NBA News Blog – Page 1224 – NBA Blog

Atlanta Hawks reach sale agreement

The Meruelo Group, led by founder Alex Meruelo, and Atlanta Spirit LLC have reached an agreement on the sale of a majority ownership stake in the National Basketball Association’s Atlanta Hawks and the Philips Arena operating rights, it was announced today. Completion of the sale is subject to approval by the NBA Board of Governors and terms of the agreement were not disclosed.

“I am a lifelong basketball fan, a student of the NBA game, and this is a dream come true for me,” stated Alex Meruelo, founder and chief executive officer of the Meruelo Group. “I am committed to winning and look forward to engaging with our wonderful fans, our dedicated season ticket holders, our committed corporate partners and this passionate community. I believe that both the Hawks and Philips Arena have unlimited potential for the future. I am honored to be a part of that future”

With roots dating to 1986, the Meruelo Group is a diversified holding and management company owned and controlled by prominent U.S. Hispanic business executive Alex Meruelo. The Meruelo Group has diverse holdings in banking and financial services, restaurants and food services, construction and engineering, real estate, hotel/casino operations and private equity.

The Atlanta Hawks will remain a long-term tenant of Philips Arena and Alex Meruelo will serve as the Hawks’ Governor to the NBA.

The transaction is expected to close in late 2011, subject to NBA approval and customary closing conditions. In keeping with the terms of their confidentiality agreement and NBA regulations, both parties have agreed not to comment further on the transaction pending a final close.

Nate Robinson attends Seattle Seahawks practice, as a spectator

Danny O’Neil of the Seattle Times reports:

Nate Robinson was at Seahawks practice Saturday morning.

Considering Robinson’s athletic pedigree, that statement requires a further clarification: Robinson was not in the Seahawks’ practice.

The Rainier Beach alum was in sweatpants and a gray top, watching the workouts. There are no plans for Robinson to have a tryout with the Seahawks, but this is the latest in a continuing flirtation with the sport.

Robinson, 27, initially went to Washington on a football scholarship and was a freshman cornerback under Rick Neuheisel in 2002.

Mario Hezonja stands out in FIBA U16 European basketball Championship

Dan Casey of FIBA Europe reports:

Croatian do-it-all forward Mario Hezonja was voted MVP of the U16 European Championship Men after carrying his team all the way to the gold medal.

Hezonja showed his outstanding talent all through the tournament. Not only did he finish 4th in the overall rankings for scoring in the tournament with 20.0 points per game, but his all-round contributions were felt with 8.2 rebounds per game (rank 8th), 2.7 assists per game (rank 20th) and 2.2 steals per game (rank 6th).

Hezonja’s best game came in the quarter-final against Russia with 30 points, 11 rebounds and 4 steals in a performance coach Ante Nazor described as “perfect”. Hezonja followed this up with 24 points, 5 rebounds and 5 assists in the semi-final win over Spain, and scored 21 points and grabbed 10 rebounds in the final win over the Czech Republic.

Open letter from Atlanta Hawks to their fans

The following is an open letter the Atlanta Hawks published to their fans:

To Our Hawks Fans,

Today it was reported that our current owners, Atlanta Spirit LLC, signed an agreement to sell a majority ownership stake in the Atlanta Hawks and Philips Arena operating rights to The Meruelo Group. Completion of the sale is subject to approval by the NBA Board of Governors, which is expected to occur later this year.

Our ultimate goal has always been and will continue to be bringing championship basketball and world class entertainment to Philips Arena and the city of Atlanta. We value and appreciate your support, and look forward to sharing many more unforgettable moments with you, our fans.

Sincerely,

Bob Williams

Bob Williams
President, Atlanta Hawks & Philips Arena

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Atlanta Hawks will be sold, but not moved

ESPN reports:

The Atlanta Hawks and Philips Arena will be sold to California developer and pizza chain owner Alex Meruelo, but the NBA team will remain in Atlanta, a person familiar with the deal said Sunday.

The person spoke on condition of anonymity to The Associated Press because no official announcement has been made. The deal, subject to the approval of the NBA, is to be announced on Monday.

Meruelo confirmed the deal to The Atlanta Journal-Constitution, saying “I’m a person who doesn’t give up. I want to bring a championship to the city of Atlanta.”

The Hawks ownership group, led by Michael Gearon Jr. and Bruce Levenson, also recently sold the NHL Atlanta Thrashers to a group that has moved the team to Winnipeg. The Thrashers deal was for a reported $170 million.

Meruelo would become the first Hispanic owner of an NBA team, according to the Journal-Constitution. He will have controlling interest of more than 50 percent of the Hawks. He founded La Pizza Loca, which has more than 50 franchised and company-owned restaurants in Southern California.

Tim Tucker of the Atlanta Journal-Constitution reports:

Meruelo (pronounced mur-rel-o) said some members of the Spirit group will maintain minority ownership positions but that he will own more than 50 percent and control ownership decisions. He would not be more specific about the size of his stake and would not divulge the price he has agreed to pay for it.

But he said, “I will be in complete control of the team.”

Although his primary residence and business will remain in Southern California,

Meruelo said he plans to spend a lot of time in Atlanta and to buy a home here.

“If you look at my previous … business ventures, I’m very hands-on, and this will be no different,” he said.

Asked if there is any scenario in which he would seek to move the Hawks out of Atlanta, Meruelo said: “Absolutely no. None.”

More from the Atlanta Journal-Constitution:

The Atlanta Spirit Group – initially led by Steve Belkin of Boston, Bruce Levenson and Ed Peskowitz of Washington and Michael Gearon Jr. of Atlanta –- bought the Hawks, Thrashers and Philips Arena rights from Time Warner in 2004. The group soon became mired in a bitter internal fight that pitted Belkin against his partners. A five-year legal battle finally ended in December when the estranged Belkin was bought out by his partners.

The Spirit this summer sold the Thrashers to a Canadian group that moved the team to Winnipeg.

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Turkish team not signing Utah Jazz center Mehmet Okur

Steve Luhm of the Salt Lake Tribune reports:

Utah Jazz center Memo Okur will not sign with Fenerbahce Ulker, an Istanbul-based professional club in his native Turkey.

The team’s general manager denied reports Saturday that his club was pursuing Okur.

Aydin Ors told Salsabasket.net, a basketball website in Turkey, that Fenerbahce Ulker wasn’t planning to sign any new players.

Hours earlier, website MixBasket reported that Fenerbahce Ulker and Okur were negotiating a one-year contract, which would have included an opt-out clause in case the NBA lockout is settled.

Video: Magic Johnson likes Larry Bird. Not then, but now

Los Angeles Lakers legend Magic Johnson and Boston Celtics legend Larry Bird weren’t friends in their playing days. Sure, they respected each other — the same way you might respect a tornado flying towards your home and loved ones — but there was a friendly competitive hatred there.

These days, though, with their playing days long behind them, the memories remain, but feelings of dislike have been left in the past.

Here’s a video clip of Magic Johnson, at a Los Angeles Times-related event, talking about liking Larry Bird:

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Tyson Chandler takes big loss on Chicago-area home sale

The Chicago Tribune reports:

Former Chicago Bulls center Tyson Chandler who was part of this year’s NBA title-winning Dallas Mavericks team, has taken a huge loss on his 20-room, brick-and-limestone mansion in north suburban Northfield, selling it for $2.1 million.

The 7-foot-1 Chandler, 28, took one of the biggest housing losses of any area celebrity in recent years, selling his mansion for slightly more than half of what he paid for it in mid-2006. As the Red Eye newspaper reported in September 2006, Chandler paid $4 million for the mansion — just weeks before he was traded to the New Orleans Hornets after five seasons with the Bulls.

Chandler first listed the three-story mansion in 2007 for $4.99 million, and over the years reduced his asking price many times. Its final asking price was $2.895 million.

Custom-built in 2004 and covering about 11,000 square feet, the six-bedroom mansion has six full baths, two half baths, three fireplaces, a two-story great room, custom travertine and walnut floors, chef’s kitchen with a large breakfast room, wine cellar, a home theater, an exercise room, spa, mudroom, four-car garage, and a first-floor master suite with a large onyx bath. The mansion is on a 0.91-acre parcel.

Chris Mullin impressed with new direction of Warriors

The AP reports:

Chris Mullin harbors no hard feelings toward the Golden State Warriors, and the Hall of Famer says he would go back to work for them under the new regime if the fit were right.

He’s not ruling that out, either. Mullin — set to be enshrined into the Naismith Memorial Basketball Hall of Fame next Friday night — counts new coach Mark Jackson among his close friends. He worked with assistant general manager Bob Myers when Myers was an agent and Mullin was Golden State’s executive vice president of basketball operations.

Jordan Hamilton switches agents

Sam Amick of Sports Illustrated reports:

Denver rookie Jordan Hamilton didn’t even wait until he had signed his first contract to change agents. The former Texas swingman, who can’t sign his deal as the No. 26 pick until the lockout lifts, said Saturday that he had fired agent Arn Tellem recently and was looking for new representation. On Thursday, a source close to him said he has opted to go with Gregory Nunn, who recently opened the basketball division at Premier Sports.