Hawks-Thrashers sale inches closer (AJC)

[ersimo2889]

http://www.ajc.com/sports/content/sports/1203/17sale.html

Hawks-Thrashers sale inches closer

The Hawks' and Thrashers' prospective new owners met with NBA and NHL officials, including commissioners David Stern and Gary Bettman, in New York on Monday and Tuesday and apparently resolved key issues that have stalled approval of the teams' sale by the leagues.

"We had two exceptionally productive meetings and worked through the items that were still open," Boston businessman Steve Belkin, one of the buyers, said Tuesday night.

"We think we made real good progress toward getting this closer to completion.

"We feel we have come to an understanding on most of the items, but now are putting it on paper."

The most crucial item that had been open before the meetings: the personal financial guarantees that both leagues are seeking from the new owners.

While progress was made, the clock is ticking against getting the deal closed by the end of the year, as had been targeted. Before closing, the buyers and the leagues must complete and sign legal agreements, owners in both leagues must vote to approve the sale, and seller Time Warner and the buyers must resolve any remaining business or accounting issues.

"We think it's going to slip a little bit to shortly after the end of the year," Belkin said of closing the transaction.

"We're confident the deal will close soon, but there's no deadline," said Greg Hughes, a spokesman for Turner Broadcasting, the Time Warner division that includes the teams.

Time Warner was represented at this week's meetings with the NBA and NHL, Belkin said.

"We're not concerned about the length of the process," Hughes said, "because league approval is both thorough and time-consuming, especially with two of them to complete."

Belkin and seven other investors signed an agreement to purchase the teams and the Philips Arena rights on Sept. 12, subject to approval of the leagues.

[Plainview1981]

It doesn't really make a differance now..

[Gray Mule]

Should take three months -- Opening statement.

Then, we expect to have everything done before Christmas.

We will have it completed before year's end.

Now, sometime after the first of the year.

December 12. ---- December 25. --- January 1.

And now? Sometime after the new year.

Before the February trade deadline?

We're getting closer!! By the end of the season?

Before the beginning of next season?????

It's hard to finish a race when they keep on moving

the finish line ------

[Plainview1981]

Well it still doesn't mean much until the New owners

backup what they say. I understand they don't have the

team yet, but I will not get my hopes up until they do

something to improve this team.