The Atlanta Hawks are the number one team in the Eastern Conference, they play their hearts out and play like a team. There has been so much hype around them and how dramatically they’ve improved that this team is top news for this years NBA season. Last year, due to the remarks of owner Donald Sterling, Sterling was banned from the NBA and the Los Angeles Clippers were sold for over $2 Billion Dollars.
Now the Atlanta Hawks are for sale. According to a report on Forbes Magazine:
The deadline for bids for the Atlanta Hawks was Tuesday and several offers have been made. Top price: $800 million….
Although Bloomberg reported the offers were around $900 million, a source with knowledge of the bids said that is not accurate. The source, who traded candor for anonymity, said the $900 million figure includes $112 million of bonds remaining on the original $131 million used to finance the construction of the arena.
There are many other factors that are a part of buying a sports franchise, but the number one thing is probably the capability of the team and the market for the team. After seeing the Clippers sell for $2 Billion, I’m surprised that $800 Million is the highest offer they’ve received so far. I can definitely see the Hawks getting way higher bids in the near future.
