Browse Category: NBA Team Owner

Bruce Levenson: Portrait of an American Success Story

Bruce Levenson is a pillar of the Atlanta community. He started his path to success by becoming the co-founder of the United Communications Group. After partnering with friend and colleague Ed Peskowitz on the venture in 1977 he would eventually gain increasing influence within the company and today is in charge of UCG’s main business strategy. He develops strategy for many of the acquisition efforts of the company. He also worked as a writer in Washington and has served on a number of different boards for many very important public groups. Philanthropic pursuits are also important to him. He was also the President of the “I have a Dream” Foundation. There can be no question that Bruce Levenson has contributed a vast amount to society at large. However, all of these activities are not all that he is completely known for.

Levenson, who is worth billions of dollars, is also perhaps most well-known for the fact that he was the owner of the NBA’s Atlanta Hawks. The Atlanta Spirit LLC entity was the organization that Levenson was a part of that also owned the team. In late 2014, Levenson had a tough decision to make. He had decided that his time as the owner of the team was drawing to a close and that he wanted to sell it. Naturally, he didn’t want to part with the team without making a profit. Mr. Levenson has always had the shrewd ability to surround himself with only the best and the brightest people, and he knew that in this situation it could be no different.

Bruce Levenson knew that he wanted to get the best possible return on his investment. He knew that all of the work, commitment and dedication that he had put into the Atlanta Hawks would need to be repaid. He decided to hire the investment bankers at Goldman Sachs in order to help him effectively sell the team. In the wind-up, a group made up of Tony Ressler, former NBA player Grant Hill and Jesse Itzler purchased the team for $730 million. Although the final price tag was lower than expected, Levenson will still able to make a substantial profit from the sale of the team.

Levenson will continue to make an impact in his community through the profit he garnered from the sale of the team. He has been a substantial presence within the communities of Atlanta and Washington through all of his philanthropic pursuits. He will continue to be a pillar in his community.