According to Yahoo! Sports, Budenholzer will add the title of team president once the sale of the franchise is approved later this month.
Budenholzer, named the NBA's top coach for the 2014-15 season after the Hawks finished atop the Eastern Conference with a record of 60-22, will take over the position held most recently by Danny Ferry.
Ferry spent the season on a leave of absence after controversial remarks he made about a player were revealed in September. It was also in September that Bruce Levenson decided to sell his controlling interest in the franchise in the wake of a racially insensitive email he wrote two years prior also came to light.
A group led by billionaire Tony Ressler reached an agreement in April to buy the Hawks. The NBA Board of Governors will likely give its approval at a meeting next week.
The Yahoo! Sports report Thursday cited a league source as saying the new ownership group will give Budenholzer the added front office responsibility and will name Wes Wilcox the club's general manager. Wilcox had been part of the Hawks' front office team under Ferry.