Hawks, Ressler Agree on $850 Million Sale for NBA Team
ATLANTA (AP) — A group headed by billionaire Antony Ressler has agreed to purchase the NBA's Atlanta Hawks.
The team announced the deal Wednesday night during the first half of the Hawks' playoff game against the Brooklyn Nets.
The sale price was not released. But a person familiar with the deal, speaking to The Associated Press on condition of anonymity because the two sides did not reveal that information, said Ressler's group would pay $850 million.
Former NBA star Grant Hill and Spanx founder Sara Blakely are part of the group.
The Hawks went on the market after discovering an inflammatory email written by co-owner Bruce Levenson in 2012, complaining about the racial makeup of the team's fans. It came on the heels of Donald Sterling's forced ouster as Los Angeles Clippers owner.
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