Belkin leaves as Hawks owner, Johnson deal finalized

<p>Steve Belkin agreed to sell his share of the Atlanta Hawks on Friday, allowing the team to complete a trade for Phoenix guard Joe Johnson and settling an embarrassing dispute that left the owners on opposite sides of a courtroom.</p><p>The NBA announced that Belkin would step down as the team's governor and sell his share of Atlanta Spirit, the nine-man group that also owns the NHL Thrashers and Philips Arena.</p><p>The team called an afternoon news conference to announce the sign-and-trade deal for Johnson, who will become the team's highest-paid player with a five-year deal worth about $70 million. The Hawks will send guard Boris Diaw, two first-round picks and a $4.9 million trade exception to the Suns to complete the deal.</p><p>Belkin's opposition to the trade _ and refusal to sign off on it even though the remaining owners had approved _ left the Hawks in turmoil.</p><p>The other owners wanted to remove Belkin from his role as governor. Belkin went to court in Massachusetts to stop them. Finally, NBA commissioner David Stern stepped in, ruling the Atlanta- and Washington-based owners, who control 70 percent of Atlanta Spirit, could remove Belkin, who holds 30 percent.</p><p>The irreparable split led to negotiations that resulted in Belkin agreeing to sell his share to the other owners for an undisclosed sum. The deal is expected to be completed by the end of the year.</p><p>Atlanta Spirit paid $250 million last year to purchase the Hawks, Thrashers and Philips Arena from Time Warner, which sold the teams to reduce its heavy debt.</p><p>"The differing opinions among Hawks owners over the Joe Johnson trade made it clear that philosophical differences exist over how best to build the Hawks into a winning franchise," Stern said in a statement. "I appreciate that Steve has voluntarily resigned as NBA governor in order to ensure that the team can move forward with one voice. I certainly hope that he will consider returning to the NBA as an owner of another franchise in the near future."</p><p>Michael Gearon Jr., one of the Atlanta-based owners, will replace Belkin as NBA governor.</p><p>The Johnson trade was held up for 2 1/2 weeks by the dispute. General manager Billy Knight agreed to a deal with the Suns and thought the owners were on boards. But Belkin objected, saying the Hawks were giving up too much and exposing a long-simmering rift between the Boston-based businessman and the rest of the ownership group. Under NBA rules, a team's governor must approve all trades.</p><p>The other owners charged that Belkin was unwilling to spend big money to rebuild the Hawks, who are coming off the worst season (13-69) in franchise history. Belkin said he was more concerned with the other parts of the deal, believing the Suns would not be able to match the contract the Hawks were offering.</p><p>Johnson averaged 17.1 points per game for the Suns last season. A combo guard with the Suns, he is expected to play the point in Atlanta.</p><p>While Belkin won a temporary injunction in Boston blocking the other owners from removing him, Suffolk County Superior Court Judge Allan van Gestel lifted it last week.</p><p>The ruling followed an affidavit filed on Aug. 11 by Stern, who cleared the way for the other owners to replace Belkin as governor. The Hawks still had to wait a mandated period of five business days before taking the action.</p><p>The five-day period ended Friday.</p>

http://accesswdun.com/article/2005/8/140927