Oct. 27 (Bloomberg) -- The proposed sale of the Atlanta Hawks National Basketball Association team to Los Angeles pizza franchiser Alex Meruelo may be off, the Atlanta Journal-Constitution reported, citing people familiar with the situation that it didn’t identify.
Meruelo’s August agreement to buy the club from Atlanta Spirit LLC hasn’t been approved by the NBA’s Board of Governors as the league seeks assurances that Meruelo has enough money to operate the club, the newspaper said.
Meruelo said in a statement to the newspaper that he had the financial resources to run the team in a “first-class” manner and expected to complete the purchase.
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