The Atlanta Hawks will have a 2 p.m. press conference on Monday afternoon to announce the pending sale of the team and Phillips Arena to California businessman Alex Meruelo, the team announced. The press conference will be streamed live on Hawks.com, for those interested in checking it out.
Meruelo is the seventh new owner to join the league in the last two years, and is its first Hispanic owner. There was initially a concern that he might think about moving the team to Anaheim, but the debt he will assume, as well as the NBA's relocation fee, makes that next to impossible. The sale is pending owners' approval, but all indications are it will be approved sometime in 2011, depending on the trajectory of the NBA lockout.