Michael Gearon Jr. Rumors

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The Atlanta Hawks Basketball and Entertainment LLC, the former ownership group of the NBA franchise, has filed a lawsuit against New Hampshire Insurance Company for breach of contract involving the settlement of claims made by former general manager Danny Ferry. The former Hawks ownership group (AHBE) included managing partners Bruce Levenson and Michael Gearon Jr. The lawsuit does not involve the current Hawks ownership group led by principle owner Tony Ressler.
Ferry and Hawks ownership reached an undisclosed buyout agreement on June 22, 2015 ending the relationship that began with a six-year, $18 million contract in 2012. The approval of the sale of franchise to the Ressler-led group came two days later. According to a spokesperson for current Hawks ownership: “We are aware of the complaint. The principal parties involved no longer have ties to the Atlanta Hawks organization and we will have no further comment on this matter.”
The Atlanta Spirit ownership group is on the verge of selling the Thrashers, but it will be holding on to the Hawks at least for a while. The Spirit and outgoing San Diego Padres owner John Moores agreed Friday to terminate Moores’ exclusive negotiating period on a possible purchase of the Hawks, Spirit partner Michael Gearon Jr. confirmed. “We no longer have an exclusivity,” Gearon told The Atlanta Journal-Constitution. “It was ended by mutual agreement after preliminary discussions.”
The Atlanta Spirit ownership group is on the verge of selling the Thrashers, but it will be holding on to the Hawks at least for a while. The Spirit and outgoing San Diego Padres owner John Moores agreed Friday to terminate Moores’ exclusive negotiating period on a possible purchase of the Hawks, Spirit partner Michael Gearon Jr. confirmed. “We no longer have an exclusivity,” Gearon told The Atlanta Journal-Constitution. “It was ended by mutual agreement after preliminary discussions.”