Category Archives: NBA Updates

NBA and Atlanta Hawks team owner Bruce Levenson

Bruce Levenson is a former NBA team owner and was also a co-owner of Atlanta Hawks LLC, which administers the basketball team called the Atlanta Hawks. Levenson has also worked , since the year 2004, on the NBA Board of Governors as the Hawks’ Governor.
Atlanta Hawks LLC, was founded in the year 2004 to purchase the Atlanta Hawks from Turner Broadcasting. It represents a group of businessmen with Bruce Levenson and Ed Peskowitz as majority partners and it owns the professional basketball team Atlanta Hawks and Phillips Arena. Prior to this endavour, Levenson took part in writing for Observer Publishing and the Washington Star. He also was known as a director at TechTarget.com. Among these things, he has been the head of the “I Have a Dream Foundation”. Levenson attended Washington University where he earned a Bachelor of Arts degree and moreover, he is the owner of a law degree that he got from American University in Washington, DC. A significant fact is that he was also involved in work with many philanthropic organizations. He donated to the U.S. Holocaust Museum and also finds its Bringing the Lessons Home program that provides the students with knowledge of the Holocaust and prepares them to become the Museum’s tour guides.
Recently however, Forbes billionaire Bruce Levenson informed the public that he was apparently, planning to sell his interest in the Hawks team. As it was mentioned above, Levenson has worked as the Hawks governor and one of the controlling owners ever since the year 2004. There were two groups that were emerging as the main front-runners for buying the Hawks after an almost seven months long process to sell the rights along with the Philips Arena. The deadline for final bids was taken to be April 10, however, it is considered to be moved, as there are a couple more bids to be taken into consideration. People informed on this whole process consider, however, the before mentioned two groups to be the finalists but they have already signed agreements for non- disclosure so as to be certain not to discuss publicly about the selling process.
It is known that the first finalist is led by Steve Kaplan, minority owner of Grizzlies, together with Erick Thohir and Handy Poernomo and Jason Levien, while other finalist is led by Mark Rachesky from Lionsgate Entertainment. The selling process will probably take until June to finish. It began in September when, as mentioned before, Bruce Levenson pointed out his intention to sell his interests in the team. A couple of months later, the other ownership partners also decided to sell their rights in the team.
The Hawks and Philips Arena were considered to be sold for $800 million and upward but, as the latest sources confirm, Antony Ressler has recently agreed to purchase the Hawks for a price of about $850 million and moreover, Steve Koonin, CEO of the Hawks and Mike Budenholzer, the coach, will remain the long- term part of the new group of ownership.