# Report: Agreement in place for 100% sale of team



## ATLien

__ https://twitter.com/i/web/status/551049547087368192


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## BlakeJesus

Hopefully the new owners don't mess with Buds mojo.


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## ATLien

BlakeJesus said:


> Hopefully the new owners don't mess with Buds mojo.


Hopefully the new owners want to keep Bud around. 

I have a feeling if it's the Webber group or really any former ball player, they are going to be more likely to blow things up and tank.


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## Marcus13

Will be interesting to see what the price tag was


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## ATLien

http://www.bizjournals.com/atlanta/...ners-of-atlanta-hawks-aim-to-play-a-role.html



> The Atlanta Hawks may be for sale, but it's premature to say that current Atlanta owners won't continue to have a stake the team.
> 
> One of the Atlanta owners, Rutherford Seydel, said in a telephone interview Friday afternoon that the local group continues to be interested in being part of a future ownership team.


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## Bogg

ATLien said:


> http://www.bizjournals.com/atlanta/...ners-of-atlanta-hawks-aim-to-play-a-role.html


Eh, I mean, is there really any reason to _hate_ this current ownership group so much that there's a "sooner the better" mindset? Sure, they haven't won a title, but don't they have something like the second-longest playoff streak in the league? It's not like they're incompetent.


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## ATLien

__ https://twitter.com/i/web/status/552570142161240065


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## RollWithEm

That Atlanta team would be welcomes in the Seattle market.


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## ATLien

RollWithEm said:


> That Atlanta team would be welcomes in the Seattle market.


Would the team stay in the Eastern conference?


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## RollWithEm

ATLien said:


> Would the team stay in the Eastern conference?


They would have to move the Wolves to the East, right? Or Memphis? Or New Orleans?


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## ATLien

__ https://twitter.com/i/web/status/552568043243438080


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## ATLien

__ https://twitter.com/i/web/status/552892531067731968


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## ATLien

Report: $800 million bid in place

The deadline to submit bids for the Atlanta Hawks was on Tuesday and Forbes is reporting that several offers were made with the top bid totaling $800 million. 

According to ProBasketballTalk's Kurt Helin, many of the bids are heavy on foreign investors that have teamed up with recognizable NBA people to make the bids. Helin also reports that while the deadline has passed, there is still time for a more lucrative offer to come forth. He speculates that as the reason for the $800 million price tag to have leaked out.

http://www.peachtreehoops.com/2015/2/27/8123385/atlanta-hawks-for-sale-800-million-bid


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## RollWithEm

I thought it might be awhile before we saw an NBA franchise sold for under a billion. That's a good buy.


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## Kreutz35

RollWithEm said:


> They would have to move the Wolves to the East, right? Or Memphis? Or New Orleans?


Memphis would make the most sense geographically and would also help with the issue of balancing the league.


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## ATLien

Over the new two weeks, sources say, ‎representatives from the two companies chosen by the Hawks' outgoing ownership to oversee the sale and screen interested parties -- Goldman Sachs and Inner Circle Sports -- will be meeting directly with groups that have made nonbinding bids to purchase the Hawks.

Binding offers would then follow, with one source telling ESPN.com this week that at least one of the interested groups has made its willingness known to pay in excess of $900 million for the team.

http://espn.go.com/nba/story/_/id/1...ment-chairman-mark-rachesky-bid-atlanta-hawks


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## ATLien

Hawks finalizing sale with billionaire Anthony Ressler

Billionaire philanthropist Anthony Ressler has neared an agreement to purchase the Atlanta Hawks for less than $1 billion, the Atlanta Journal-Constitution has confirmed.

Ressler, 55, is a co-founder a of two private equity firms, Apollo Global Management and Ares Management, and is a minority owner in the Milwaukee Brewers.

http://www.ajc.com/news/sports/basketball/hawks-finalizing-sale-with-billionaire-anthony-res/nkzxP/


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## Basel

I'm hearing $850 million.


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## ATLien

The group reportedly includes Ressler, Grant Hill, Jesse Itzler and Sara Blakely.


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## ATLien

Basel said:


> I'm hearing $850 million.


$730 million plus $120 million debt on Philips Arena.


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## roux

ATLien said:


> Hawks finalizing sale with billionaire Anthony Ressler
> 
> Billionaire philanthropist Anthony Ressler has neared an agreement to purchase the Atlanta Hawks for less than $1 billion, the Atlanta Journal-Constitution has confirmed.
> 
> Ressler, 55, is a co-founder a of two private equity firms, Apollo Global Management and Ares Management, and is a *minority owner in the Milwaukee Brewers.*
> 
> http://www.ajc.com/news/sports/basketball/hawks-finalizing-sale-with-billionaire-anthony-res/nkzxP/


The Brewers have an excellent ownership group.. they have done wonders for the franchise and the city... this guy will be great for you guys


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## RollWithEm

Grant Hill is involved in this? Is he putting all the Sprite money in play?


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## ATLien

RollWithEm said:


> Grant Hill is involved in this? Is he putting all the Sprite money in play?


Probably less than 1%.


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## ATLien

The sale of the Atlanta Hawks is scheduled to be completed on June 24 according to a report by the Atlanta Journal-Constitution.

http://www.ajc.com/news/sports/basketball/hawks-sale-scheduled-to-be-completed-june-24/nmWg5/


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## ATLien

NBA Board of Governors unanimously approve sale of Atlanta Hawks to Tony Ressler Group

Ressler along with co-owner Grant Hill, CEO Steve Koonin and head coach Mike Budenholzer will meet with the media Thursday morning at 11 a.m.


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## RollWithEm

Is Philips Arena about to be called the Sprite Center?


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## ATLien

RollWithEm said:


> Is Philips Arena about to be called the Sprite Center?


The new uniforms actually look like a combination of Sprite and Waffle House.


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## ATLien

__ https://twitter.com/i/web/status/614146950586347520


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## ATLien

No luxury tax



> Hawks principle owner Tony Ressler said he expects to spend over the NBA salary cap on player salaries.
> 
> In an interview with The Atlanta Journal-Constitution last week, Ressler addressed a wide-ranging number of topics in discussing his commitment to the franchise and fan base.
> 
> Ressler said one way ownership will show its commitment is by “having a payroll that is between the cap and the (luxury) tax but never below the cap, having real payroll, having a commitment to keeping a quality team.”
> 
> 
> The salary cap will be $67.1 million with a luxury tax line of $81.6 million next season. The cap is expected to rise dramatically the following year with the new television contract.


http://www.ajc.com/news/sports/basketball/ressler-hawks-will-spend-over-salary-cap/nmnnX/


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## RollWithEm

That is not good news. Knowing in advance that you will NEVER spend over the luxury tax is a recipe for mediocrity.


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## ATLien

How many teams paid the luxury tax last season?


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## ATLien

ATLien said:


> __ https://twitter.com/i/web/status/614146950586347520


He also mentioned wanting renovations to Philips Arena or a new stadium completely.


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## RollWithEm

ATLien said:


> How many teams paid the luxury tax last season?


Five


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