Report: Agreements in place for 100 percent sale of Atlanta Hawks
The search for a new Atlanta Hawks owner appears officially set to begin, as there's a reported agreement in place for a 100 percent sale of the team, according to the Atlanta Journal-Constitution's Chris Vivlamore.
Citing a league source, Vivlamore reports the Hawks will go on the market next week after the NBA approved agreements between the franchise's three ownership groups.
Bruce Levenson's Washington-based ownership group will sell its 50.1 percent share of the team, Michael Gearon Jr., Michael Gearon Sr., Rutherford Seydel and Beau Turner's Atlanta-based group will sell its 32.3 percent stake, while Steven Price's New York-based group will sell its 17.6 percent share.
Levenson announced in September he would sell his majority stake after a racially charged 2012 email he wrote came to light.
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