The NBA’s Atlanta Hawks have been sold.
Michael Gearon Jr. and Bruce Levenson, heads of the Hawks’ ownership group have agreed to sell the team to Los Angeles based business man Alex Meruelo.
Also included in the transaction will be Phillips Arena, the teams’ 11 year home.
Despite recent team success, the local support for the team was below standard with attendance numbers at 15,648 per game, 22nd lowest in the league last season.
Meruelo is the founder of a Southern California pizza franchise, with over 50 stores located in the L.A. area.
The new owner has already committed himself to the team’s success, saying
“I'm a person who doesn't give up. I want to bring a championship to the city of Atlanta."
The deal is yet to be approved by the league, but should be pushed through in the next 36 hours.
There is no news yet on how the sale may affect the teams’ WNBA affiliate, the Atlanta Dream.
Coming off a 2nd round playoff defeat last season, the Hawks are once again looking to make a deep playoff run. With the current lockout in place there is no telling how successful their offseason will be, but they will likely have limited financial flexibility, having the leagues 6th highest team salary.
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