Atlanta mayor Kasim Reed insists the Hawks will stay in Atlanta even with the pending sale of the controlling interest in the franchise.
Reed spoke on a news conference Tuesday afternoon and said the city will play a role in finding a new owner. Reed said he has spoken to six prospective buyers, all whom have the financial resources to acquire the team.
According to Reed, Bruce Levenson owns 24 percent of the Hawks individually. Together with his partners Ed Peskowitz, who will also sell, and Todd Foreman the Washington group owns 50.1 percent. Reed said the Atlanta contingent of Michael Gearon Jr. and Sr. and Rutherford Seydel intend to keep their stake in the team.
The NBA has hired an investment banking firm to begin vetting prospective buyers. Reed also said he will meet with NBA Commissioner Adam Silver on Sept. 26 to discuss the sale. He expects the process to move quickly.
“The city is going to play an important role in the buyer who purchases Mr. Levenson’s interest,” Reed said. “Obviously, we have a vital interest as the owner of Philips Arena and the holder of the debt on Philips Arena in making sure that we get a terrific partner in the city of Atlanta. We also have an interest in making sure that the new buyer wants to keep the team in the city and in the city. Let me be clear what that means. In the city and in the city. That means that a prospective owner that receives my support, and I believe the support of the Atlanta City Council, will make a long-term commitment to keep the Atlanta Hawks in the city of Atlanta and will make a long-term commitment not to move the franchise. I want to publically state from the city’s perspective that is going to be our perspective to whomever the prospective owners are.”
Reed declined to name the list of prospective buyers.
The press conference was attended by several local civil and human rights activists and Hawks legend Dominque Wilkins. Wilkins said he has an interest in purchasing the Hawks but declined to say whether he was one of the six current prospective buyers.
It was also revealed at the briefing that Wilkins would get a statue outside Philips Arena with the dedication to be March 6, 2015,
Reed did not answer a reporter’s question when asked whether city assistance to the Hawks would include building a new arena.
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