Thrashers Owner Denies Move

((HT: Globe and Mail/CP))

One of the Thrashers' owners says the team has "several inquiries" from possible investors but adds the talks do not include moving the team from Atlanta.

Washington businessman Bruce Levenson said Monday "there is no truth to the rumour" the ownership group has been involved in talks about moving the team, including with a Vancouver group reportedly interested in relocating the team to Hamilton.

The Hamilton Spectator reported on Saturday that Vancouver developer Tom Gaglardi heads a group interested in moving the Thrashers to Hamilton.

There also are efforts to move the Phoenix Coyotes to Hamilton.

Levenson said his Atlanta Spirit LLC ownership group, which also owns the NBA's Atlanta Hawks and operating rights to Philips Arena, recently hired an agency to "explore inquiries" from possible investors.

He said there are ongoing talks but added "none involve moving either team."

Seven of the owners based in Atlanta and Washington, D.C., want to buy out Steve Belkin, who is based in Boston.

The effort led to a long, ongoing legal fight and also prompted a search for new investors, according to Levenson.

"We have received several such inquiries, some targeted at the purchase of Steve Belkin's interest in the wake of publicity regarding our litigation," Levenson told The Associated Press in an e-mail.

The unsettled litigation between Belkin and the other owners would make it difficult for the Thrashers to move from Atlanta. Another barrier is the team's commitment to Philips Arena.

One of the owners, Atlanta-based Michael Gearon Jr., said the ownership group provides a wider financial foundation to help the Hawks and Thrashers survive the recession.

"The biggest challenge we have is the distraction of Belkin and getting that resolved," Gearon said during the Hawks' first-round playoff series win over Miami. "I think that's probably the biggest issue.

"We don't have any debt on the team. As much as people critique what's going on in Atlanta, we have no debt," he added. "Most teams in the NBA have debt. That doesn't mean we may not access debt.

"It just means we have a lot of options when it comes to trying to invest in the product. We've got flexibility. We'll just see what happens."