With the Atlanta Hawks up for sale, rumors have swirled that new ownership could try to move the team to a different market. However, NBA spokesperson Mike Bass confirmed Wednesday that the league has no intention of moving the Hawks once their sale is finalized, according to Chris Vivlamore of the Atlanta Journal Constitution.
NBA affirms Hawks won’t leave Atlanta
The Hawks’ ownership change won’t cost the city of Atlanta its basketball franchise.
Dale Zanine-USA TODAY Sports
All three ownership groups of the Hawks agreed to sell 100 percent of the franchise last week, leading Bill Simmons to report that prospective buyers could try to move the team to Seattle or another market. The league clearly wanted to stifle those rumors quickly, and did so Wednesday with a definitive statement supporting the team’s placement in Atlanta.
Follow the sale
Follow the sale
Just days after the announced sale, which is "still in its infancy," several prominent names have already come up as possible buyers. Former NBA stars Grant Hill, Dikembe Mutombo and Chris Webber are considered interested parties, as well as former Grizzlies CEO Jason Levien (who currently co-owns D.C. United), former Raptors CEO Bryan Colangelo, L.A.-based investor Steve Kaplan and billionaire businessman Sheldon Adelson.
Earlier this week, it was also reported that former Sacramento Kings suitor Chris Hansen and film producer Thomas Tull were prepping separate bids to move the team to Seattle. However, the NBA's statement on Wednesday would seem to take those groups out of the running unless they're willing to bail on relocation plans.
The sale of the team is being handled by Goldman Sachs and Inner Circle Sports, with April considered a possible target date for finalizing an agreement. The buyer must also be approved by the league. Last year, the Los Angeles Clippers sold for $2 billion, while the Milwaukee Bucks sold for $550 million. Expect the valuation of the Hawks to fall somewhere between those two numbers.
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