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Will another Atlanta sports team be sold?

Hawks part-owner Bruce Levenson denied a report Thursday by Sports Illustrated that the basketball team is on the verge of being sold, AJC writer Tim Tucker reports.

“Not true,” Levenson said in an email to Tucker. “We will issue a statement shortly.”

That statement indicated a deal is not imminent but reiterated that the Hawks’ owners are at least seeking new investors, Tucker reports.

“As we have stated for an extended period of time, we engaged an investment banker to assist us in looking for investors for the Atlanta Hawks and Philips Arena operating rights,” the statement said. “We have spoken with a number of parties, but at this time, there is no deal in place, nor is there an exclusive negotiating agreement in place. We will have no further comment at this time.”

As the AJC has previously reported, the Hawks’ ownership group, through investment bank The Raine Group, has had talks with various potential buyers or investors over the past year, Tucker writes. Those efforts continue.

Also in the AJC:

In other media:

- Henry Unger, The Biz Beat

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2 comments Add your comment

Puck Like A Porn Star

June 24th, 2011
7:36 am

Double talk, as always. Here’s hoping Arthur Blank buys the Hawks and arena, and ASG gets the hell out of Atlanta.


city bling

June 27th, 2011
10:57 pm

the city needs to pump some big time cash into the hawks—the owners have run out of cash to get good players. just raise sales taxes a few years to get enough money.