Atlanta Hawks’ New Owner

Officials with the Atlanta Hawks announced a deal to sell the team for possibly $850 million to a group led by billionaire businessman Antony Ressler.


Ressler, a minority owner in MLB’s Milwaukee Brewers, heads a group that includes former NBA star Grant Hill, Spanx founder Sara Blakely and her husband, entrepreneur Jesse Itzler.

Terms of the deal were not released but a person familiar with the deal, speaking to The Associated Press on condition of anonymity, said Ressler’s group would pay $850 million, including the assumption of debt on the 16-year-old arena.

The deal, which also includes the operating rights to Philips Arena, has reportedly been approved by the NBA’s Board of Governors.