The proposed sale of the Atlanta Hawks to Los Angeles businessman Alex Meruelo has hit a significant snag in the NBA approval process, according to people familiar with the situation.

It not clear at the moment whether the deal, announced Aug. 7 subject to NBA approval, will get completed.

“I have more than ample resources to purchase and operate the Hawks in a first-class manner,” Meruelo said in a statement provided to The Atlanta Journal-Constitution tonight.

– Reported by Tim Tucker of the Atlanta Journal-Constitution