ATLANTA -- Mayor Kasim Reed said on Tuesday he sees no local buyer ready to step in and buy the Thrashers to keep the team in Atlanta.
He said the financial losses associated with the team can't be reversed quickly enough to make the team an attractive investment.
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"We have not yet had any of the individuals in our community prepared to take that on, but it's not for a lack of trying," Mayor Reed said.
The current owners, the Atlanta Spirit Group, are negotiating a possible sale to True North Sports, which would move the team to Winnipeg for the 2011-12 season.
"Anytime we lose a major sports franchise, it's tough," Reed told 11Alive News on Tuesday. "It's going to hurt the city, but we'll withstand it and get through it. We have a lot of positive things going on in the sports franchise space that we'll be announcing soon."