ATLANTA - California developer and pizza chain owner Alex Meruelo has reached an agreement to purchase majority ownership of the Atlanta Hawks, the team has confirmed.
The deal, reported by The Associated Press on Sunday, is to be announced at a news conference on Monday.
Meruelo, the son of Cuban immigrants, will become the NBA's first Hispanic majority owner if the deal is approved by the league. He says buying the Hawks "is a dream come true for me."
Meruelo will have controlling interest of more than 50 percent of the Hawk, who will remain in Atlanta.
The Hawks have been owned by a group led by Michael Gearon Jr. and Bruce Levenson. The owners also recently sold the NHL's Atlanta Thrashers to a group that moved the team to Winnipeg.