Hawks owners initiate sales process

The Hawks owners have unanimously approved a plan to sell the franchise and the operating rights to Philips Arena, the team announced Thursday.

The sale will commence immediately and the Hawks have retained Goldman Sachs & Co. and Inner Circle Sports LLC to advise on the sale.

Atlanta is currently in first place in the Eastern Conference and is off to its best start since 1994-94 when it won its last division championship.

The ‘Atlanta-Journal Constitution’ reports that serval have already expressed interest in buying the team, and according to a source, the process will take several months with a possible April target date. Any buyer must be approved by the league.

Regardless of who buys the team, relocation is not an option. As NBA spokesman Mike Bass told the newspaper Wednesday, "The Atlanta Hawks are not moving to another market."