“The Ressler”: Coming Soon, to an NBA Team Near You?

[lethalweapon3]

I’m eager to get a feel for the timetable involved in formally closing on the transaction with Tony Ressler and Friends.

 

Last summer, the Clippers were of course tied up in legal wrangling around the Sterlings, but a judge ruled in favor of Shelly to proceed with the sale on July 28. Ramona Shelburne (ESPN) reported on August 12 that the NBA Board of Governors’ vote to approve the sale occurred electronically the week prior, making it roughly a week’s time in between the judicial green-light and the NBA owners’ vote. According to Shelburne, the owners had already interviewed Ballmer about three weeks prior to voting on the sale.

 

The Bucks’ pending sale to Edens and Lasry was approved by the owners on May 15 of last year, almost exactly one month after Herb Kohl formally announced the agreement. The parties’ closing of the sale occurred in time for one owner’s daughter to grace the stage at the draft lottery just five days after the Governors’ vote.

 

So in just those two cases, we’re looking at a span of five to seven weeks between public announcement and closure of the sale.

 

Ressler’s pending acquisition was announced to the public on April 22. It’s understandable that the timing of the closure would not occur until after the Hawks’ postseason ended. But the Hawks’ presence in the playoffs should not have precluded any interviews with Ressler or a vote by the BoG on the matter.

 

Is it reasonable to expect that those events have already happened, and we won’t see some mad rush after the Finals to convene the other owners? The earlier the new ownership is in place, the sooner everybody can turn to matters of Ferry’s return and negotiations to extend Bud’s contract, which expires after next season.

 

~lw3

Edited May 27, 2015 by lethalweapon3

[Blunt91]

According to Steve Koonin in his Thank you letter to the Hawks fans they will take over next month. Surprised no one here has mentioned they got a thankyou letter from the Hawks Management staff today.

[Guest]

Good info @lethalweapon3.

I guess only season tickets got those letters @Blunt91

[Blunt91]

I only went to one game this year, guess I am special. LOL

[cam1218]

I got the Koonin thank you letter email, it was good stuff. I think it was sent out to season ticket holders and anyone that subscribed to Hawks ticket/general information. Also, thanks LW3 for another informative post!

[Guest]

Can one of you post the letter for the Squawkers.

Thanks.

Edited May 27, 2015 by JayBirdHawk

[cam1218]

Can one of you post the letter for the Squawkers.

Thanks.

Of course. I'm on my phone so I'm not sure if this will turn out well. I added some spacing to make it easier to read and it is missing the Hawks player signatures at the bottom. Anyone that is better at this feel free to post a better version if needed..

True to Atlanta.

When the season started this was our advertising tag line.

While the season unfolded it defined who we became.

Both on and off the court, this was an unprecedented year for our organization. Our vision from the start was to make our city proud and to prove the Hawks were worth Atlantans’ support.

We committed to showing you not only that we love this city, but that we would play hard for it. You made your presence known both at home and away -- all the way to the Eastern Conference Finals. While we fell just short of an NBA championship this year, together we achieved a historic season that we want to celebrate with you -- the fans.

We had the largest increase in attendance in the NBA and sold out Philips Arena 32 of the last 35 games.

We won a franchise-best 60 games, captured the Division Championship for the first time in 21 years and advanced to the Eastern Conference Finals for the first time in Atlanta history.

We had four players named to the Eastern Conference All-Star team - the most ever in club history.

We witnessed Mike Budenholzer named NBA Coach of the Year in just his second season at the helm.

We finished the month of January with a perfect 17-0 record, the most wins in an undefeated month in NBA history, earning our entire starting five the Eastern Conference Player of the Month honors.

We achieved record broadcast ratings on both television and radio, including the top 5 most-watched Hawks basketball games in club history.

We created an awe-inspiring and imposing home court environment, with an Eastern Conference-best 35-6 record at home.

We honored our greatest legacy, Dominique Wilkins, and erected a permanent statue to greet fans and players each time they enter the arena to celebrate his many accomplishments and contributions to our franchise.

This year was the foundation. Next month, our new ownership will be introduced, adding their vision and commitment to our city, our organization and our team provides us great opportunity to continue to build and grow.

We will unveil a dynamic, new franchise brand to mark the beginning of the next chapter in our proud history.

We will enter the draft and free agency looking to build on our team’s already successful foundation and basketball culture.

We will continue to build bridges through basketball, whether by constructing and refurbishing courts in Atlanta neighborhoods, providing scholarships to our basketball camps, or surprising and delighting our fans with unique Atlanta Hawks experiences.

Thank you for being true to the Hawks this season and we look forward to continuing to be True to Atlanta,

[lethalweapon3]

Thanks @Blunt91 and @cam1218!

 

Same version of what cam helpfully posted above, via Koonin's Twitter from about an hour ago.

 

 

 

~lw3

[DrReality]

Class act

[hawkman]

Koonin should be a fixture here from now on.

[macdaddy]

I got the letter too.   I wish i had gone to the airport.

[AHF]

Masterful PR stroke from Koonin.  Talk about putting a better taste in the mouths of some of your most important customers.

[hawkman]

Masterful PR stroke from Koonin.  Talk about putting a better taste in the mouths of some of your most important customers.

This guy has been awesome since he was brought on board.

[Dejay]

He makes you almost forget the Gearon years when he would go off on the radio about fans not selling out the arena every night for a 44-38 club. While winning cure all ills, making the fans feel good about their purchase brings them back...

[lethalweapon3]

On Koonin's probably-final scheduled radio interview just now, he notes the new regime should be in place within "a few days before the draft." So unless the new ownership pulls off a near-simultaneous Ferry return, it sounds like Bud and World Wide Wes Wilcox will be calling the shots at draft-time.

 

~lw3

[macdaddy]

I sure hope Koonin stays on in his role.  And is Gearon actually staying?

[lethalweapon3]

I sure hope Koonin stays on in his role.  And is Gearon actually staying?

 

Gearon stays on as a minority owner. But his input on Ferry will amount to not much more than "Harrumph!"

 

~lw3

[Guest]

On Koonin's probably-final scheduled radio interview just now, he notes the new regime should be in place within "a few days before the draft." So unless the new ownership pulls off a near-simultaneous Ferry return, it sounds like Bud and World Wide Wes Wilcox will be calling the shots at draft-time.

~lw3

Or maybe they've already had their sit down with DF behind the scenes and he's been communicating with Bud and Wes on his burner phone, lol.

Remember that DF took a leave of absence he wasn't suspended, so it wasn't like he was prohibited from interacting with the team. Not saying he has though.

Edited May 29, 2015 by JayBirdHawk

[RandomFan]

http://www.ajc.com/news/sports/basketball/hawks-sale-scheduled-to-be-completed-june-24/nmWg5/

 

Hawks sale scheduled to be completed June 24 (updated)

 

The sale of the Atlanta Hawks to a group led by billionaire Tony Ressler is scheduled to be completed on June 24, a person familiar with the negotiations told the Atlanta Journal-Constitution.

 

An agreement to purchase the Hawks and Philips Arena from the group known as the Atlanta Spirit has been in place since April 22. The sales process was expected to take 4-6 weeks to complete and will be official with the approval of the NBA Board of Governors. The approval can be done by conference call or electronically and is scheduled for the day before the NBA Draft.

 

Ressler, 55, will be the clear majority owner of the franchise with a purchase price of $730 million. The group also includes seven-time NBA All-Star Grant Hill, Clayton Dubilier & Rice partner Rick Schnall, and Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler, who are married. As previously reported by the AJC, current co-owner Michael Gearon Jr. will retain a small stake. BOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!

 

Members of the prospective ownership group, current ownership group and team employees are not allowed to speak about the sale until it is finalized per NBA rules.

[capstone21]

I giess the new uni's will debut around the sa,e time as the new owners taking over