Reports: Hawks to be sold to California businessman

[Cobb]

ATLANTA -- The Atlanta Hawks and Philips Arena will be sold to California developer and pizza chain owner Alex Meruelo, but the NBA team will remain in Atlanta, a person familiar with the deal said Sunday.

 

The person spoke on condition of anonymity to The Associated Press because no official announcement has been made. The deal, subject to the approval of the NBA, is to be announced on Monday.

 

Meruelo confirmed the deal to The Atlanta Journal-Constitution, saying "I'm a person who doesn't give up. I want to bring a championship to the city of Atlanta."

 

The Hawks ownership group, led by Michael Gearon Jr. and Bruce Levenson, also recently sold the NHL Atlanta Thrashers to a group that has moved the team to Winnipeg. The Thrashers deal was for a reported $170 million.

 

Meruelo would become the first Hispanic owner of an NBA team, according to the Journal-Constitution. He will have controlling interest of more than 50 percent of the Hawks. He founded La Pizza Loca, which has more than 50 franchised and company-owned restaurants in Southern California.

 

Meruelo also heads The Meruelo Group, a Downey, Calif.-based investment firm, which recently acquired the Grand Sierra Resort and Casino in Reno, Nev., for a reported $42.45 million.

Hopefully he is really about making the team better and not just doing this as an investment.

[ChosenOne]

Well this guy is really in the spending mood.

 

And for those who don't know the Grand Sierra Resort and Casino is a huge casino in Reno NV that has bee bought and sold 5+ times lol

 

http://www.quikbook.com/pics/grand_sierra_resort_reno_exterior_4013.jpg

[?QuestionMark?]

Will fans get free pizza when the Hawks hold their opponents under 100?

 

I wonder how this affects the CBA negotiations. I may be wrong, but I think it was the Hawks management that were part of the owners that were strongly pushing for the lockout and a complete revamp of the CBA.