In the wake of the Clippers sale for a shocking $2 billion to Steve Ballmer, it’s has become a guessing game around the league: How much could other teams be sold for?
Right now, for the Atlanta Hawks the number is $800 million.
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 were a number of bidders in the mix and rumors of the bid prices were considerably higher than this. I was told by sources that some of the bids were heavy on foreign money who had teamed up with well known NBA faces to make their offers.
Why would you leak this number now? To try and inspire other bidders who think they can come in over the top. If you believe that bidding is over if a bigger number comes in, well, you haven’t watched the NBA do business much.
That said, this process seems to be nearing a conclusion, just as the Hawks are ready to head into the playoffs as the No. 1 seed.