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The all-cash bid comes from Bill Burke, founder of the L.A. Marathon, plus 'state-owned investment institutions of the People's Republic of China' and unidentified American investors, a letter sent to Frank McCourt says.
A price of $500 million for Atlanta's Hawks and Thrashers is not out of the question... That is a lot of money for an NBA team and NHL team that are both losing money. But it is not out of the question considering that True North Sports and Entertainment has already offered $170 million ($60 million of which would go to the league as a relocation fee to move the team to Winnipeg) for just the Thrashers and Comcast-Spectacor is close to selling another money-losing NBA team, the Philadelphia 76ers, for between $300 million and $330 million.