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A group called "Atlanta Spirit" bought the Atlanta Thrashers, Atlanta Hawks, and the rights to Philips Arena in 2003 and the deal was finalized in 2004.

AOL Time Warner was the previous owner, but sold the teams and arena to reduce its large debt.

Of course, since the above was written, the Atlanta Thrashers have been sold to True North Sports & Entertainment of Winnipeg and have moved from Atlanta to Winnipeg.

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