The NBA issued a statement in regards to the Atlanta Hawks ownership situation after the mutual agreement between the Atlanta Spirit Group and Alex Meruelo to terminate his agreement to buy the Hawks.
"We respect the decision of the parties and are looking forward to watching the continued growth and success that the Hawks have enjoyed, on the court, in the community, and with respect to attendance, sponsorship and television ratings."
Nothing earth shattering in the statement as it was the NBA's Board of Governors that wouldn't approve Meruelo as the new majority owner of the Atlanta Hawks. The hang up reportedly had to do with the league seeking out additional funding that Meruelo had not contemplated in his original deal according to the AJC's Tim Tucker.
A 75 percent vote by the NBA Board of Governors is required to approve the sell of a team but it only goes to a vote after an advisory finance committee signs off on the deal. Meruelo's deal to buy the Hawks never made it to a vote of the Board of Governors.
For more on the Atlanta Hawks ownership situation, be sure to check out Peachtree Hoops.