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Atlanta Mayor Reed: City to play role in new owner search, has spoke to 6 prospective buyers

Kevin Liles / USA Today Sports

As principal owner Bruce Levenson prepares to sell his stake in the Atlanta Hawks after self-reporting a racially insensitive email, the city of Atlanta is looking to be an acting partner in the search for new ownership.

On Tuesday, Atlanta mayor Kasim Reed spoke on the matter at a news conference, saying the city will play a major role in the process:

The city is going to play an important role in the buyer who purchases Mr. Levenson’s interest. Obviously, we have a vital interest as the owner of Philips Arena and the holder of the debt on Philips Arena in making sure that we get a terrific partner in the city of Atlanta. We also have an interest in making sure that the new buyer wants to keep the team in the city and in the city. Let me be clear what that means. In the city and in the city. That means that a prospective owner that receives my support, and I believe the support of the Atlanta City Council, will make a long-term commitment to keep the Atlanta Hawks in the city of Atlanta and will make a long-term commitment not to move the franchise. I want to publically state from the city’s perspective that is going to be our perspective to whomever the prospective owners are.

According to Reed, Levenson owns 24 percent of the Hawks' franchise as an individual. Along with partner Ed Peskowitz and Todd Foreman, Levenson's group owns 50.1 percent of the team, and Peskowitz is confirmed as selling his stake as well. The rest of the team is owned by an Atlanta-based group led by Michael Gearon Jr. and Sr. and Rutherford Seydel.

The NBA has already begun vetting prospective buyers, as many as six of whom have already spoken with the mayor. Among those six are believed to be Hawks legend Dominique Wilkins and music industry lawyer Doug Davis.

In terms of the team's future, Reed said the city has "pretty good capacity" to help keep the team in Atlanta, which will obviously be a primary objective in the new ownership search.

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