Bruce Levenson and the Sale of the Hawks

Bruce Levenson attended Washington University, where he earned a B.A. Degree. He then attended American University to earn a law degree. While in the process, he worked as a journalist for both the Washington Star and Observer Publishing. He is the co-founder of and partner in the United Communications Group. He decided to form an investment group to purchase the Atlanta Hawks. Until recently, he was the owner of Atlantic Spirit, LLC. In 2004, Atlantic Spirit, the embodiment of this investment group, purchased the Hawks, The NHL Atlanta Thrashers, and operating rights of Philips Arena for $250 million.
Levinson has also sat on the board of directors Electronic Publishers Association and has presided over “I Have a Dream Foundation,” a role which he still holds. In September of 2014 he announced that he would finally be selling his 50.1 percent share of the Hawks. The other holders eventually decided to sell their shares as well. The sale process was tedious and took the rest of 2014 and much of 2015 to finalize. But Bruce Levenson recently sold the Hawks to billionaire Antony Ressler. Ressler was accompanied in buying the franchise for a reported $750 million.

This is not Ressler’s first experience in ownership of a sports team. Last year according to ESPN, he attempted to by the Los Angeles Clippers but was outbid. He is also one of the owners of the Milwaukee Brewers. In the face of declining attendance at games, the new owners are scrambling to attract new companies for advertisements. There has also been a move to update the facilities as a whole which many consider to be sub-par and a hindrance to attracting both fans and free agents. And these changes have all served to very positive results. Despite the present faults, the new owners are absolutely delighted to be in possession of one of the strongest teams in the NBA.

They started off the 2015/2016 season with a game against the Detroit Pistons. They played well and it was the competition was tight to the very end, but they lost 160 to 94. But this did not damper the Hawks owners, management, and teams hope for the future. For more info on Bruce, visit brucelevenson.com.