Atlanta Hawks to reportedly be sold for $730M

A group led by Ares Management LP’s co-founder Tony Ressler has won the bidding for the National Basketball Association’s Atlanta Hawks, Bloomberg reported, citing three people familiar with the matter.

The sale price is $730 million, the second highest for an NBA team after Steve Ballmer’s $2 billion purchase of the Los Angeles Clippers, Bloomberg said.

The group will also take on about $120 million in arena debt, one of the people told Bloomberg.

Bill Mendel, a spokesman for Ressler, was not immediately available to confirm the news.

An Atlanta Hawks spokesman declined to comment.

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