Mayor weighs in

[DrReality]

Reed: City will be involved in Hawks’ sale  

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By Chris Vivlamore

The Atlanta Journal-Constitution

Atlanta mayor Kasim Reed insists the Hawks will stay in Atlanta even with the pending sale of the controlling interest in the franchise.

Reed spoke on a news conference Tuesday afternoon and said the city will play a role in finding a new owner. Reed said he has spoken to six prospective buyers, all whom have the financial resources to acquire the team.

According to Reed, Bruce Levenson owns 24 percent of the Hawks individually. Together with his partners Ed Peskowitz, who will also sell, and Todd Foreman the Washington group owns 50.1 percent. Reed said the Atlanta contingent of Michael Gearon Jr. and Sr. and Rutherford Seydel intend to keep their stake in the team.

The NBA has hired an investment banking firm to begin vetting prospective buyers. Reed also said he will meet with NBA Commissioner Adam Silver on Sept. 26 to discuss the sale. He expects the process to move quickly.

“The city is going to play an important role in the buyer who purchases Mr. Levenson’s interest,” Reed said. “Obviously, we have a vital interest as the owner of Philips Arena and the holder of the debt on Philips Arena in making sure that we get a terrific partner in the city of Atlanta. We also have an interest in making sure that the new buyer wants to keep the team in the city and in the city. Let me be clear what that means. In the city and in the city. That means that a prospective owner that receives my support, and I believe the support of the Atlanta City Council, will make a long-term commitment to keep the Atlanta Hawks in the city of Atlanta and will make a long-term commitment not to move the franchise. I want to publically state from the city’s perspective that is going to be our perspective to whomever the prospective owners are.”

Reed declined to name the list of prospective buyers.

The press conference was attended by several local civil and human rights activists and Hawks legend Dominque Wilkins. Wilkins said he has an interest in purchasing the Hawks but declined to say whether he was one of the six current prospective buyers.

It was also revealed at the briefing that Wilkins would get a statue outside Philips Arena with the dedication to be March 6, 2015,

Reed did not answer a reporter’s question when asked whether city assistance to the Hawks would include building a new arena

Not sure about this........Your thoughts. 

[GameTime]

 

 

 

According to Reed, Bruce Levenson owns 24 percent of the Hawks individually. Together with his partners Ed Peskowitz, who will also sell, and Todd Foreman the Washington group owns 50.1 percent. Reed said the Atlanta contingent of Michael Gearon Jr. and Sr. and Rutherford Seydel intend to keep their stake in the team.

 

 

[PSSSHHHRRR87]

It was also revealed at the briefing that Wilkins would get a statue outside Philips Arena with the dedication to be March 6, 2015

 

 

Coincides with a home game vs. the Cavs.  Way to make a night out of it, Nique.  Did ya agree to go along with Gearon if it got you your statue?  Not saying that he doesn't deserve it; just seems like bad timing.

[Guest]

 

Sad thing is there could be a possibility that these clowns could be the anchor keeping the team in Atlanta.

 

Still though ... the idea of them staying around ...  I just ...

 

@Dolfan23 was equally perturbed ...

 

@JayBirdHawk was just ... well, see for yourself ...

Edited September 17, 2014 by kg01

[Wretch]

I thought for sure they'd all be gone.  Not happy about any of this ownership group staying on board, no matter how little influence they have.  I was never worried about the team being moved.  The announcement of Nique getting a statue is the most interesting thing to note.  Not because it's awesome (because it IS), but because they're announcing it in the wake of all this controversy.  It would make sense that they're sending a message....especially if the report about Levenson and Ferry blocking the statue is true.

[ATLien_]

Just my opinion, but having a statue of yourself seems weird. Especially while you are living. It seems like something a conceited person would do.

If someone wanted to build a statue of me, then I think I would tell them no. I'd prefer they build a childrens school that teaches how to paint by nimbers and make it rain heat checks. :)

Edited September 17, 2014 by ATLien_

[Diesel]

About the city being involved...  It seems a little overreaching.  They were involved with the Football Arena too.. Right? 

 

About the sale...  An owner with 50.1% will be majority owner.  I think that means that Gearon and Group will be led around by the nose.  I don't think Gearon Jr. and Group will like that at all.

[JTB]

<p><p>Reed: City will be involved in Hawks’ sale

• COMMENT(61)

By Chris Vivlamore

The Atlanta Journal-Constitution

Atlanta mayor Kasim Reed insists the Hawks will stay in Atlanta even with the pending sale of the controlling interest in the franchise.

Reed spoke on a news conference Tuesday afternoon and said the city will play a role in finding a new owner. Reed said he has spoken to six prospective buyers, all whom have the financial resources to acquire the team.

According to Reed, Bruce Levenson owns 24 percent of the Hawks individually. Together with his partners Ed Peskowitz, who will also sell, and Todd Foreman the Washington group owns 50.1 percent. Reed said the Atlanta contingent of Michael Gearon Jr. and Sr. and Rutherford Seydel intend to keep their stake in the team.

The NBA has hired an investment banking firm to begin vetting prospective buyers. Reed also said he will meet with NBA Commissioner Adam Silver on Sept. 26 to discuss the sale. He expects the process to move quickly.

“The city is going to play an important role in the buyer who purchases Mr. Levenson’s interest,” Reed said. “Obviously, we have a vital interest as the owner of Philips Arena and the holder of the debt on Philips Arena in making sure that we get a terrific partner in the city of Atlanta. We also have an interest in making sure that the new buyer wants to keep the team in the city and in the city. Let me be clear what that means. In the city and in the city. That means that a prospective owner that receives my support, and I believe the support of the Atlanta City Council, will make a long-term commitment to keep the Atlanta Hawks in the city of Atlanta and will make a long-term commitment not to move the franchise. I want to publically state from the city’s perspective that is going to be our perspective to whomever the prospective owners are.”

Reed declined to name the list of prospective buyers.

The press conference was attended by several local civil and human rights activists and Hawks legend Dominque Wilkins. Wilkins said he has an interest in purchasing the Hawks but declined to say whether he was one of the six current prospective buyers.

It was also revealed at the briefing that Wilkins would get a statue outside Philips Arena with the dedication to be March 6, 2015,

Reed did not answer a reporter’s question when asked whether city assistance to the Hawks would include building a new arena

Not sure about this........Your thoughts.

My thoughts are that I'm ok with this as long as whoever buys the 50 percent buys it alone!

50 percent compared to gearon jr 24 percent and others smaller percentages mean that 50 percent owner has all the power! There ain't no "lets vote on this"....it's I'm 50 percent owner of this team, meaning I'm MAJORITY owner what I say goes!

since I'm 50 percent owner if I say I don't want to allow the other owners to speak to the media or make comments you must respect and agree to my orders!..:that goes for you especially gearon jr!

See how powerful 50 percent ownership is if bought by ONE person?...who cares if gearon jr is still around...as long as there's someone over him he will never have full control or a lot of power or say so!

What we need is ONE man or woman whose passionate about winning to come in and buy the 50 percent to become majority owner....lay the law down on the ASG in other words let them know "hey y'all don't run shit no more, I make the final say on EVERYTHING because I'm 50 percent owner which means I'm the majority owner of this team..,even if there's a vote I have the final say".... and if all that were to happen I think the hawks could really turn their franchise around.

I wish our HOF could buy the whole 50 percent by himself! I think he could really get stars players to play for the hawks because he will then be the face of the franchise once again.

[bird_dirt]

You all realize that Levenson essentially controlled 50%+ already, right? He was the controlling owner (as the other Washington guys went with him), and that still didn't do anything to keep Gearon from screwing him over.

I don't think the problem will be finding wealthy people who want to buy the team, the problem will be finding people who would want to be partners with Gearon.

[JETSET]

Is that right JTB? Gearon seems to have plenty of power as a minority ownership considering he just destroyed this franchise. Our ownership group was already seen as a joke and now it will be even worse. I dont see any one being eager to join the Hawks organization as long as Gearon is a part of this.

[Guest]

The Mayor said "they would LIKE to keep their shares, not that they WILL.

Please, please for the live that all that is Holy - please get rid of Gearon. It's just not a good look for a new owner to deal with such a snake in the grass.

[TheNorthCydeRises]

I think that press conference indicates that Gearon has a lot more pull with local civic leaders and business people, than Hawk fans can imagine.

He could easily sell them on the fact that the Washington guys are "Atlanta outsiders" who don't operate in the best interest of the city.

A little more sinister is this. The new owner could form an alliance with Gearon.

[Guest]

I think that press conference indicates that Gearon has a lot more pull with local civic leaders and business people, than Hawk fans can imagine.

He could easily sell them on the fact that the Washington guys are "Atlanta outsiders" who don't operate in the best interest of the city.

A little more sinister is this. The new owner could form an alliance with Gearon.

 

This all sounds plausible and also quite demoralizing.  Here's where the NBA should evoke some "good of the game" clause and get Gearon and his cronies outta here.  He's shown he can't be trusted when he's not getting his way.

[DrReality]

If the new owner(s) are minority, which I think the city will ;push, that could make a difference with Gearon. That the city would 

support the new owners, but I agree that he's the problem.  Hope that the commish lends support to the new owners as well. 

I think Gearon is the elephant in the living room and I haven't heard that being addressed as much as the 

issue with Ferry.

Edited September 17, 2014 by DrReality

[Guest]

Within the past year, Atlanta Hawks co-owner Michael Gearon Jr. approached fellow co-owner Bruce Levenson about selling the franchise, two people familiar with the situation told USA TODAY Sports. Levenson wasn't interested in selling but is going to do that now, and with NBA now in a seller's market, Gearon will be in position to cash in on his investment — despite financials losses in the past decade. Gearon understands that if he wants to capitalize, he needs to sell more than just his stake. The Hawks are worth more when a majority of the team is sold. So for the second time in the past few months, an ownership group mired in a controversy over the use of racial language could stand to make a significant amount of money selling the team. In the case of the Hawks, how they got here is a decade of poor judgment, mismanagement and a power play among owners. USA Today Sports - See more at: http://hoopshype.com/rumors.htm#sthash.q8KJpqbU.dpuf

[Guest]

One agent wonders if he can trust Gearon not to record their conversations, and one owner told USA TODAY Sports he would not want Gearon to be Atlanta's controlling owner. Owners are not thrilled about intense scrutiny in a post-Donald Sterling NBA, which is what Gearon invited. USA Today Sports

Atlanta Hawks, Owners, Michael Gearon Jr, Bruce Levenson

- See more at: http://hoopshype.com/rumors.htm#sthash.q8KJpqbU.dpuf

[Guest]

One agent wonders if he can trust Gearon not to record their conversations, and one owner told USA TODAY Sports he would not want Gearon to be Atlanta's controlling owner. Owners are not thrilled about intense scrutiny in a post-Donald Sterling NBA, which is what Gearon invited. USA Today Sports

Atlanta Hawks, Owners, Michael Gearon Jr, Bruce Levenson

- See more at: http://hoopshype.com/rumors.htm#sthash.q8KJpqbU.dpuf

 

Thanks for sharing this.  How is this ok?

 

Gearon recorded the nearly hour-long call but only a brief snippet of the audio has been made available, and there is no full transcript of the call, three people familiar with those details told USA TODAY Sports. The league requested a full transcript, but one was not provided.

[Randy]

I'm really hard pressed to figure out what the city money is supposed to be used for and why its needed.  They already have a great arena (one of the best in the NBA), good parking, Marta access and CNN Center is a great place to go before the games.  I can't figure out what they could do to make the game attendance go up.  I guess they could provide some sponsorship (I think Grady is already a sponsor) or just send the winner of the "multiple billionaire" contest a check each month.  Billionaires like checks.  (Then again, maybe they could pay to have hot dogs $2 off at halftime.  Oh, wait - somebody already thought of that.)  Or put $100 dollar bills into the t-shirts they throw into the crowd. (Another bad idea - the fans would root more for the t-shirts than the team.  I'm striking out here.)

 

Maybe they could fund a research grant at GA Tech to find out how to reverse the aging process, and turn Nique, Kevin Willis, Dikembe and a few others back into 20 year olds.  Or a time machine to go back in time and draft Chris Paul instead of .......

[Guest]

I'm really hard pressed to figure out what the city money is supposed to be used for and why its needed. They already have a great arena (one of the best in the NBA), good parking, Marta access and CNN Center is a great place to go before the games. I can't figure out what they could do to make the game attendance go up. I guess they could provide some sponsorship (I think Grady is already a sponsor) or just send the winner of the "multiple billionaire" contest a check each month. Billionaires like checks. (Then again, maybe they could pay to have hot dogs $2 off at halftime. Oh, wait - somebody already thought of that.) Or put $100 dollar bills into the t-shirts they throw into the crowd. (Another bad idea - the fans would root more for the t-shirts than the team. I'm striking out here.)

Maybe they could fund a research grant at GA Tech to find out how to reverse the aging process, and turn Nique, Kevin Willis, Dikembe and a few others back into 20 year olds. Or a time machine to go back in time and draft Chris Paul instead of .......

On 92.9 The Game they speculated about using the money from the sale of Turner Field to develop the gulch into a transportation hub with the possibility of a new arena over it. Philips will be 20 years old just about when the lease expires. Just speculation though.

[NekiEcko]

On 92.9 The Game they speculated about using the money from the sale of Turner Field to develop the gulch into a transportation hub with the possibility of a new arena over it. Philips will be 20 years old just about when the lease expires. Just speculation though.

 

But who is going to pay for the new arena?  I think that Reed is overreaching here but a new arena that is close to transporation hub with Falcons new stadium nearby would make safer.