January 16th, 2012 
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In March 2004, the team was sold to a group of executives by the name of Atlanta Spirit LLC by Time Warner (who inherited the Hawks and Braves upon its merger with Turner Broadcasting in 1996), along with the Atlanta Thrashers pro ice hockey team, with which the Hawks share the Philips Arena, which replaced the Omni. After the change in ownership the Hawks still struggled. In the 2004–05 season, the Hawks were the league’s worst team with a mere 13 victories (five less than even the expansion Charlotte Bobcats and the struggling New Orleans Hornets). It was also the year Josh Smith won the 2005 Slam Dunk Contest. Despite their league-worst record, the Hawks only landed the number two pick in the 2005 NBA Draft (the first pick went to the Milwaukee Bucks). With the second pick, the Hawks selected Marvin Williams of the University of North Carolina. The previous year, the Hawks had drafted Josh Childress and Josh Smith. In the 2006 Draft, the Hawks selected former Duke star Shelden Williams with the fifth overall pick.
In the summer of 2005, the Hawks completed a sign and trade deal with the Phoenix Suns to acquire Joe Johnson in return for Boris Diaw and two future 1st round picks. They also signed Zaza Pachulia from the Milwaukee Bucks. These changes occurred after an apparent power struggle between the owners for nearly three weeks before the moves were made.
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