Ownership rumor

[macdaddy]

Yahoo's power rankings are out.   NBA has us 4th and Yahoo 7th.  That's a little further down than i thought for the tear we've been on.   Then I saw this:

 

 

 

 

7. Atlanta Hawks (Record: 22-8; last week’s rank: 8): Atlanta’s new ownership search is going very slowly, a source said. Keep an eye on a bid from ex-NBA player Grant Hill, who tried to buy the Clippers.

 

Did I miss this rumor?  I can't find anything about it.   Grant Hill is a good guy and I'm guessing he'd be down with Ferry staying on.   Anyone know anything about this?

[PSSSHHHRRR87]

Yeah, he's a name in the hat along with Chris Webber.

[JETSET]

I would much prefer Hill as an owner than Webber or some of the other people that have been named. 

[AHF]

Neither Hill nor Webber would likely be more than figureheads for an ownership group.

[Plainview1981]

I would much prefer Hill as an owner than Webber or some of the other people that have been named. 

 

Hill would be fine.

[bird_dirt]

Neither Hill nor Webber would likely be more than figureheads for an ownership group.

 

Yeah, and he'd be able to get the whole team a great deal on an AT&T Family plan.

Edited December 29, 2014 by bird_dirt

[DrReality]

We need someone like Hill. He's almost been a poster child for the NBA

[MaceCase]

More "elitests"?

[bumpyphish1]

Grant Hill would be awesome.  I'd love Hill + Nique + investors....

 

Hill and Ferry both played at Duke fwiw.

[AHF]

Hill and Ferry both played at Duke fwiw.

 

Pretty sure that was the genesis of Mace's elitist comment.

 

I've always liked Hill fine but what does he bring to the table?  He wouldn't have the money to pay for 1/100th of the team and its operating expenses.  He is not the piece of this picture that we need to worry about.

[bumpyphish1]

I'm just like saying I'd like him as "face" because he is actually an intelligent guy.  I'm not sure the same can be said for Nique and I know it can not be for Magic Johnson though the media would have you believe differently.

Edited December 30, 2014 by bumpyphish1

[AHF]

I'm just like saying I'd like him as "face" because he is actually an intelligent guy.  I'm not sure the same can be said for Nique and I know it can not be for Magic Johnson though the media would have you believe differently.

 

I agree that Hill is all kinds of likable but I'm kind of in the "who really cares" camp.  I figure that the guy actually writing the checks (i.e., whoever would be using him for a face) is the one I care much more about.  Who is that person, what are their assets, do they want to move the team long-term, are they willing to spend, are they willing to let the GM do his job, do they want to keep Bud, do they want to keep Ferry, etc.?  These are all about 50x more important to me than who they partner with to bolster their PR profile.

Edited December 30, 2014 by AHF

[LamarHampton]

Has it even been formally announced what % of the team is being sold? That makes a huge difference. Last i heard (several months ago) it wasnt definite, but maybe I've missed something.

[AHF]

Has it even been formally announced what % of the team is being sold? That makes a huge difference. Last i heard (several months ago) it wasnt definite, but maybe I've missed something.

 

Still up in the air as far as I know.  Definitely a majority share with Levenson and his crew departing but not clear whether the Atlanta (i.e., Gearon) contingent want to cash out or not.  I strongly suspect that will be a price point decision.  If I were looking to buy the team, I would want a clean sweep of all the ASG remnants going out the door, though.

[frosgrim]

Still up in the air as far as I know.  Definitely a majority share with Levenson and his crew departing but not clear whether the Atlanta (i.e., Gearon) contingent want to cash out or not.  I strongly suspect that will be a price point decision.  If I were looking to buy the team, I would want a clean sweep of all the ASG remnants going out the door, though.

And, I strongly suspect, the reason the search for new ownership is taking so long is that Gearon doesn't want to sell his share.

 

I said this a while ago, but if anyone is expecting this sell to move quickly you are in for a huge disappointment. In every action taken by the ASG they've pretty much had to go to court to get a final resolution. I expect Gearon will file some sort of suit before this is all done.

[frosgrim]

Well it may be the case that Gearon is being a total d*ck right now, but I don't think that is the only hold-up. I strongly suspect the major hold-up is not over a money issue at this point. I think Levenson wants this sale to go on his 2015 transactions so he can adjust for his huge capital gains on his tax bill. He didn't anticipate a sale in 2014, so it's probably safe to assume a lot of his financial decisions were based on holding onto his ownership stake. Possibly he adjusted his 2014 tax bill so he could benefit from the Roster Depreciation Allowance? I'm not entirely sure, but I would think this is a big deal to not only Levenson but also the other partners who may be selling at the moment.

But I do think everyone is in agreement on one thing: f*** Gearon.

Good points on the tax issues. But don't discount the Gearon factor, it is real and it is going to drive the bus for a while.

 

I completely agree on the Gearon statement.

[capstone21]

I just want an owner with deep pockets and wanting a winner on the court

[AHF]

Well it may be the case that Gearon is being a total d*ck right now, but I don't think that is the only hold-up. I strongly suspect the major hold-up is not over a money issue at this point. I think Levenson wants this sale to go on his 2015 transactions so he can adjust for his huge capital gains on his tax bill. He didn't anticipate a sale in 2014, so it's probably safe to assume a lot of his financial decisions were based on holding onto his ownership stake. Possibly he adjusted his 2014 tax bill so he could benefit from the Roster Depreciation Allowance? I'm not entirely sure, but I would think this is a big deal to not only Levenson but also the other partners who may be selling at the moment.

But I do think everyone is in agreement on one thing: f*** Gearon.

That isn't a reason to hold the deal up. After you agree on an amount and the person buying the team, there is plent of due diligence to be done before the sale is finalized. It would have been easy to close in 2015 for tax reasons even with a buyer and price already finalized in October 2014.

[IheartVolt]

I just want an owner with deep pockets and wanting a winner on the court

THIS! IT COULD BE RUPAUL FOR ALL I CARE! As long as he.....err...she will be committed to a good product in the arena

[Vol4ever]

Good points on the tax issues. But don't discount the Gearon factor, it is real and it is going to drive the bus for a while.

 

I completely agree on the Gearon statement.

In regards to tax issues there have been a lot of deductions.  Attendance has been crap the last few years so i'm sure that is a significant write off amount.

 

In addition I don't think there has been a large amount offered for this team, Atlanta is not LA.  These are business folks that know the value of money and are not gonna give the asking price.