Bruce Levenson is the UCG chairman and the co-owner of Atlanta Hawks. He has agreed to sell this team to the Antony Ressler-Grant Hill group.
The ownership group of Atlanta Hawks is working in order to finalize selling of their team. This will be sold to a group that is owned by equity and investment fund manager, Antony Ressler, who is a billionaire.
There is no formal announcement as yet about the deal as the sale is still not complete.
The Antony Ressler-Grant Hill group includes Grant Hill who is a former NBA player. It also includes Jesse Itzler who is the co-founder of Marquis Jet. They would be buying this team from Bruce Levenson, and Michael Gearon Jr., and the other investors. According to Forbes.com, they are going to pay $850 million for it. All the NBA owners have to approve of this sale of the team. No one is expecting any kind of disagreement in this.
Antony Ressler has already announced that he is feeling thrilled as well as honored in becoming the new stewards for Hawks. He will be following the approval process of NBA. This is why he did not wish to disclose anything further. But he did say that he was incredibly excited with the success of the Hawks and wished them luck for the playoffs.
This sale price for the team is going to have a major impact on the market. It reflects how strong the NBA product is right now. It will also depict how the market is going to become in the near future. There will be a number of other factors that will be playing a role here. This would include various national as well as local media deals. Next is the trend of increasing the valuations of NBA teams. Hence this sales price for the team is going to reflect the true picture of the market. https://www.nsf.gov/staff/staff_bio.jsp?lan=blevenso