Both the Philips Arena and the Atlanta Hawks will probably be sold to a California developer as well as the owner of a pizza chain Alex Meruelo but the team will remain and play for Atlanta according to a person close to the deal. The person who spoke on condition on staying anonymous said that an official statement has not been made yet. The deal is also subject to be approved by the NBA and will be formally announced on Monday. NFL scores
Meruelo had confirmed this deal to a journalist saying “I’m a person who doesn’t give up. I want to bring a championship to the city of Atlanta.” The ownership group of the Hawks are led by Michael Gearson Jr. and Bruce Levenson who also recently sold the NHL’s Atlanta Trashers to a group which moved the whole team over to Winnipeg. The deal was reported to be wroth $170 million.
If Meruelo purchases the NBA team he will become the first Hispanic owner of the team according to the Journal Constitution. He will have much of the controlling interest of over 50% of the Hawks. He is the founder of La Pizza Loca which has over 50 franchises and owns restaurants in Southern California. NFL odds
Meruelo is also the head of the Meruelo Group which is a California based investment firm which has recently acquired the Grand Sierra Resort and Casino in Reno, Nev for over $42.45 million. Gearson had announced this at a news conference that the Thrashers will be sold back on May 31st since the owners were unable to find someone who would keep the team in Atlanta. Gearson had said that there wasn’t a local buyer who has emerged with a good offer. The ownership group also called the Atlanta Sprit had to look beyond Atlanta to find a buyer for the Hawks. But thankfully this time the team would not move. NFL spreads
While the owners have rightfully been criticized by many for not being able to keep the team’s stars which included Ilya Kovalchuk in the team the group was now aggressively pursuing the re-signing of the Hawks stars Johnson, Al Horford and Josh Smith. These heavy hitters will make welcome re additions to the team.