Alex Meruelo's acquisition of the Hawks is in jeopardy, according to sources.
There are concerns at the league level and within the Hawks' current ownership group, headed by Michael Gearon Jr. and Bruce Levenson, about whether Meruelo indeed has the sufficient funds to purchase a majority stake in the franchise and operate an NBA team.
Said Meruelo in a statement: "I have more than ample resources to purchase and operate the Hawks in a first-class manner. I am committed to the purchase of the Atlanta Hawks. While I can't comment on the details of the approval process, I have and will do everything I can to bring the process to a positive conclusion."