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Lionsgate's Rachesky, Sparked By Relationship With Braves' Malone, Will Bid On Hawks

Lionsgate Entertainment Chair Mark Rachesky, a "noted distressed-asset investor, has emerged as the most recent bidder" for the Hawks, according to sources cited by Marc Stein of ESPN.com. Sources said that Rachesky is a "close associate" of Liberty Media Chair and Braves Owner John Malone, which "sparked Rachesky's interest in the Hawks." Sources said that his close ties to Malone have "led some city officials to wonder whether Rachesky's bid for the Hawks, if successful, would ultimately lead to the NBA franchise pursuing a move out of its downtown Philips Arena home to an Atlanta suburb." Sources added that reps from Goldman Sachs and Inner Circle Sports, the companies "chosen by the Hawks' outgoing ownership to oversee the sale and screen interested parties," over the next two weeks "will be meeting directly with groups that have made nonbinding bids." Binding offers "would then follow." A source said that at least one of the interested groups "has made its willingness known" to pay in excess of $900M for the team. Rachesky's bid is "expected to include a handful of minority investors," including Rays investor Randy Frankel, BTIG co-Founder Steven Starker and Marquis Jet co-Founder Jesse Itzler, who is a "former rapper and recent Atlanta transplant." Sources said that Basketball HOFer Dominique Wilkins is also "expected to be a prominent member of a bid for the Hawks, though it remains to be seen" whether he will "make a run at the team with his own group" (ESPN.com, 3/4).

HE'S A ROCKET MAN: In Atlanta, Michael Cunningham noted Rockets F Josh Smith on Tuesday night after playing the Hawks called their fans "fickle" and "bandwagoners." This "isn’t surprising because Smith spent part of his final two seasons with the Hawks complaining about what he considered the city’s lack of support for the team." The bandwagon insult "is an old one for Atlanta pro sports fans and Smith, no doubt feeling stung by the jeers in his hometown, used it to throw some shade." Of course, there is "some truth to what Smith is saying about Atlanta fans." The Hawks are now "offering something the people want and, as a result, attendance and television ratings are up." Smith is "right that the Hawks now have more bandwagon fans but it’s more accurate to say they have more consumers of their improved product" (AJC.com, 3/4). ESPN’s Michael Smith said, “Their attendance has been great this year because they finally have a great team, not a team that’s going to go out in the first round” (“Around The Horn,” ESPN, 3/4). ESPN’s Tony Kornheiser said, “I’ve been on the record for many years as saying that Atlanta fans are terrible. They are historically terrible.” ESPN’s Michael Wilbon: “That fan base has been a joke. They don’t come out. They need hook-up promotions to come to the game" (“PTI,” ESPN, 3/4).

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