Atlanta Hawks to remain grounded at Philips Arena

National Basketball Association (NBA) side Atlanta Hawks will remain at their home ground at the Philips Arena until at least 2046.

The deal was announced on Tuesday around 3 years after the Braves announced plans to leave the downtown area for Cobb County for a new ballpark that will open next year.

“I am delighted to announce the city of Atlanta has agreed in principle for $192.5 million renovation of Philips Arena that will keep the Hawks in downtown Atlanta for many decades to come, discount ” said Atlanta Mayor Kasim Reed.

 The city will put $142.5 million into the renovation, ed with the Hawks set to put in $50 million. Reed said that the deal has a break-up provision of $200 million should the NBA side leave the arena before 2046. 

Tony Ressler, thumb principal owner and chairman of the Hawks, said: “When our group became owners almost a year and a half ago, we pledged to work diligently with the City of Atlanta to ensure that the club remained downtown.

“We knew that a key part of producing a winning team, providing a superior fan experience and being a civic asset to the City of Atlanta required a renovation of our arena and a meaningful improvement to the downtown area of this city.

“This announcement with the Mayor is a significant step toward this goal, and we look forward to this exciting transformation that will ensure that we provide the best fan experience possible now and for the next 30 years.”

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