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*According to USA Today Sports, the Atlanta Hawks is in the process of finalizing the sale of the team to a group led by billionaire equity and investment fund manager Antony Ressler.

Ressler’s group, which includes former NBA player Grant Hill and Jesse Itzler, the co-founder of Marquis Jet and BTIG co-founder Steven Starker, will buy the Hawks from Bruce Levenson, Michael Gearon Jr., and other investors for $850 million.

The agreement of the deal is expected to be announced by the end of the week.

Ressler wanted to buy the Los Angeles Clippers a year ago, but his group didn’t want to go as high as Steve Ballmer’s $2 billion offer.

Ressler, a minority owner of the Milwaukee Brewers moved quickly after the Junior Bridgeman-Grant Hill group fell out of the process. But Hill still wanted to be involved and joined Ressler’s group. Hill is expected to have just a small stake in ownership but he must own at least 1%, per a new rule NBA established by current owners.

Source Eurweb.com

Grant Hill To Become A NBA Team Owner?  was originally published on wzakcleveland.com