ATLANTA (AP) -- The Atlanta Hawks will not be sold to California developer and pizza chain owner Alex Meruelo.
The Hawks' ownership group, headed by Bruce Levenson and Michael Gearon Jr., says it was a mutual decision to terminate the agreement for Meruelo to buy the team. Meruelo, the son of Cuban immigrants, was poised to become the NBA's first Hispanic team owner.
Levenson says the Hawks are no longer for sale.
According to a three-paragraph statement released by the team on Friday, neither the ownership group nor Meruelo will comment on why the purchase agreement announced in August has been terminated.