# We need a new owner



## ATLien (Jun 18, 2002)

http://www.ajc.com/sports/atlanta-hawks/hawks-no-longer-collateral-818248.html



> The Atlanta Hawks franchise is no longer tied to Philips Arena as collateral in case its owners default on long term bond payments – making it easier for the owners to tap into NBA’s credit facility and for the team to be sold -- according to a bond refinancing document from the City of Atlanta and Fulton County Recreation Authority.
> 
> The owners, a seven-man group known as the Atlanta Spirit, refinanced the remaining $124.5 million of debt remaining on the arena in August 2010, just before the start of the 2010-2011 NBA season, documents show.


If Spirit has been trying to sell the NHL franchise since 2005, who knows what can happen


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## LA68 (Apr 3, 2004)

Well, handing out those big contracts won't help the sale either.


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## BlakeJesus (Feb 1, 2006)

But trying to sell a failing franchise isn't easy either. Would you rather buy the 4/5th best team in the conference, or the 8/9th?

It's a horse a piece.


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## Dre (Jun 20, 2003)

You don't buy a franchise based off a 2-3 year window


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## JonMatrix (Apr 8, 2003)

Is the controlling owner from the group still Michael Gearon? Or did Gearon and his group sell the controlling share to the Spirit Group? Wasn't it him (Gearon) and Belkin who were at odds over the original Joe Johnson signing in '05?


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## ATLien (Jun 18, 2002)

Gearon & the Spirit Group control the team. Belkin was one who didn't want to trade for Joe Johnson. I'm not up to date on what is current, though.

It's sad, because nobody in Atlanta gives a **** about the Hawks. If you include college teams, they are like the fifth or sixth team with the most buzz.


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## LA68 (Apr 3, 2004)

GregOden said:


> But trying to sell a failing franchise isn't easy either. Would you rather buy the 4/5th best team in the conference, or the 8/9th?
> 
> It's a horse a piece.


8/9th is cheaper. The key is not if the team is winning but, if its in a large market. That's why the Warriors sold for so much. Players come and go. But, that audience is who pays to see your team.


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## ATLien (Jun 18, 2002)

Having a roster with cheap contracts and no franchise player would help the sale, I think. Look at Cleveland before LeBron was drafted.


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