Hawks Announce Sale of Team to Tony Ressler

Bo Churney —  April 22, 2015

The Hawks have officially announced the sale of the team to co-founder of Ares Managament, Tony Ressler.

“We are honored and thrilled to have been chosen to become the new stewards of the Hawks,” said Ressler in the Hawks’ press release. “We respect the NBA’s approval process and, accordingly, can say no more other than we are incredibly excited by the Hawks’ success and wish them luck in the playoffs.”

The sale will including operating rights to Philips Arena. The terms of the sale were not released, but Yahoo!’s Adrian Wojnarowski — who broke the news of the sale being in the finalizing stages earlier today — reported earlier in the day that the sale would be for between $700 million and $900 million.

The ownership groups includes former NBA All-Star and NBA TV anchor Grant Hill and co-founder of Spanx, Sara Blakely and her husband Jess Itzler. The sale still must be approved by the NBA Board of Governors.

Bo Churney

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3 responses to Hawks Announce Sale of Team to Tony Ressler

  1. Glad that ownership group is behind us, I’m looking forward to the future! Go Hawks!!!

    http://freshtakesports.com/2015/04/22/hawks-vs-nets-game-2-recap/

  2. Its called new York corruption what it is is this right here. Thabo comes out of a bar and some cop that knew that the nets would be playing the hawks in the first round decides knowing that he is one of the reasons the hawks got where they are decides to break his leg to make sure he don’t play against his precious nets. Therefore hurting Atlanta big time just like new yorkers have paid of umps to make sure the braves didn’t win titles . new York must be the sister state to Illinois . both are corrupt as haities .

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  1. Game 3 Preview: Improvement Must Continue | HawksHoop - April 24, 2015

    […] great incoming ownership group that has been selected for the Hawks. Presuming the group fronted by Tony Ressler is approved by the NBA, the days of running the franchise “on the cheap” could be over. […]