Category Archives: NBA Team Owner

Bruce Levenson’s Investment in American Basketball

From the Playoffs to the Championship games, basketball has been one of the most loved sports in the world. In the United States of America, the game was created in the late 1800’s and has progressed significantly over the years. As a result, a league was formed for men’s professional basketball. This league is what is now globally known as the National Basketball Association (NBA) and has a total of thirty teams as members.

However, there is so much more to the game than the players and the matches. Behind the scenes are those people who own these basketball teams. These owners are mainly billionaire business people and owning such teams always pays off in the long-run since their selling price is always higher than the buying price. A lucrative investment some would say. Many Forbes billionaires have owned these teams and among them is the famous entrepreneur, Bruce Levenson.

Known for being a being a former NBA team owner, a businessperson and also his many philanthropic activities, Bruce is among the partners who own the Atlanta Spirit LLC, now known as Atlanta Hawks LLC. They purchased the Atlanta Hawks basketball team and the Atlanta Thrashers hockey team and also acquired the operating rights to the Philips Arena, which doubles as the Atlanta Hawks’ training facility. Nonetheless, as the “game” of owning sports teams goes, Bruce and his partners sold the Atlanta Thrashers seven years after buying them.

Bruce Levenson also served as the Hawk’s governor on the National Basketball Association Board of Governors.

However, In September 2014, Bruce announced that he would sell his share of the Atlanta Hawks team. His partner Michael Gearon followed suit and announced he would sell his share in January 2015. In October 2014, Bruce hired Goldman Sachs and Inner Circle Sports to sell the Atlanta Hawks and the working rights to the Philips Arena. According to experts, the Hawks are likely to sell at a price ranging from eight hundred million to one billion dollars.

Apart from his association with the NBA, Bruce is also a prominent businessperson known for being the Co-Founder of United Communications Group. The group mainly specializes in data and analysis as well as news for various industries such as the telecommunications and energy industries. He has been with the firm for more than twenty years and still continues to play a significant role in executing its business strategies. He also served as a director of a company called Tech target. Bruce also plays an active part in philanthropic organizations such as the Hoop Dreams Foundation and the Community Foundation of Washington and is a founding donor to the U.S Holocaust Museum.