The deadline for ownership bids was this Tuesday?

[JETSET]

I just saw this random nugget on hoopshype.  This is the first I had heard about a bidding deadline.  Maybe things will start to happen now.

 

 

"The deadline for bids for the Atlanta Hawks was Tuesday and several offers have been made. Top price: $800 million. Controlling owner Bruce Levenson announced in September he was putting the NBA team and the operating rights to Philips Arena up for sale in September."

 

 

 

http://www.forbes.com/sites/mikeozanian/2015/02/27/highest-offer-for-atlanta-hawks-is-currently-800-million/

Edited February 27, 2015 by JETSET

[capstone21]

I hope it is owner(s) that care about winning and not afraid to spend money but yet stay out of the way of the decision making

[AHF]

I hope it is owner(s) that care about winning and not afraid to spend money but yet stay out of the way of the decision making

And that they keep the current management in place!

[hazer]

Hoping it's the Grant Hill Group. First, Grant's a smart guy. Second, pretty sure he'd bring his fellow Dukie Danny Ferry back.

[PSSSHHHRRR87]

Grant Hill would bring back Danny Ferry, but he also is bringing the Colangelo's and Levien with him. As hawksfanatic said, the Colangelo's are GM's at heart and Levien is rumored to be responsible for Memphis firing Hollins. Levien is a big proponent for building a team through analytics, so he and Ferry would be like-minded. At least Hank Aaron is involved with them too, so that signifies the team would indeed stay in Atlanta. Colangelo's and Levien, I fear, would be A$G 2.0.

[capstone21]

Grant Hill would bring back Danny Ferry, but he also is bringing the Colangelo's and Levien with him. As hawksfanatic said, the Colangelo's are GM's at heart and Levien is rumored to be responsible for Memphis firing Hollins. Levien is a big proponent for building a team through analytics, so he and Ferry would be like-minded. At least Hank Aaron is involved with them too, so that signifies the team would indeed stay in Atlanta. Colangelo's and Levien, I fear, would be A$G 2.0.

Yeah, I don't want Colangelo anywhere near this team ... he would not be able to keep his hands out of the decision making process 

[AHF]

Grant Hill would bring back Danny Ferry, 

 

Why does anyone think Grant Hill would be making that call?  Come on.  He has no real financial stake in the team compared to the big dogs and doesn't have the NBA management experience of the Colangelos.  

[Jody23]

Tweet Added - Refresh Page to see it live!

If you don't see the Tweet here AFTER REFRESHING PAGE, then it wasn't entered correctly. Please edit and try again.

Important: If the Tweet doesn't load, please refresh the page before editing the Tweet as it may need to refresh to parse properly

[Jody23]

Mike Ozanian Mike Ozanian, Forbes Staff

Traffic cop at the intersection of money and sports FULL BIO

SPORTSMONEY 2/27/2015 @ 8:51AM |2,983 views

Highest Offer For Atlanta Hawks Currently $800 Million

Share 1 Comment

The deadline for bids for the Atlanta Hawks was Tuesday and several offers have been made. Top price: $800 million. Controlling owner Bruce Levenson announced in September he was putting the NBA team and the operating rights to Philips Arena up for sale in September.

Although Bloomberg reported the offers were around $900 million, a source with knowledge of the bids said that is not accurate. The source, who traded candor for anonymity, said the $900 million figure includes $112 million of bonds remaining on the original $131 million used to finance the construction of the arena.

While revenue (about $12 million a year) from Philips Arena is used to pay off the bonds, the bonds should not be part of the purchase price, or enterprise value, because the Hawks and arena are not collateral for the debt. The bonds are recourse to the Atlanta Fulton County Recreation Authority, which owns the arena.

Including the Philips Arena bonds as part of the enterprise value for bonds and arena would be akin to, say, including the $511 million of bonds used to finance the Barclays Center, the arena run by the owners of the Brooklyn Nets play. Revenue from the Barclays Center is used to make PILOT bond payments but the arena is owned by the state of New York.

Last month, Forbes valued the Hawks and operating rights to the arena at $825 million, 22nd out of the league’s 30 teams. I would not be surprised if the bidding for the Hawks went higher, especially if a very rich individual or group (think Steve Ballmer with the Los Angeles Clippers or Guggenheim with the Los Angeles Dodgers) enters the bidding.

[PSSSHHHRRR87]

But honestly, any ownership group that keeps their hands out of the cookie jar and allows the basketball minds (Ferry and Budenholzer) do their damn job would be accepted in my book... I just don't think Colangelo nor Levien can or will operate in that capacity.

[capstone21]

But honestly, any ownership group that keeps their hands out of the cookie jar and allows the basketball minds (Ferry and Budenholzer) do their damn job would be accepted in my book... I just don't think Colangelo nor Levien can or will operate in that capacity.

I agree with you ... Colangelo is a GM at heart