Bruce Levenson Rumors
Billionaire philanthropist Antony Ressler leads a group that has reached an agreement to purchase the Atlanta Hawks and Philips Arena for an amount believed to be less than $1 billion, the Atlanta Journal-Constitution has confirmed. Ressler, 55, is a co-founder of two private equity firms, Apollo Global Management and Ares Management. He is also a minority owner of the Milwaukee Brewers. According to Forbes, he is worth approximately $1.43 billion dollars.
According to several people familiar with the situation, the ownership group also includes former NBA player Grant Hill, co-founder of Marquis Jets Jesse Itzler and his wife Sara Blakely, the founder of Spanxx. Current co-owner Michael Gearon Jr. will also retain a small percentage of the franchise. The group will also include several other minority investors. Itzler is a season-ticket holder for the Hawks and has done consulting work for the organization.
Steve Kyler: Hawks said to be sold for $730 million — far cry from the $1.2 billion figure some tossed around. Hawks $730 million price illustrates how much Steve Ballmer overpaid for the Clippers not the new bench mark many hoped teams would command.