Advertisement

Responsive Advertisement

THIS IS MAJOR:Hank Aaron bidding for Atlanta Hawks!



Former baseball home run king and Atlanta icon Hank 
Aaron has joined a group of current owners from the NBA, 
Major League Soccer and Italian soccer's storied Serie A 
that is seeking to purchase the Atlanta Hawks, according to 
league sources.

Sources told ESPN.com that the group is spearheaded by 
Memphis Grizzlies minority owner and vice chairman Steve 
Kaplan, Indonesian billionaire sports and media magnates 
Erick Thohir and Handy Poernomo Soetedjo and former 
Grizzlies CEO Jason Levien, who is the current managing 
general partner of DC United in MLS. ‎

The deep-pocketed consortium, sources say, also includes a 
select and diverse group of prominent investors, including 
Aaron and other Atlantans.

Kaplan and Levien declined comment Sunday.‎ Said Allen 
Tanenbaum, Aaron's longtime business adviser, when 
reached Sunday night by ESPN.com: "This is a private 
process and he'd like the private process to play out."‎

After a historic two-decade run of slugging in which he 
shattered Babe Ruth's all-time record by hitting 755 home 
runs, Aaron has ‎spent much of his post-playing career as a 
baseball executive as well overseeing a business portfolio 
that has featured numerous car dealerships and restaurants. 
Sources say Aaron's devotion to Atlanta as a city and his 
longstanding fondness for the Hawks as a basketball fan led 
him to join this group of bidders.

The 1982 Baseball Hall of Fame inductee, whose 715th 
homer in April 1974 ranks as one of the most indelible 
images in the annals of American sport, founded the 755 
Restaurant Corporation with wife Billye in 1995.‎

Kaplan is a co-founder of the leading global investment 
firm Oaktree Capital Group. Widely regarded as a savvy 
private equity investor, Kaplan previously led an 
unsuccessful bid to purchase the San Diego Padres before 
emerging as a member of the ownership group which 
acquired the Grizzlies from the late Michael Heisley.‎
Thohir and Soetedjo, in 2011, became the NBA's first-ever 
Asian owners when they partnered with Levien as members 
of the Josh Harris-led purchase of the Philadelphia 76ers. 
Thohir and Soetedjo currently co-own DC United with 
Levien, while Thohir concurrently serves as majority owner 
and president of Italian soccer giants Inter Milan. All three 
have since sold their respective stakes in the Sixers.‎

Kaplan and Levien worked together in Memphis after 
Levien largely assembled the Pera-led ownership group 
which took over the Grizzlies in June 2012 and promptly 
helped the club reach the conference finals -- and place No. 
1 in ESPN The Magazine's 2013 Ultimate Standings survey 
-- in their first season together.

Levien has a track record of successfully teaming up with 
high-profile athletes and entertainers, having partnered with 
pop star and Memphis native Justin Timberlake and Denver 
Broncos quarterback Peyton Manning in the Grizzlies' 
ownership group, as well actorWill Smith in the Sixers' 
ownership group before that.

The new group featuring Aaron and his partners is the 
second known consortium with certifiable interest in buying 
the Hawks. NBA.com and Bloomberg.com reported earlier 
this week that former NBA stars Grant Hill and Junior 
Bridgeman ‎have teamed with USA Basketball chairman 
Jerry Colangelo and son Bryan Colangelo, two-time NBA 
Executive of the Year, to form a group that also will be 
bidding on the team.
The Hawks officially went on the market this week in the 
wake of the embarrassing revelations last summer 
stemming from the exposure of racially insensitive e-mails 
and conversations within the organization. The scandals 
prompted majority owner Bruce Levenson to immediately 
announce his intention to sell the team in September and led 
to an indefinite leave of absence for general manager Danny 
Ferry, who has been forced to watch from afar while the 
group he has assembled has unexpectedly risen to the top of 
the Eastern Conference on the strength of a 29-8 start.

The Hawks were valued in 2014 by Forbes at $425 million, 
but that figure was issued before Steve Ballmer's purchase 
of the Clippers for a staggering $2 billion in a bidding process that also featured a group led by Hill. The operating 
rights to Phillips Arena are also for sale, but attendance this 
season has still lagged in the bottom third of the league 
despite the Hawks' surprising on-court performance.

The Atlanta Journal-Constitution reported last week that 
100 percent of the franchise will be available to prospective 
buyers, with Goldman Sachs and Inner Circle Sports 
overseeing the sale and vetting interested parties. The 
newspaper reported that April is a potential target for 
finalizing an agreement, with the group that ultimately wins 
the bidding process also requiring NBA approval.

Grant land's Bill Simpson likewise tweeted earlier this 
week about two Seattle-based groups, led respectively by 
Chris Hansen and Thomas Tull, which have expressed 
interest in buying the Hawks to try to relocate the franchise 
to the Pacific Northwest. But the Hawks' current owners, 
league officials and Atlanta Mayor Kasim Reed have been 
adamant about their intent to keep the franchise in Atlanta.

TNT's David Aldridge reported via Twitter earlier this week that the Hawks would have to pay a $75 million fee to the 
city of Atlanta and Fulton County to free themselves from 
the club's lease before 2017. The Hawks, according to a 
2012 SB Nation report, would also have to pay off bonds 
from a 2010 refinancing to be able to move, which would 
also be subject to the NBA's blessing.

Post a Comment

0 Comments