Hometown Journey

Bruce Levenson the NBA Owner

There is an emerging leadership conflict at Hawks about its ownership. The conflicts emerged during this lengthy process of selling the Philips Arena and franchise continues. The sale process had its deadline on April 10, but the date can be changed due to the consideration of more bids. Both the seller and the buyer signed an agreement that forbidden them from speaking in public about the selling process. Steve Kaplan, Erick Thohir, Aaron, Handy Poernomo, and Jason Levien the former CEO at Grizzlies leads one party in the purchase process. The other team consists of Steve Starker, Mark Rachesky, and Jesse Itzler, the consultant at Hawks. Goldman Sachs and Inner Circle Sports were hired by Hawks to handle this process. All interested groups started meeting in Atlanta to discuss the selling process. Groups that do not conform to the terms of the sale process are disqualified from bidding. This process was likely to end before June. Bruce Levenson initiated the sale process in September after he announced his intentions to sell his shares. Hawks team has remained to be the top in the Eastern Conference. In case they win the NBA championship, the current owners should receive the Larry O’Brien trophy. One of the ownership group thinks that the practice facilities of Philips Arena are subpar and could be the reason it does not attract many free agents. Weight-room facilities and luxury boxes are below the NBA standard. The Atlanta Spirit in Washington led by Levenson announced to sell its 50.1% stake. The team has other members like Todd Foreman and Ed Peskowitz, who were also partners to Levenson. The other partners agreed to sell their stake in the franchise. Both the Atlanta-based group and New York-based group agreed to this deal. Michael Gearon Sr, Michael Gearon Jr, Beau Turner, and Rutherford Seydel were the members of the Atlanta-based group. Steven Price led the New York-based group in the process. Danny Ferry has served the team as the general manager and worked with other members to make sure the team runs in an effective manner. His team has won several awards under his leadership and he helped in training the other officials to work in a transparent manner. Both the Philips Arena and Hawks are worth $800 million Mr. Bruce Levenson is a partner and the co-founder of United Communications Group (UCG). He owns the Atlanta Spirit, LLC. Mr. Levenson collaborated with Ed Peskowitz in 1977 and formed the UCG. Levenson drives the business strategies of UCG and guides the firm in acquisition processes. While at UCG, he wrote for Observer Publishing and Washington Star. At TechTarget.com, he was the Director and made sure all operations were executed to achieve the goals of the organization. He has worked as a member of the Board of Directors of Newsletter and Electronic Publishers Association. In his free time, he participates in philanthropic activities. He is a businessperson and former owner of NBA team. He is a holder of a degree in Law and Arts.