New Hawks owner: Philips Arena needs to be renovated or replaced

Atlanta Hawks majority owner for just one day, Tony Ressler is already making plans for the team's home gym - 16-year-old Philips Arena - which he took control of as part of his reported $850-million purchase of the franchise.

"As an owner for 24 hours," Ressler said to Tim Tucker of the Atlanta Journal-Constitution on Thursday, "you look at Philips Arena and you say, 'Is Philips Arena, for a top-10 market and a great franchise, going to be the arena for the next 25 years in this marketplace? Does it stand up after its 16 or 17 years of existence?' I don’t think it does.

"I think clearly something has to be done to that arena. … We have no idea what the right answer is, truly have no idea. Is it to move? Is it to rebuild there? Is it to remodel?"

The possibility of relocation may feel particularly worrisome for Atlanta fans, who will see their MLB team, the Braves, move from downtown Atlanta to a new stadium in suburban Cobb County in 2017.

Asked whether he's committed to keeping the Hawks downtown, Ressler said that it’s "too soon" to say.

"I wouldn’t rule out anything," he said. "I think our job is to see what’s best for the franchise."

Ressler said he's spoken with Atlanta mayor Kasim Reed, and Reed is "clearly a fan of wanting the Hawks to be in the city of Atlanta."

Ressler referred to his ownership group - the Atlanta Spirit - as custodians of not just an Atlanta-based business but a "community asset," in a separate interview with the Journal-Constitution.

But whether a move is part of the equation, Ressler said something needs to get done.

"There’s do-nothing. There’s remodel. Or there’s a new arena. Do-nothing is not an option," he said.

"It is not a top-quartile arena in America, in the NBA."