"I was told he wanted to come, a package was there and the simple thing is we couldn't afford him," he says, stressing when he took over the franchise 18 months ago it was in dire straits.
"Some of the financial problems were caused by doing this - spending money that hasn't been budgeted for," says Price.
To stay in the league, he believes, it's imperative to have fiscal sense.
"We have to pay back a lot of money that I inherited a lot of debt on and one of those was IRD."
The board, Price says, had to be ethical as Henare's offer had come after Hill's appointment, thus the perceived "abruptness".
Henare knows Hill and had made a couple of recommendations, including why the Hawks had two No 5s (centres).
"But my focus is to build the Hawks into a 2006-winning team and you've got to have your finances right as it's been shocking for the past few years."
He describes the franchise's viability as "sitting on the knocker", hingeing on gaming funding.
"I can tell you, it's like buying a house and going unconditional before the bank's told you you've got your money."
Despite not winning a single NBL game last winter, Price said it was a good season because the Hawks remained in the league.
"There's a three-year wait to get back in the league."