The joint owners of the company that owns the Atlanta Hawks, the Atlanta Thrashers and holds the operating rights to Philips Arena is suing King & Spalding for malpractice, claiming that the law firm drew up a “fatally flawed” contract that was intended to buy out the interest of one of the teams’ co-owners but was ultimately found to be unenforceable.

The suit also claims that the contract flaws caused the plaintiff companies – which own 97 percent of Atlanta Spirit, the company that owns the Hawks and the Thrashers – to be sued in Maryland where, the suit alleges, King & Spalding “improperly represented them despite serious and undisclosed conflicts of interest.”