Power Breakfast: Sale of Atlanta Hawks heating up, Georgia jobless rate up, immigration, Beverly Hall, Emory, Chick-fil-A

There’s interesting news on the sports business front today.

Efforts by the Atlanta Spirit ownership group to sell a majority stake in the Hawks have accelerated since the group’s sale of the Thrashers last month, AJC writers Chris Vivlamore and Tim Tucker report.

People familiar with the process say representatives of a potential buyer are doing due diligence — examining financial records — as the process moves toward a possible offer and more detailed negotiations for the basketball team and Philips Arena operating rights, the reporters write.

The people familiar with the situation would not identify the potential bidder because of confidentiality agreements, but described the process as moving fast, the reporters write. They said no offer or exclusive negotiating agreement is in place but that the potential bidder, who might have partners, has the financial wherewithal to complete a transaction.

The potential buyer has accountants and lawyers working extensively on the matter, the reporters write.

Also in the AJC:

In other media:

- Henry Unger, The Biz Beat

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3 comments Add your comment

Mike

July 21st, 2011
8:33 am

Maybe whomever buys the Hawks will move them out of town, too. The NBA is a bunch of thugs!

MoMoney

July 21st, 2011
10:39 am

Hopefully, the new owners move the team to vegas!!! We need the nba bad!!

PatrickC

July 21st, 2011
12:13 pm

Hopefully the new owners will figure out a way to get rid of Joe Johnson’s contract and sign an actual star. To get fans excited here a well known quality player needs to be added to the lineup. Atlanta is a transplant city, and anyone willing to get into watching basketball is not going to feel any attachment to a team with a bunch of no names.