As was reported widely almost a month ago, Dallas businessman David McDavid has reached the point of exclusivity in dealings with AOL/Time Warner for the purpose of purchasing the Atlanta Hawks and Atlanta Thrashers.

RealGM has learned that employees of the Braves, Hawks, and Thrashers were sent an inter-company email from Turner Sports Teams COO Terry McGuirk that spoke to a letter of intent to sell the franchises, as well as operating rights to Philips Arena, and that while the sale is not final; a letter of intent to sell to McDavid has been signed.

Also, later tonight, the Atlanta Journal/Constitution was told by Turner Broadcasting spokesman Greg Hughes the same information regarding the letter of intent.

McDavid himself told the AJC, "I am thrilled about the prospect of owning such an esteemed collection of sports and entertainment properties as the Hawks, Thrashers and operating rights to Philips Arena. This is one big step in a long process and there still remains a lot of work to do before the deal is completed."

"However, I remain confident that the acquisition will come to fruition. My family has always had a love affair with the city of Atlanta due to the many friends and business associates of ours who live in the area. I have visited the city quite often and am amazed each time at the level of excitement generated by its professional sports teams."

"I plan to build on this excitement and help solidify Atlanta's reputation as the sports capital of the world."