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.
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