Levenson to Sell Interest in Hawks

Bruce Levenson, whose titles include businessman, NBA franchise owner, and philanthropist, has announced plans to sell his interest in the Atlanta Hawks franchise and operating rights to Phillips Arena, home to the Hawks.

Tony Ressler, co-founder of investment advisment group Ares Management LP, has won the auction with a bid of $750 million, which came in much lower than Levenson’s brokers’ expectation of a sale of $1 billion. Ressler is already a minor owner in the Milwaukee Brewers MLB franchise.
Ressler holds an MBA from Columbia University and got his start at Drexel Burnham Lambert. After Drexel’s collapse in 1990, Ressler gathered up key employees and associates of his former employer and, along with Leon Black, founded Apollo Management Group, a private equity group. Ares Management LP was founded in 1997.
Levenson, along with partners in the newly formed Atlanta Spirit LLC, purchased the franchise and operating rights in 2004 from Turner Broadcasting. Levenson, along with Ed Peskowitz, is a majority partner in what is now known as Atlanta Hawks LLC. The purchase also included the Atlanta Thrashers NHL franchise, which was sold off in 2004. Levenson is a member of the NBA Board of Governors.
Levenson worked as a journalist at the Washington Star while in law school. He and Peskowitz formed United Communications Group (UGC) in 1977. UGC offers information broker and analysis services to wide a array of businesses. Levenson also serves on the board of directors of TechTarget, a technology media company.
Levenson’s philanthropic pursuits include the Community Foundation of Washington D.C. and the Hoop Dreams Foundation.

One comment

  1. He is a previous leader of the Washington D.C. part of the I Have A Dream Foundation. He additionally adds to Jewish causes. Levenson is utilizing the administrations of Goldman Sachs and Inner Circle Sports to expedite the arrangement. It is very good for http://www.essayhell.org/ to understand the nitty-gritty of everything and it makes complete sense to all and sundry.

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