Hawks News (8-22-03)

[HawkTodd]

THE DAILY (8-22-03).

http://www.hoopsworld.com/article_4990.shtml

Atlanta - Want to know why the Hawks' ownership deal is taking so long? Rumor has it David McDavid doesn't have enough money to seal the deal. This rumor hasn't been reported anywhere really, just speculated on Atlanta talk radio.

....................................................................................

Wall St. sees AOL cost savings (8-22-03).

http://cbs.marketwatch.com/news/story.asp?...amp;dist=google

AOL continues to try to cut its debt - which ballooned to $29 billion but has been shaved by a few billion dollars in the past year - by selling off non-core assets. The company is working on completing the sale of its sports teams, hockey's Atlanta Thrashers and basketball's Atlanta Hawks.

....................................................................................

Hawks Take Flight with Stotts and Knight (8-21-03).

http://www.jtthebrick.com/fanclub/nbafans/...BA&id=39226

[Admin]

Oh jeez has Diesel been calling into Atlanta talk radio now? I think that its so funny that because the deal isnt complete yet there are a few uninformed people who jump to conclusions that think its because he doesnt have enough money. Seriously, how can anyone think that a many times over millionare couldnt raise enough money through loans or whatever if a worst case scenario came up and he had to get the money somehow. The ONLY reason that this deal isnt done yet is because AOL-TW is trying to get all the money that their greedy asses can get from McDavid.

[Double_Dribble]

hasn't bee reported anywhere? i have read it in the ajc, other websites, and right here by many posters.

[Lascar78]

it hasn't been reported in the sense that no one claims to have any kind of source or inside info. what you have seen is the ajc and random people online SPECULATING. i.e. just guessing. Just like people speculate on possible trades every day even though the organization never considered them

The only basis for the whole rumor is that the deal is taking forever. that's it. all the other supposed tidbits of info that lead some like diesel to believe mcdavid's broke are events that are completely normal (him selling shares to use the cash, him financing the buy...). The only unusual fact here is how long the sale has taken. Given how poorly AOL has managed this situation from day 1, I don't even know why anyone is surprised. You expect AOL to sell 2 pro franchises and a new stadium in a short amount of time when you've seen them [censored] up every decision they've made related to the hawks since they've owned them? why? they are useless, poorly organized, losing money and greedy. They're probably arguing over every minute detail for days to squeeze every penny they have.

[Diesel]

http://www.jtthebrick.com/fanclub/nbafans/...BA&id=39226

In reply to:

---

The main reason this has been such a slow summer for the Hawks is the supposed sale of the team to David McDavid hasn't come to fruition. Many reasons have been thrown out as to why the sale hasn't been completed. The biggest reason I've heard is money. Apparently, McDavid is about $100 million short of the asking price for the team. With the sale in limbo, making decisions about free agents(i.e. Jason Terry) and going after a top notch head coach (i.e. Rick Carlisle) are more difficult since there is no real head honcho in the organization.

---

say what you want... However, when you look at the whole picture. He's short the money. He's saling everything he owns... AOL is continuing business as Usual.

You tell me...

what is there to say.

if it were Cuban, the deal would have been done. Period.

[Admin]

Oh please, you are quoting a source as your proof from a website called jtthebrick? You need to be on medication Diesel because you are far more clueless than I thought and its a wonder how you function at work if thats your idea of a reputable source. They are no more reputable than you are with your fairy tales of McDavid being 100mil short. I think that I would much rather take the word of McDavid saying its all just the legal matters making this thing drag than from some guy named JT the brick.......man you are a laugh a day, sometimes more Diesel.

[Diesel]

Reputable source or NOT...

How do you explain the HOLD Up??

IN ANY business deal, if the people have the want and the MONEY, the deal goes through Fast...

Let's look at the situation...

AOL wants to sell the team.

McDavid Wants to buy the team.

So what's the problem?

When you make it simple again Dolfan... There's only ONE answer that's possible.

[Admin]

Well I would think that by making it simple you would be able to UNDERSTAND business DIESEL, but I guess not. If you think that selling something for 350 million or whatever the final going rate will be is a simple business deal then you have ALOT to learn. They arent selling something on EBay Diesel, can you not understand that? Unless McDavid came in and totally blew them away with an offer that was twice their asking price (which of course wont happen) then AOL is going to try and nickel and dime him for every cent that they can get. Bottom line when it really comes down to it is that McDavid flat out personally says that the deal is only being held up because of the AOL lawyers then thats what I will believe, not some off the wall website and CERTAINLY NOT YOU.

[Diesel]

Oh, No... Dolfan.

There's no difference in buying a 400 Million dollar team and Buying a 30,000 dollar car. If you have the money, it's really simple.

If I walked onto a car lot with 30,000 dollars Cash... It becomes very simple to buy a car that cost 30,000 dollars. The problem happens when I try to buy a 30,000 dollar Car with 15,000 dollars. Then My credit and earning potential becomes a factor.

It's really that simple.

http://www.hoopshype.com/articles/cuban_wilson.htm

A true owner spares no expense.

A true owner is not tryin to nickel and dime a deal.

There are several references to McDavid having come to the table 95-100 Million dollars Short.

Yet you refuse to believe or to even think along those lines?

Why?

I'll tell you what happen. McDavid has been hungry for a franchise. He was also up for the Dallas Stars, Orlando Magic, New Orlean Hornets, and Charlotte Bobcats... IN all those cases, he didn't put in a strong enough bid.

Well, in this Atlanta deal, He OUT Bid 2 groups. One headed by Checkettes being backed by a Billionaire and another with Kasten, McGuirk, and Turner.

In order to outbid these guys, McDavid had to give a good bid. Probably one he couldn't afford.

[KB21]

Yeah.

I think all the delays are on AOL's part. They are trying to sucker a great business man, and it isn't working. AOL has a history of making terrible business decisions, which is why they are $26 billion in debt as it is. The idea that selling off the so called non-core assets will make a dent in that debt shows their thinking process.

[Lascar78]

"There's no difference in buying a 400 Million dollar team and Buying a 30,000 dollar car. If you have the money, it's really simple."

If you think that's the truth, you're really clueless, I don't even know where to begin. And I don't know why you're obsessed with comparing this to the sale of a car. He's not buying an object which only involves paying one man and exchanging the title. The man is trying to buy 2 pro franchises AND a stadium. Even if all the paperwork was straightforward there are a ton of details such as commercial tie-ins and such, transferral of loans, ownership of logos, transferring everyone's salaries to come from McDavid, etc... Knowing that AOL is who they're buying from, you can expect that the paperwork will be twice as complicated and circular as it needs to be.

There is no authentic reference or inside source saying that, just speculators who THINK that in their opinion McDavid might be short in cash. I mean the sale is taking forever so I guess you gotta make up something to talk about, but still...

[jeddelong]

Explain these articles. They are from real media sources. Are you going to tell me that McDavid is lying? What good does that do him?

http://www.ajc.com/sports/content/sports/0803/14teams.html

http://www.ajc.com/sports/content/sports/c...ker/070703.html

Personally, I think the funniest thing that Diesel believes is that Steve Dieb is going to be the GM of the Hawks (he read that Dieb would be handling day-to-day operations and automatically assumed that meant GM). Hey, imagine how great life would be if you were diesel. You can make anything sound the way you want; you would never get any bad news (unless of course you want it)

[Diesel]

If You think I'm Clueless, I will say what I have ALWAYS said...

We will SEE.

And when we do see, I want you standing in the line of judgement.

[Diesel]

As I have said since about the 100 day mark and up to yesterday...

McDavid does not have all the funds in hand. The deals that your article (especially the first one) mention are deals that had to go through the FINANCE rout. Any time you FINANCE anything, there is going to be Negotiations. My first Statement is that McDavid didn't have the money. My first citation was that McDavid came to the table 95-100 million dollars SHORT.

In essence he came to the deal trying to finance the deal. That's part of the reason why AOL signed on for the extra 15%. McDavid ISN'T a CUBAN type owner. He doesn't have enough to cover the deal so he's trying to finance it.

Going back to what I said YESTERDAY... This is NO different that trying to buy a 30,000 dollar car. IF YOU have 30,000 dollars then it's no problem, the deal happens fast and IN a hurry. However, when you show up with 15,000 and want to finance 15,000 MORE, then Negotiations take place, Credit and other records come into view.

This is NO different. Using Cuban as an example...

When Cuban Bought his shares from Perot Jr., not only did he pay for everything outright, he started Making Changes to the Arena Plans on the very same day the deal was agreed on. That's what you call knowing that the deal is going through. However, McDavid cannot even appoint a coach or GM or see through the resigning of JT. The reason being is because AOL, McDavid and all the lawyers involved are NOT sure if the NBA will still accept the deal after it is done.

My Prediction is that the Hawks Will not have a new owner until Summer 2004.