Big news for the Atlanta Hawks today—and it has absolutely nothing to do with Ludacris or their first-round playoff series against the Nets.
Even though the Hawks are right in the middle of a playoff push, the team has reportedly been sold by owner Bruce Levenson for somewhere in the neighborhood of $800 million. According to reports, a group headed up by billionaire Tony Ressler has agreed to buy the team:
And while the price hasn't been confirmed yet—ESPN.com is reporting that the actual sale price could be as high as $860 million—the price will be way less than the $2 billion that Steve Ballmer paid for the Clippers in 2014.
It's worth noting that Ressler's group also includes Grant Hill and Jesse Itzler, who, strangely enough, is credited with writing the Knicks' theme song, "Go NY Go," and is the owner of the Marquis Jet private jet company:
If things play out the way we think they will and the Hawks advance far in the playoffs, then this group probably couldn't have picked a better time to buy.
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