[FONT=times new roman, georgia, times]Judge rules Belkin can buy out ownership group[/FONT]
[FONT=Arial, Trebuchet MS, Helvetica]ASSOCIATED PRESS[/FONT]
[FONT=Times New Roman, Georgia, Times]ATLANTA, [/FONT]
[FONT=Times New Roman, Georgia, Times]June 9 —[/FONT] [FONT=Times New Roman, Georgia, Times]Steve Belkin has the right to take over the Atlanta Hawks and Atlanta Thrashers from his former co-owners, a Maryland judge ruled Friday. [/FONT]
The Boston-based Belkin is entitled to buy out the Atlanta Spirit LLC group for the Hawks, Thrashers and operating rights to Philips Arena, Montgomery County (Md.) Circuit Court Judge Eric Johnson ruled. But the current ownership said in a statement released by Atlanta Spirit spokesman Tom Hughes that the decision would be appealed.
''We have just received the court's 23-page decision,'' said the statement, attributed to the ownership group but no individual owner. ''The decision is wrong, both on the law and on the fact. We will review our options with our legal counsel but we expect that the decision will be overturned on appeal.''
Belkin was forced out of the ownership group following a bitter and public dispute over the Hawks' decision to trade Boris Diaw, two first-round draft picks and a $4.9 million trade exception to the Phoenix Suns for Joe Johnson.
Eric Johnson ruled the teams' seven other owners didn't abide by the terms of an agreement to buy out Belkin. Johnson said the group's actions triggered Belkin's right to buy them out.
The ownership group, led by Washington businessmen Bruce Levenson and Ed Peskowitz and Atlantans Michael Gearon Jr. and Rutherford Seydel, had the support of NBA commissioner David Stern in forcing Belkin out and selecting Gearon to replace Belkin as the NBA governor in the group.
In an e-mail to Atlanta Spirit LLC staffers obtained by The Associated Press Friday night, Gearon and Levenson promised business would continue as normal.
In the e-mail, Gearon and Levenson called the judge's ruling ''disappointing.''
''Along with our legal counsel, we remain convinced that it will be overturned on appeal, which could take an extended amount of time,'' Levenson and Gearon wrote.
''In the interim, there will be no change in the governance of the partnership or day-to-day operations of the Atlanta Spirit.''
Belkin was the only owner who didn't support Hawks general manager Billy Knight in the deal for Joe Johnson. Belkin contented the Hawks were giving up too much for the guard, who signed a five-year deal with Atlanta worth about $70 million.
Diaw, a neglected backup in Atlanta, became a productive starter for the Suns. Johnson led Atlanta with 20.2 points and 6.5 assists per game.
http://famulus.msnbc.com/famulusspt/ap06-09-180459.asp?spt=nba&vts=6920061937[/FONT]
[FONT=Arial, Trebuchet MS, Helvetica]ASSOCIATED PRESS[/FONT]
[FONT=Times New Roman, Georgia, Times]ATLANTA, [/FONT]
[FONT=Times New Roman, Georgia, Times]June 9 —[/FONT] [FONT=Times New Roman, Georgia, Times]Steve Belkin has the right to take over the Atlanta Hawks and Atlanta Thrashers from his former co-owners, a Maryland judge ruled Friday. [/FONT]
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[FONT=Times New Roman, Georgia, Times]The Boston-based Belkin is entitled to buy out the Atlanta Spirit LLC group for the Hawks, Thrashers and operating rights to Philips Arena, Montgomery County (Md.) Circuit Court Judge Eric Johnson ruled. But the current ownership said in a statement released by Atlanta Spirit spokesman Tom Hughes that the decision would be appealed.
''We have just received the court's 23-page decision,'' said the statement, attributed to the ownership group but no individual owner. ''The decision is wrong, both on the law and on the fact. We will review our options with our legal counsel but we expect that the decision will be overturned on appeal.''
Belkin was forced out of the ownership group following a bitter and public dispute over the Hawks' decision to trade Boris Diaw, two first-round draft picks and a $4.9 million trade exception to the Phoenix Suns for Joe Johnson.
Eric Johnson ruled the teams' seven other owners didn't abide by the terms of an agreement to buy out Belkin. Johnson said the group's actions triggered Belkin's right to buy them out.
The ownership group, led by Washington businessmen Bruce Levenson and Ed Peskowitz and Atlantans Michael Gearon Jr. and Rutherford Seydel, had the support of NBA commissioner David Stern in forcing Belkin out and selecting Gearon to replace Belkin as the NBA governor in the group.
In an e-mail to Atlanta Spirit LLC staffers obtained by The Associated Press Friday night, Gearon and Levenson promised business would continue as normal.
In the e-mail, Gearon and Levenson called the judge's ruling ''disappointing.''
''Along with our legal counsel, we remain convinced that it will be overturned on appeal, which could take an extended amount of time,'' Levenson and Gearon wrote.
''In the interim, there will be no change in the governance of the partnership or day-to-day operations of the Atlanta Spirit.''
Belkin was the only owner who didn't support Hawks general manager Billy Knight in the deal for Joe Johnson. Belkin contented the Hawks were giving up too much for the guard, who signed a five-year deal with Atlanta worth about $70 million.
Diaw, a neglected backup in Atlanta, became a productive starter for the Suns. Johnson led Atlanta with 20.2 points and 6.5 assists per game.
http://famulus.msnbc.com/famulusspt/ap06-09-180459.asp?spt=nba&vts=6920061937[/FONT]