Atlanta Hawks and Philips Arena Sold To Alex Meruelo?

By on Aug 8, 2011 in Basketball, Business, Sports, United States, World Comments
Atlanta Hawks
Atlanta Hawks
Image Credit: NBA.com

NBA team Atlanta Hawks and its home court, Philips Arena, will be sold to Alex Meruelo for an undisclosed amount, as reported at NBA.com on Sunday, August 7, 2011.

According to the report, Meruelo heads the investment firm Meruelo Group in Downey, California that acquired Grand Sierra Resort and Casino in Reno, Nevada. Meruelo is also the founder of La Pizza Loca with 50 franchised and company-owned restaurants in Southern California. He is reportedly getting a 50 percent controlling interest with the Hawks. The current Hawks’ management, called the Atlanta Spirit, is led by Michael Gearon Jr. and Bruce Levenson.

Reports say that despite the change in ownership, the Hawks will be staying in Atlanta.

Subject to the approval of the NBA, the deal will be announced officially on Monday, August 8.

Earlier reports said that the Hawks‘ management has sold the NHL Atlanta Thrashers for $170 million. The Thrashers has then been moved to Winnipeg.



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