Sources: Hawks On Verge Of Adding Five Minor Investors To Ownership Group
The Hawks "are on the verge of adding five minor investors to their ownership group," and the deal is "in the NBA approval process and likely will be completed by mid-March," according to sources cited by Chris Vivlamore of the ATLANTA JOURNAL-CONSTITUTION. The investors "will not have a significant ownership in the team nor will their additions change the current structure." The additions "were described as 'a plus strategically, but not a big deal.'" The Hawks "could add additional investors in the future." Hawks co-Managing Partner Bruce Levenson said, "We’ve been saying for some time that we’ve been trying to find strategic investors to bring into the organization." The five new investors "have been described as being adept in the digital-content and social-media fields and will offer access to new team sponsorships." The Hawks "currently have an ownership group of seven" (ATLANTA JOURNAL-CONSTITUTION, 3/1).
BRIDGEMAN SPEAKS ON BUCKS: NBA Kings investor Junior Bridgeman, who has been linked to possibly becoming an investor in the Bucks, said that if the franchise "left Milwaukee, it would be like a 'shot in the heart.'" Bridgeman: "It would be devastating." He "declined to confirm his interest in becoming an investor in the team." He added that there are NBA rules that "prevent him from commenting on his dealings with the Bucks because" of his involvement with the Kings. Bridgeman: "Because I'm involved with another franchise, they have some rules against those things. So I can't even touch it without having my tongue cut out" (BIZJOURNALS.com, 3/2).