The Hawks today announced its owners have unanimously approved a plan to sell the franchise and operating rights to Philips Arena. Atlanta Hawks Basketball & Entertainment has retained Goldman Sachs and Inner Circle Sports to advise on the sale of the properties, which will commence immediately (Hawks). In Atlanta, Chris Vivlamore notes "several prospective buyers have already expressed an interest." Financial records "won’t be available until the sale is official." However, sources said that the list of prospective buyers for the club "includes several high-profile candidates." A source added that some have "already visited Philips Arena." A source said that the process will "likely take several months with April as a possible target date to finalize an agreement." Sources said that those who have "expressed a level of interest" include Grizzlies Vice Chair Steve Kaplan and former Grizzlies CEO Jason Levien, who are "working as part of the same group," as well as former NBAer Grant Hill, former Raptors President Bryan Colangelo and Las Vegas Sands Chair & CEO Sheldon Adelson. Seattle hedge fund manager Chris Hansen and film producer Thomas Tull are reportedly "planning separate offers and each hope to relocate the team to Seattle." But NBA Exec VP/Communications Mike Bass said, “The Atlanta Hawks are not moving to another market.” Sources said that former rapper and entrepreneur Jesse Itzler, who has done some consulting work for the Hawks, is a "prospective investor" (ATLANTA JOURNAL-CONSTITUTION, 1/8).
THE BIDDING STARTS AT...:Vivlamore said, "The most important thing is to get one solid majority owner that’s clear cut the leader of the franchise.” He added of speculation of the Hawks’ sale price: “I’ve been kind of writing that
the floor would start at $600 million and I was told today, ‘You’re way
off,’ that it’s going to be much more than that. There are some people
internally that think it will go for $1 billion.” He added, “The team is
profitable now. That helps with the television contracts and so I think
that’s why you’re starting to see these salaries go up. But certainly, I
would think this franchise is more valuable than say the Bucks. You're
probably looking at starting at $800 million and going up from there.” Vivlamore: “Football season is over and so now basketball kind of steps to the
forefront a little bit. They’ve had a couple sellouts … but they’re
still 24th in the league in attendance.” He added, “The fans are coming.
I think they’re excited about what’s going on here, but the bottom line
is you got to win, in this market especially” (“NBA GameTime,” NBA TV, 1/7).
SWIPER NO SWIPING: GRANTLAND's Rembert Browne wrote some might say that last night's "Swipe Right Night" at Philips Arena, at which fans were encouraged to use dating app Tinder, was a "tacky gimmick, turning the classy act of attending a game of roundball into a first cousin of nightclub radio promo." Browne: "And to that, I say FINALLY. It’s as if the Hawks finally realized they’re based in Atlanta" (GRANTLAND.com, 1/7). The game drew 17,126 fans, up from the 16,015 the team averaged prior to last night's contest (THE DAILY). CNBC’s Joe Kernen asked Bucks co-Owner Marc Lasry, “Were you kicking yourself with not doing the Tinder thing in Milwaukee?” Lasry, laughing, said, “I heard about it. I would say it's nothing we would ever consider” (“Squawk Box,” CNBC, 1/8).
