AOL hires bank to help sell Braves

ATLANTA - AOL Time Warner - which has a buyer for two of its sports teams - has hired a New York investment bank to help sell the the Atlanta Braves.

Allen and Company will assist in the sale of the Braves, the most successful of the three professional sports teams that were owned by former AOL Time Warner executive Ted Turner.

A study by Forbes magazine concluded last month that the National League team is worth $423 million.

Dallas businessman David McDavid has signed a letter of intent to purchase the Atlanta Hawks and Atlanta Thrashers, along with operating rights to Philips Arena, where they play home games.