AOL Time Warner Secures Sports Team Deal

[newyawker99]

AOL Time Warner ended talks with a Texas businessman for its professional sports teams in Atlanta, instead choosing a group of buyers for the Hawks and Thrashers that includes a family link to former owner Ted Turner. The deal does not include the Atlanta Braves.

AOL Time Warner had negotiated with Dallas auto dealer David McDavid since April, but the company called a news conference Tuesday to announce it is selling the hockey Hawks, basketball Thrashers and operating rights to the teams' home, Philips Arena, to an investment group.

A person familiar with the deal told The Associated Press Monday night that the investment group includes Boston businessman Steve Belkin, who was unsuccessful in his previous pursuit of an NBA expansion team in Charlotte, and several Atlantans, including businessmen Michael Gearon Sr. and Michael Gearon Jr. and attorney Rutherford Seydel. The source spoke on condition of anonymity.

Seydel is the son-in-law of Turner, who owned the NBA's Hawks and NHL's Thrashers - as well as baseball's Atlanta Braves - before ceding control to AOL Time Warner.


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