The Illawarra Hawks have acquired new ownership as former two-time NBA Executive of the Year Bryan Colangelo buys a stake in the team, beating out a bid from LaMelo Ball's group. Colangelo, 55, will operate in an advisory role and won't be involved in the team's day-to-day operations, according to ESPN's Adrian Wojnarowski. Colangelo previously served as the Philadelphia 76ers' president of basketball operations from April 2016 to June 2018. He also served as the Phoenix Suns' general manager from 1995-2006 and led the Toronto Raptors from 2006-13, winning the league's top award for front-office executives in 2004-05 and 2006-07. The NBL has also agreed to let the franchise be known simply as the 'Hawks,' dropping Illawarra from its name in an effort to expand its footprint. LaMelo Ball, who played 12 games for the Hawks in 2019-20, averaging 17 points, 7.6 rebounds, 6.8 assists, and 1.6 steals per game, was expected to be a high lottery pick in the 2020 NBA Draft. The NBL's chairman Larry Kestelman thanked Ball's group for its interest in purchasing the team. Colangelo's group edged out Ball's group, which included the youngest brother of New Orleans Pelicans guard Lonzo Ball. The Hawks will look to build on their recent success with the new ownership group in place. And with the NBL season approaching, the team will focus on making a deep playoff run. But the road to the playoffs won't be easy, with tough opponents like the Perth Wildcats and the Sydney Kings. So the Hawks will need to be at the top of their game if they want to make a run at the championship. The team's head coach will play a crucial role in preparing the team for the season ahead. With the new ownership group in place, the Hawks will look to make some key signings to bolster their roster. The team's fans will be eagerly awaiting the start of the season to see how the new ownership group will impact the team's performance on the court.