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Hawks Unrestricted After Belkin Ruling

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AHF Grand Master

AHF

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From the Atlanta Business Chronicle:

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With a Maryland Court of Special Appeals' ruling on Tuesday, the Atlanta Spirit LLC ownership group of the NBA's Hawks and the NHL's Thrashers no longer have restrictions upon the length of contracts in which they can enter, according to Bruce Levenson, one of the owners.

Previously, estranged owner Steve Belkin had a court order that allowed him to approve or deny contracts longer than four years.

The ruling affects two All-Star players in particular, the Hawks' Josh Smith and the Thrashers' Marian Hossa. Both have contracts that expire after the 2007-08 season and the market for each could exceed four years.

"Yes, it does remove all the restrictions the lower court judge placed on us," Levenson said in an e-mail.

A Montgomery County (Md.) Circuit Court had previously granted Belkin the right to buy out his fellow owners for the right to the two organizations and Philips Arena, pending appeal.

Tuesday's decision reversed that. Now, the non-Belkin owners again have the opportunity to buy out Belkin. The group ceased to function as a cohesive unit after a disagreement involving the Hawks' proposed sign-and-trade acquisition of Joe Johnson. Belkin, in his role as NBA governor, had tried to veto the deal that general manager Billy Knight had agreed to and which the other owners, who owned a majority stake in the group, supported.

However, their proposed buyout of Belkin has led to a lengthy and messy court battle.

Agent Brian Dyke, who represents Smith, offered no comment on the developments.

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AnakinJoe Newbie

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This is VERY good news, although I doubt these remaining owners will have the cash to spend freely (even if they wanted to). Belkin brought 30% to the table, that's not chump-change. But it is good to know that if they can raise some funds through raffles, bake sales and car washes, that they are free to improve the team with no current restrictions (although you do know that Belkin will file another injunction if they make a move over the soft salary cap)?

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exodus Newbie

exodus

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Anyway, I knew this Atlanta Spirit thing was headed for divorce court within 24 hours of its first news conference. That’s because Belkin left an Alexander Haig message on my answering machine.

To paraphrase, “Contrary to what was said in the news conference that all eight of us are equal in ownership with the Hawks, I’m more equal than the others.”

Did I say the Hawks should have one owner?

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bonethugz Newbie

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Just the fact the AJC sports writers of all people wouldn't ask a question that sports fans want to know (if the handcuffs are taken off of Billy Knight to make moves)is puzzling to me. Sekou is the homie, but shame on Tim Tucker.

or in other words, there's no excuse for knight to sign(ie speedy) or not to sign somebody. great news. not sure now if we're the poorest/cheapest team in the whole nba

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DrReality Rookie

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I don't think the sports writers at the AJC are as smart as the guys writing for the Atlanta Business Chronicle from a legal perspective. Plus The Atlanta Business Chronicle got their info straight fomr a direct email from one of the current owners.

Quite a slap in the face to the AJC. And by the way . . . . notice he did not call up any of the talk radio shows in town. We can begin the countdown now for training camp.

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Diesel Grand Master

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I have to say that in my heart, I want us to resign Smoove and make some moves that makes sense that may get us a long term player... However, I believe that our owners were not fazed by the restrictions. In fact, the restrictions gave them a reason to be cheap. I don't think we will go willy nealy with our signings and trades. I expect us to maybe sign Smoove but only after hard negotiations. I also think we may make some cap cutting trades but I doubt we trade our ending contracts for a long contract.

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