If you live in Atlanta and are a fan of basketball, you likely keep up with the Atlanta Hawks quite often. Like many NBA teams, the Hawks have had their ups and down, but have played considerably well lately. Also, like other teams in the NBA, there’s a business side to the Atlanta Hawks that you may not know about, which have included former basketball players such as Grant Hill looking to buy the team. The professional aspect of the team is largely associated with Bruce Levenson.
Bruce Levenson is a partner and co-founder at United Communications Group. He is also an Atlanta Spirit, LLC owner. The businessman co-founded United Communications Group with Ed Peskowitz, and after nearly 30 years with the company, Levenson continues to play a significant role in acquisitions for the firm. Before founding his firm with Peskowitz, Bruce Levenson was a writer for Observer Publishing and the Washington Star.
In addition to these notable business accomplishments, Levenson also served as a director for TechTarget.com. He was also on the Board of Directors for the Newsletter and Electronic Publishers Association. Levenson served as the I Have a Dream Foundation president, and is involved in a number of philanthropic ventures. He earned a Bachelor of Arts degree from Washtington University, and has a law degree from Washington D.C.’s American University.
Levenson is also responsible for hiring the bankers who sold the Atlanta Hawks. Inner Circle Sports and Goldman Sachs sold the team and its operating rights to Philips Arena, which is the location where the Hawks play when they have home games. Goldman Sachs informed and convinced Bruce Levenson that it could get around $1 billion for Philips Arena’s operating right, and for the Atlanta Hawks team franchise. However, the co-founder of Ares Management LP, Tony Ressler, won the auction for the team when he bid $730 million. While this is still a considerable amount, the person who most closely predicted the price of the sale was Andrew Zimbalist, an economist who predicted that the transaction would be between $700 million and $750 million.
This could have left a considerable amount of money on the table. However, Levenson’s business savvy still brings about a considerable amount of money for his future and current business ventures.