funds to purchase a majority stake in the franchise and operate an NBA team.

Said Meruelo in a statement: "I have more than ample resources to purchase and operate the Hawks in a first-class manner. I am committed to the purchase of the Atlanta Hawks. While I can't comment on the details of the approval process, I have and will do everything I can to bring the process to a positive conclusion."