SB Nation Atlanta - Atlanta Hawks Sale Off, ASG Publicly Committed To Not Selling Teamhttps://cdn.vox-cdn.com/community_logos/46601/atlanta-fave.png2011-12-16T19:16:41-05:00http://atlanta.sbnation.com/rss/stream/20040172011-12-16T19:16:41-05:002011-12-16T19:16:41-05:00Atlanta Hawks Ownership Group Says It Doesn't Want To Sell Team, Despite Selling Team
<figure>
<img alt="" src="https://cdn.vox-cdn.com/thumbor/ubtDnr9CNr48rmmnIJm0Y9_2y-Q=/0x26:400x293/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/47828099/large_atlanta.sbnation.com.minimal.0.png" />
</figure>
<p>The <a href="https://www.peachtreehoops.com/" class="sbn-auto-link">Atlanta Hawks</a> <a href="http://atlanta.sbnation.com/2011/8/8/2351540/atlanta-hawks-sale-alex-meruelo-statement/in/2004017">were sold to businessman Alex Meruelo</a> in August; that sale was later <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/11/4/2538794/atlanta-hawks-sale-termination-atlanta-spirit-group/in/2004017">terminated by the Atlanta Spirit Group</a>, the Hawks' current owners, amid rumors that <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/10/26/2517304/atlanta-hawks-sale-update-alex-meruelo-finances-are-now-in-question/in/2004017">Meruelo did not have the assets necessary to make the sale happen</a>. As such, it makes tons of sense that ASG is now spinning a yarn of commitment to the Hawks, and <a target="new" href="https://twitter.com/#!/ajchawks/status/147814350751666177">claiming it does not want to sell the team</a>.</p>
<p>Michael Gearon, Jr. one of ASG's seven partners, told reporters on Friday that ASG was not looking to sell, saying "If somebody offers you something, you never know, but that's not my goal." Gearon also <a target="new" href="https://twitter.com/#!/ajchawks/status/147791462216630272">cited financial reasons</a> as part of the Hawks' decision to not re-sign <span>Jamal Crawford</span>, said that the Hawks <a target="new" href="https://twitter.com/#!/ajchawks/status/147792299831738368">would be open to adding payroll to put them over the top</a>,, and explained that the Hawks <a target="new" href="https://twitter.com/#!/ajchawks/status/147820398858354688">will receive revenue assistance</a> under the NBA's new collective bargaining agreement.</p>
<p>Basically, the Hawks' ownership group is fully committed to the Hawks, and fully willing to contradict itself at any moment. Enjoy the season, Hawks fans!</p>
<p><i>For more on the Hawks, head to <a href="https://peachtreehoops.com" target="new">Peachtree Hoops</a>.</i></p>
https://atlanta.sbnation.com/atlanta-hawks/2011/12/16/2641733/atlanta-hawks-owner-group-selling-team-quotesAndy Hutchins2011-11-05T08:35:02-04:002011-11-05T08:35:02-04:00NBA Comments On Atlanta Hawks Sale Termination: 'We Respect The Decision'
<figure>
<img alt="" src="https://cdn.vox-cdn.com/thumbor/ubtDnr9CNr48rmmnIJm0Y9_2y-Q=/0x26:400x293/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/47828099/large_atlanta.sbnation.com.minimal.0.png" />
</figure>
<p>The NBA<a href="https://twitter.com/#!/ZachKleinWSB/status/132637729115746304"> issued a statement</a> in regards to the <a class="sbn-auto-link" href="https://www.peachtreehoops.com/">Atlanta Hawks</a> ownership situation after the mutual agreement between the Atlanta Spirit Group and Alex Meruelo to terminate his agreement to buy the Hawks. </p>
<blockquote>
<p>"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."</p>
</blockquote>
<p>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 <a href="http://www.ajc.com/sports/atlanta-hawks/hawks-sale-to-meruelo-1217751.html">according to the AJC's Tim Tucker</a>. </p>
<p>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. </p>
<p><i>For more on the Atlanta Hawks ownership situation, be sure to check out </i><a href="http://www.peachtreehoops.com">Peachtree Hoops</a><i>. </i></p>
https://atlanta.sbnation.com/atlanta-hawks/2011/11/5/2539471/atlanta-hawks-sale-nba-alex-merueloKris Willis2011-11-04T17:07:17-04:002011-11-04T17:07:17-04:00Hawks Sale Termination Confirmed By Atlanta Spirit Group
<figure>
<img alt="" src="https://cdn.vox-cdn.com/thumbor/ubtDnr9CNr48rmmnIJm0Y9_2y-Q=/0x26:400x293/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/47828099/large_atlanta.sbnation.com.minimal.0.png" />
</figure>
<p>Moments after <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/11/4/2538765/atlanta-hawks-sale-alex-meruelo-deal-terminated-according-to-report/in/2004017">the Atlanta Journal-Constitution reported</a> the sale of the Atlanta Hawks to California businessman Alex Meruelo won't happen after all, Atlanta Spirit Group entity <a href="http://www.peachtreehoops.com/2011/11/4/2538784/atlanta-hawks-sale-falls-through-alex-meruelo-asg-mutually-agree-to">Bruce Levenson confirmed the news</a>:</p>
<blockquote>
<p>"The <a href="https://www.peachtreehoops.com/">Atlanta Hawks</a> are no longer for sale," he added. "We're excited to remain as owners of the Hawks and are committed to building on our string of four straight playoff appearances." </p>
</blockquote>
<p>So there you have it. Whenever the NBA lockout ends, the Hawks will be a money-making property of the Atlanta Spirit Group again. We know the ASG wants to leave Atlanta sports after unloading the Thrashers and attempting to sell the Hawks, but they'll have to find a way to win back an audience unimpressed by the exact same kind of playoff appearance year-in, year-out.</p>
<p>Meruelo will be remembered for giving a press conference and then disappearing. We sincerely appreciate his efforts in attempting to change Atlanta pro basketball.</p>
<p><b style="outline-width: 0px; outline-style: initial; outline-color: initial; font-size: 14px; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; color: #333333; font-family: Helvetica, Arial, 'Liberation Sans', FreeSans, sans-serif; line-height: 18px; padding: 0px; margin: 0px; border: 0px initial initial;"><i style="outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; background-color: transparent; padding: 0px; margin: 0px; border: 0px initial initial;">For more on the Hawks, head to <a style="outline-width: 0px; outline-style: initial; outline-color: initial; vertical-align: baseline; background-image: initial; background-attachment: initial; background-origin: initial; background-clip: initial; color: #002c66; padding: 0px; margin: 0px; border: 0px initial initial;" href="http://peachtreehoops.com/">Hawks blog Peachtree Hoops</a>. For more NBA, visit SB Nation's <a href="http://sbnation.com/nba">NBA news hub</a>.</i></b></p>
https://atlanta.sbnation.com/atlanta-hawks/2011/11/4/2538794/atlanta-hawks-sale-termination-atlanta-spirit-groupJason Kirk2011-11-04T16:56:28-04:002011-11-04T16:56:28-04:00Atlanta Hawks Sale: Alex Meruelo Deal Terminated, According To Report
<figure>
<img alt="" src="https://cdn.vox-cdn.com/thumbor/ubtDnr9CNr48rmmnIJm0Y9_2y-Q=/0x26:400x293/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/47828099/large_atlanta.sbnation.com.minimal.0.png" />
</figure>
<p>Days after <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/10/26/2517304/atlanta-hawks-sale-update-alex-meruelo-finances-are-now-in-question/in/2004017">Marc Stein reported</a> the sale of the <a href="https://www.peachtreehoops.com/" class="sbn-auto-link">Atlanta Hawks</a> to California businessman was in serious jeopardy, the Atlanta Journal-Constitution is <a href="http://www.ajc.com/sports/atlanta-hawks/hawks-sale-to-meruelo-1217751.html">reporting the deal is in fact off</a>. The AJC cites a mutual agreement between Meruelo and the Atlanta Spirit Group, which means ASG will retain control of the franchise moving forward.</p>
<p>Approval of the sale by the NBA had <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/10/19/2500329/atlanta-hawks-sale-nba-lockout/in/2004017">dragged on for quite some time</a>, even as the sale of the <a href="https://www.libertyballers.com/" class="sbn-auto-link">76ers</a> was approved. Meruelo's finances came into question shortly after the sale was announced and again once concerns started to be raised.</p>
<p>For Hawks fans, this means at least one more year of ASG ownership, <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/10/26/2517375/atlanta-hawks-sale-no-alex-meruelo-deal-means-another-year-of-the/in/2004017">which is not a good thing</a>, but almost certainly <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/10/27/2517776/atlanta-hawks-sale-alex-meruelo-nba-ownership/in/2004017">won't lead to the NBA taking control</a> of the Hawks or <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/6/24/2241349/could-the-atlanta-hawks-move-no-and-heres-why/in/2004017">the team relocating</a>. </p>
<p>Neither the team nor Meruelo has made the news official yet.</p>
<p>We'll miss you, <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/8/8/2351789/hawks-owner-alex-meruelo-twitter-desserts">fellow fan of dessert</a>.</p>
<p><b><i>For more on the Hawks, head to <a href="http://peachtreehoops.com">Hawks blog Peachtree Hoops</a>.</i></b></p>
https://atlanta.sbnation.com/atlanta-hawks/2011/11/4/2538765/atlanta-hawks-sale-alex-meruelo-deal-terminated-according-to-reportJason Kirk2011-10-27T08:15:05-04:002011-10-27T08:15:05-04:00Could Alex Meruelo's Finances Force The NBA To Take Over The Atlanta Hawks?
<figure>
<img alt="" src="https://cdn.vox-cdn.com/thumbor/ubtDnr9CNr48rmmnIJm0Y9_2y-Q=/0x26:400x293/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/47828099/large_atlanta.sbnation.com.minimal.0.png" />
</figure>
<p>If prospective <a class="sbn-auto-link" href="https://www.peachtreehoops.com/">Atlanta Hawks</a> owner <a href="http://atlanta.sbnation.com/atlanta-hawks/2011/6/23/2239976/atlanta-hawks-sale-selling-news">Alex Meruelo is found to be unfit</a> by the NBA, might the league step in and take on the team itself, as it's done with the <a class="sbn-auto-link" href="http://www.sbnation.com/nba/teams/new-orleans-hornets">New Orleans Hornets</a>? It's clear the Atlanta Spirit Group wants to dump the property by any means necessary, and if Meruelo can't afford it, there might not be many other dessert-lovers with the means and patience to straighten out the ASG's mess in a rotten economy <i>and</i> following games missed due to a lockout.</p>
<p>I asked SBNation.com's Tom Ziller, who knows more about NBA economics than do you and I and all our friends combined:</p>
<blockquote>
<p>The NBA did not enjoy being forced to take over the New Orleans Hornets, and will not be seeking any more franchises for its cupboard.</p>
<p>New Orleans was a special circumstance: George Shinn was reviled by nearly everyone, he was about to go broke and he had legit offers to sell the team to out-of-towners (like billionaire Larry Ellison) who would have almost immediately filed to relocate. The NBA has made a big deal out of its commitment to New Orleans, and the league clearly believes the market can thrive with the right owner and a nice little bond package from the state. </p>
<p>Atlanta's obviously different: while no one enjoys the Spirit's continued existence, there's no chance the Hawks are leaving, and it's unlikely the individual spokes of ASG will let the team go broke. If Meruelo falls through and ASG has to hang on until Gucci Mane gets the appropriate investors in line, they will likely just do it, perhaps stripping expenses Paul Allen-style on the way. (So long, <span>Marvin Williams</span>.)</p>
<p>I don't think the league will get involved beyond denying Meruelo, except to help connect ASG to a well-funded buyer. </p>
</blockquote>
<p>So if Meruelo hasn't sold sufficient pizzas to earn the right to pay <span>Joe Johnson</span>, we're stuck with the Atlanta Spirit Group again. But better an ASG-riddled local NBA franchise than no NBA franchise at all, right y'all?</p>
<p><b><i>For more, visit <a href="http://peachtreehoops.com">Hawks blog Peachtree Hoops</a>.</i></b></p>
https://atlanta.sbnation.com/atlanta-hawks/2011/10/27/2517776/atlanta-hawks-sale-alex-meruelo-nba-ownershipJason Kirk2011-10-26T20:30:13-04:002011-10-26T20:30:13-04:00Atlanta Hawks Sale: No Alex Meruelo Deal Would Mean Another Year Of The Atlanta Spirit
<figure>
<img alt="" src="https://cdn.vox-cdn.com/thumbor/ubtDnr9CNr48rmmnIJm0Y9_2y-Q=/0x26:400x293/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/47828099/large_atlanta.sbnation.com.minimal.0.png" />
</figure>
<p>The impending sale of the <a class="sbn-auto-link" href="https://www.peachtreehoops.com/">Atlanta Hawks</a> to California businessman Alex Meruelo may be in jeopardy, <a href="http://espn.go.com/nba/story/_/id/7153495/sale-atlanta-hawks-alex-meruelo-jeopardy-sources-say">according to a report by ESPN NBA writer Marc Stein</a>. The downside to this development is that Hawks fans would once again be subjected to a year under the Atlanta Spirit Group. </p>
<p>The ASG has gone to great lengths to maintain the status quo with the Hawks the past few seasons. They have focused on re-signing core pieces while maintaining a commitment to keep the team in the playoffs. Despite numerous reports suggesting that the Hawks franchise was for sale, the ASG often denied such talk. That talk can't be denied anymore, and the embattled group would likely just look for another buyer if the Meruelo sale falls through. </p>
<p>That means another season of no change and no direction. What will take place is just maintaining what is already there until another potential buyer comes along and sees an opportunity to remake the franchise using his vision. The cupboard isn't bare with the Hawks, but the clock is ticking on this group, and finances dictate that a significant roster move be made sooner rather than later. </p>
https://atlanta.sbnation.com/atlanta-hawks/2011/10/26/2517375/atlanta-hawks-sale-no-alex-meruelo-deal-means-another-year-of-theKris Willis2011-10-26T19:24:24-04:002011-10-26T19:24:24-04:00Atlanta Hawks Sale Update: Alex Meruelo's Finances Reportedly Now In Question
<figure>
<img alt="" src="https://cdn.vox-cdn.com/thumbor/ubtDnr9CNr48rmmnIJm0Y9_2y-Q=/0x26:400x293/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/47828099/large_atlanta.sbnation.com.minimal.0.png" />
</figure>
<p>When Los Angeles business Alex Meruelo had reached an agreement to purchase the <a href="https://www.peachtreehoops.com/" class="sbn-auto-link">Atlanta Hawks</a> franchise and become the majority owner, fans of the Hawks envisioned the franchise turning around in a similar fashion of a Mark Cuban, Jerry Jones or even hometown hero Arthur Blank.</p>
<p>Unfortunately for Meruelo, who was set to be the first Latino owner in the NBA, the question has arisen if Meruelo indeed has the sufficient funds to purchase a majority stake in the Atlanta Hawks, <a href="http://espn.go.com/nba/story/_/id/7153495/sale-atlanta-hawks-alex-meruelo-jeopardy-sources-say">according to a report by ESPN's Marc Stein</a>. The NBA declined comment when asked about Meruelo and the Hawks' situation on Wednesday.</p>
<p>Meruelo released a statement on Wednesday stating the following:</p>
<p>"I have more than ample resources to purchase and operate the Hawks in a first-class manner. I am committed to the purchase of the Atlanta Hawks. While I can't comment on the details of the approval process, I have and will do everything I can to bring the process to a positive conclusion."</p>
<p> It was initially thought that the sale of the Hawks was slowed due to the ongoing labor negotiations between the players and the owners. However, issues with Meruelo's deal was mentioned Tuesday as the Board of Governors gathered in New York City to speak on revenue-sharing options.</p>
<p>While it was mentioned that the Hawks' sale had stalled, it did not prevent the league from announcing the approval of the sale of the <a href="https://www.libertyballers.com/" class="sbn-auto-link">Philadelphia 76ers</a> from from Comcast-Spectacor to be purchased by Joshua Harris, a private-equity billionaire.</p>
https://atlanta.sbnation.com/atlanta-hawks/2011/10/26/2517304/atlanta-hawks-sale-update-alex-meruelo-finances-are-now-in-questionEddie Maisonet2011-10-19T10:40:12-04:002011-10-19T10:40:12-04:00Atlanta Hawks Sale Yet To Be Approved By NBA
<figure>
<img alt="" src="https://cdn.vox-cdn.com/thumbor/ubtDnr9CNr48rmmnIJm0Y9_2y-Q=/0x26:400x293/1310x873/cdn.vox-cdn.com/uploads/chorus_image/image/47828099/large_atlanta.sbnation.com.minimal.0.png" />
</figure>
<p>Since the announcement of the <a href="https://www.peachtreehoops.com/" class="sbn-auto-link">Atlanta Hawks</a>' sale from the Atlanta Spirit Group to Los Angeles businessman Alex Meruelo, the NBA's Board of Governors has officially approved a just-completed sale of the <a href="https://www.libertyballers.com/" class="sbn-auto-link">Philadelphia 76ers</a>, yet the Hawks' future has seemed to have stalled.</p>
<p>Neither the Spirit Group nor Meruelo is speaking about what's held up the approval process, but using the Spirit Group's initial acquisition of the Hawks and defunct Atlanta Thrashers from Time Warner seven years ago as an example, <a href="http://www.ajc.com/sports/atlanta-hawks/nba-approves-76ers-sale-1205048.html?cxtype=rss_hawks">the AJC speculates</a> that it's an issue of money:</p>
<blockquote>
<p>While Meruelo and Atlanta Spirit decline to comment on the sale approval process, citing NBA rules, the Spirit’s 2004 purchase of the Hawks and Thrashers from Time Warner provides a case study of the complications than can ensnare such deals, particularly when money-losing franchises are involved.</p>
<p>As a condition of approval in 2004, the NBA and NHL required several Spirit partners to put up tens of millions of dollars in personal financial guarantees to ensure liquidity to guard against potential future team losses. The buyers eventually satisfied the requirement, but doing so forced a complex reworking of the deal.</p>
</blockquote>
<p>Because of the still-pending sale, the Hawks are being officially represented by the Spirit Group at all league meetings pertaining to the Lockout.</p>
https://atlanta.sbnation.com/atlanta-hawks/2011/10/19/2500329/atlanta-hawks-sale-nba-lockoutSteven Godfrey