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DLA Piper advises Atlanta Hawks on sale to investment group

24 Apr 2015

DLA Piper advised the owners of The Atlanta Hawks on the sale of the NBA franchise to an ownership group led by Tony Ressler, co-founder of Ares Management. The group also includes seven-time NBA All-Star Grant Hill, Clayton Dubilier & Rice partner Rick Schnall, Spanx founder Sara Blakely, and Marquis Jet co-founder Jesse Itzler. The transaction, which was announced April 22, includes operation of Philips Arena, and requires the approval of the NBA Board of Governors.

Charles H. Baker, a partner who heads the Sports M&A group of DLA Piper's Global Media, Sports and Entertainment practice, led a team which included associates Richard Rubano, Alex Steinberg, and Caleb Ginsberg, all in New York. Baker was retained by the Hawks in January, together with Goldman Sachs and Inner Circle, to sell the team. He also led the DLA Piper team that advised the Atlanta Spirit Group in the sale of the Atlanta Thrashers and their relocation to Winnipeg, Ontario.

Matter Type
Asset Sale: Seller's Counsel
Industry
Sport & Leisure
News Category
M&A
Real Estate & Construction