Local experts discuss sale of Hawks - CBS46 News

Local experts discuss sale of Hawks

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ATLANTA (CBS46) -

Jerry Caldwell and Manny Arora are Atlanta Hawks fans. They are also attorneys that specialize in sports law and they represent professional athletes. Both men say the Hawks need new ownership, but they caution it could take a while.

"We are a perennial first round loss kind of playoff team, attendance is down and some controversial comments have been made by the front office leadership, so we may not be the most attractive team to buy right now," said Arora.

"I think the biggest pause would probably be purchasing the team in Atlanta and will the fans get behind the team to support it," said Caldwell.

Hawks great Dominique Wilkins has said he's interested in buying the team. NBA Hall of Famer Magic Johnson and Oprah have been mentioned as well. Caldwell said any new ownership group should feature diversity.

"I think it would be a great move to get a female, a black female at that, to just kind of inject some additional diversity into the NBA. Obviously Oprah's tie to Atlanta would be her great friend Tyler Perry. He has proven to be able to run a multi-million dollar corporation," Caldwell said.

But Arora cautioned, there is a difference between being worth a lot of money and having it to spend.

"You need a certain amount of liquid assets available to you on top of your net worth. If all your money is tied up in your real estate or whatever holdings you have, or if you own the Walmarts of the world that is great. But if it is not available, you may not qualify," Arora said.

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