How Much Did The Hawks Sell For?

The most interesting aspect of LA-based investor Alex Meruelo’s purchase of the Atlanta Hawks is the financial details. Or, more precisely, the fact that “No financial details of the Hawks sale were disclosed.”

The lack of disclosure around this sort of thing should make you suspicious of owners pleading poverty during the ongoing labor controversy. To properly assess the financial state of the league, you need to know not just about accounting profits and losses but about the actual values of the franchises. I have no idea what Meruelo paid for the team and the arena, but it seems likely to me that NBA teams continue to be very expensive to buy! If that’s the case, then the people who own them are sitting on lucrative investments, not losing their shirts to greedy players.