The NBA has approved the addition of five minor investors to the Hawks ownership group. The official approval came last week.
The Atlanta Journal-Constitution reported earlier this month that the deal was nearly completed and only needed league approval.
The investors do not have a significant ownership in the team nor do their additions change the current structure.
The team did not announce the addition of the investors or their identities. The five new investors have been described as being adept in the digital content and social media fields and will offer access to new team sponsorships.
The Hawks currently have an ownership group of seven with Bruce Levenson serving on the NBA’s Board of Governors.
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