The Atlanta Hawks have reportedly reached an agreement to sell the team for around $850 million dollars ($730 million for the team itself and $120 million for arena debt). Antony Ressler, a well known equity mogul, is the reported leader of the group that agreed to purchase the Hawks. The group also included former NBA player Grant Hill, who publicly expressed interest in purchasing the Hawks. Spanx founder Sara Blakely is also a part of the group as well as her husband Jesse Itzer. Hill and Ressler were also big bidders for the Clippers last year. The deal still must be approved by the league’s owners, however, this should be of no issue. Bruce Levenson, the majority owner of the Hawks, announced he was selling the team after a 2012 racially charged email got out to the public. Even with all the commotion surrounding the team, the Hawks have still been able to put a great product on the floor. This continued Wednesday night when the Hawks defeated the Nets to take a 2-0 series lead just hours after it was announced the team would be sold. A big question throughout the year is whether GM Danny Ferry will be brought back. While this question is still yet to be answered, Hill and Ferry both being Duke graduates could possibly help his chances. SportsTalkATL.com will keep the fans updated as to when the NBA approves the sale.
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