Budenholzer would take on both roles of president and head coach. The move would then allow the Hawks to part ways with general manager Danny Ferry, according to Wojnarowski, and put assistant GM Wes Wilcox in the position.
Ferry has been on indefinite leave of absence since September, when an audio recording of him discussing free-agent-to-be Luol Deng emerged after a June conference call with Atlanta ownership and management.
Earlier this month, the Atlanta Journal-Constitution reported that Ferry is not expected to return to the team.
According to Wojnarowski, Atlanta's new ownership group cannot negotiate its new agreements with Budenholzer and Wilcox until the NBA’s Board of Governors approves the sale at a meeting on June 24.
Private equity billionaire Tony Ressler won the bidding to purchase the Hawks in April. His group includes former NBA forward Grant Hill.
Budenholzer was named NBA Coach of the Year in April after Atlanta won a franchise record 60 games.
- Molly Geary