Atlanta Hawks to reportedly be sold for $730M
Dec 15, 2014; Atlanta, GA, USA; Atlanta Hawks guard Kent Bazemore (24) and guard Thabo Sefolosha (25) react of the bench after defeating the Chicago Bulls at Philips Arena. The Hawks defeated the Bulls 93-86. (Dale Zanine-USA TODAY Sports)
A group led by Ares Management LP’s co-founder Tony Ressler has won the bidding for the National Basketball Association’s Atlanta Hawks, Bloomberg reported, citing three people familiar with the matter.
The sale price is $730 million, the second highest for an NBA team after Steve Ballmer’s $2 billion purchase of the Los Angeles Clippers, Bloomberg said.
The group will also take on about $120 million in arena debt, one of the people told Bloomberg.
Bill Mendel, a spokesman for Ressler, was not immediately available to confirm the news.
An Atlanta Hawks spokesman declined to comment.
