The group led by Grant Hill and Junior Bridgeman were very much in the runnings to purchase the Atlanta Hawks but have decided to withdraw themselves from the bugging process as other front-runners emerge. It’s been reported that a group led by investment managers Steve Kaplan and Mark Rachesky are now viewed as the favorites.
No exact price tag has been set but it is possible that the team could sell for more than $1 billion after the recent success and surging cost of other sports franchises. The Clippers were bought by Microsoft CEO Steve Ballmer for $2 billion and the Kings and Bucks franchises have gone well above their valuations in recent sales.
Forbes currently values the Hawks at $825 million which is 22nd among the NBA’s 30 franchises but the media market is the ninth-largest in the United States.
The Atlanta Hawks currently have a 57-19 record and will have home court advantage throughout the Eastern Conference playoffs.
HT: BleacherReport