McDavid reaches agrrement to buy Hawks, Thrashers

[Hawksman]

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David McDavid, a prominent Dallas businessman, has reached an agreement in principle to buy the Atlanta Hawks of the NBA, Atlanta Thrashers of the NHL and Phillips Arena in Atlanta from AOL-Time Warner, sources told ESPN's Jim Gray.

The deal is in the process of being finalized and could be announced by the end of the week, sources said.

However, several AOL-Time Warner officials denied Monday that an agreement has been reached. They also said other potential buyers remain in the running for the teams.

"We're not going to comment on specific rumors regarding the sale of our sports teams, but we are currently speaking with a number of interested parties," company spokesman Greg Hughes told the Atlanta Journal-Constitution. "We don't have a deal with anyone at this time."

Bloomberg News reported Tuesday that former Madison Square Garden president Dave Checketts will "submit two bids" by Friday to buy AOL-Time Warner's pro teams -- one that includes the Braves and one without.

Both bids will also include Philips Arena and Turner South, according to the report. Checketts, also has a bid in to purchase the Dodgers," spent Monday meeting with AOL executives in Atlanta, Bloomberg reported.

McDavid was once a minority owner of the Dallas Mavericks, and had a 12.5 percent stake in the team under primary owner Ross Perot Jr. from 1996-2000, when Mark Cuban bought controlling interest.

McDavid's primary success came by selling cars. McDavid started his first dealership in 1962 at age 19, and went on to become founder and CEO of David McDavid Auto Group, which operates more than a dozen auto dealerships in Dallas, Houston and Austin.

He sold 70 percent of his company to Asbury Automotive Group in 1997.

[Guest]

Is this old news?Do you have a link?

[Hawksman]

Go to espn.com. I am sure they have it in the Hawks section. That is where I got this.