The Man Who Moulded The Nbas Top Sports Team, “The Hawks”
In the year 1996, Bruce Levenson became a partner with UCG ( United Communication Group) and by the next year, he was the co-founder of the company. He kept up his business with the company for a whopping 27 years and kept going. He was the owner of the Atlanta Spirit. He also participated in the “I Have a Dream Foundation”. His skills and determination as a leader was impeccable. Before all this, of course, Bruce Levenson had an education. He went to American University and got himself a Bachelor of Arts degree and also a law degree. NBA player Grant Hill & Jesse Itzler (the co-founders of Marquis Jet) bought the HAWKS from Levenson for $850 million; but before we get there, lets see how they all got there. Levenson & others bought the NHL’s Atlanta for $250 million in 2004 and later sold it for $170 million in 2011. Later on, Bruce Levenson sold his shares of the franchise (50.1%) due to undisclosed information. After that, everyone seemed to be selling their shares. Ed Peskowitz and Todd Foreman (Levenson’s former partners) sold their share. Michael Gearon Jr, Michael Gearon Sr, Rutherford Seydel and Beau Turner from the Atlanta-based group sold their share of the franchise for 32.3%. Even the New York- based group led by Stevenson Price sold their share for 17.6%. This basically left the HAWKS on the market with no current owner. Bidders came from all over, wanting to buy the franchise. I mean who wouldn’t want to be known as the NBA-leading basketball team owner. Bruce Levenson was to sell the franchise for $1 Billion, his bankers had apparently over-priced the franchise for it was predicted to be worth $700-$750 million. This scared away most of the bidders. Even I’d admit that that price would have me running for the hills. Eventually, the bank sold the franchise for less of about 27% which wasn’t so bad because he made a big profit. Antony Ressler bought the franchise for $850 million. Which the HAWKS obliged willingly. He is the current steward of the NBA HAWKs. Evidently without Bruce Levenson, the HAWKS would not have come to what they are known as now. He moulded the team, packaged it and sold it to the world as one of the best NBA sports team the world has and will ever know through history.