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Atlanta Hawks Sale: Alex Meruelo Deal Terminated, According To Report

Days after Marc Stein reported the sale of the Atlanta Hawks to California businessman was in serious jeopardy, the Atlanta Journal-Constitution is reporting the deal is in fact off. The AJC cites a mutual agreement between Meruelo and the Atlanta Spirit Group, which means ASG will retain control of the franchise moving forward.

Approval of the sale by the NBA had dragged on for quite some time, even as the sale of the 76ers was approved. Meruelo's finances came into question shortly after the sale was announced and again once concerns started to be raised.

For Hawks fans, this means at least one more year of ASG ownership, which is not a good thing, but almost certainly won't lead to the NBA taking control of the Hawks or the team relocating.

Neither the team nor Meruelo has made the news official yet.

We'll miss you, fellow fan of dessert.

For more on the Hawks, head to Hawks blog Peachtree Hoops.

Photographs by coka_koehler used in background montage under Creative Commons. Thank you.