Basketball is the famous sport in the United States. The game is characterized by tall players whose aim is to entertain and score goals. It is always a celebrated affair to have a win in each match. The basketball teams have an associated dubbed the NBA that is in charge of all affairs concerning basketball in the US. The popularity of the clubs has made the NBA the most famous league in the United States to date.
History of the Hawks
Atlanta Hawks is a basketball club that is part of the NBA and based in Atlanta. They use the Philips Arena as their base of operation, and home ground. The club was acquired in 2004 together with the Arena and the Atlanta Thrashers. The acquisition cost $210,000 million. Later, the owners decided to sell the Thrashers at an enormous profit. At $170,000, the Thrashers had offered the ownership a huge profit, just three years after acquisition.
In 2011, plans were underway to sell the Hawks with the Arena. It was however not successful because the board of management decline to support the decision. The owners took it lightly and postponed the sale. In 2015, a deal to sell the club was signed by the owners. The club had been estimated to fetch about $1 billion. However, Goldman Sacs sold it for $730 million to Anthony Ressler’s team. It was an enormous profit for the owner.
After the sale, analysts pointed out that the Hawks could have been sold for a much higher fee. However, Goldman Sacs refuted the claims and insisted that a higher price would have discouraged potential buyers.
Billionaire Bruce Levenson
Bruce Levenson has owned the Hawks from 2004. Since that time, the experience billionaire has had other investments that have given higher profits in equal measure. The billionaire and strategic investor made a profit from the sale of the Thrashers in 2007, and intended to do the same in 2011. When the plan to sell the Hawks was turned down in 2011, he seemed to understand. On that note, his patience paid heavily by giving him high profits. For accompany acquired for a few millions, he was able to get an amount slightly short of a billion dollars. The basketball investments are famous in the US given the fame and celebrity status that the owners are accorded.
The new owners
Forbes’ Bruce Levenson sold the Hawks to a team led by Tony Ressler. The ambitious team tabled their bid with the best hopes of acquiring the club. Their proposal was accepted, being the best.