Update: On Thursday, January 8, the Atlanta Hawks announced its owners plan to sell the franchise and the Philips Arena operating rights. The following statement was released:
"The Atlanta Hawks today announced that its owners have unanimously approved a plan to sell the franchise and the Philips Arena operating rights. The sale will commence immediately. Atlanta Hawks Basketball and Entertainment, LLC has retained Goldman Sachs & Co. and Inner Circle Sports LLC to advise on the sale of the franchise and ancillary assets."