ATLANTA — Alex Meruelo and the Atlanta Hawks are poised to make NBA history.
The Hawks have scheduled a news conference for today to announce the team and Philips Arena are being sold to Meruelo, a person familiar with the deal said Sunday.
The son of Cuban immigrants is a California developer and pizza chain owner. He is expected to become the NBA’s first Hispanic majority owner.
The person spoke to The Associated Press on condition of anonymity because no official announcement has been made. The deal is subject to the approval of the NBA.
Meruelo, who will have controlling interest of more than 50 percent of the Hawks, will attend today’s news conference. The team will remain in Atlanta.
The Hawks ownership group, led by Michael Gearon Jr. and Bruce Levenson, also recently sold the NHL’s Atlanta Thrashers to a group that moved the team to Winnipeg, Manitoba. The Thrashers’ deal was for a reported $170 million, including a $60 million relocation fee.
Meruelo was born in New York and raised in California. He heads the Meruelo Group, a Downey, Calif.-based investment firm. The firm recently acquired the Grand Sierra Resort and Casino in Reno, Nev., for a reported $42.45 million.
Meruelo also founded La Pizza Loca, which has more than 50 franchised and company-owned restaurants.
The Associated Press
