Bruce Levenson Sells Atlanta Hawks

Bruce Levenson co-founded United Communications Group in 1977. Prior to founding UCG (http://www.ucg.com/AboutUs/Ownership.aspx), he wrote for the Washington Star and Observer Publishing. Since 2015, he has also been a Director of TechTarget, Inc. He received his degrees from Washington University and American University.

  1. Levenson has served on the Board of Directors of the Newsletter and Electronic Publishers Association and also the President of the “I Have a Dream Foundation”. Aside from that particular foundation, he is also involved in many other philanthropic endeavors.

He was also co-owner of the NBA team, the Atlantic Hawks. In 2015, he and co-shareholders began the process of selling the team. Bruce Levenson hired bankers to sell the Hawks, who convinced him the team, arena and operating rights should catch at least $1 billion.

As it turns out, the original numbers, estimated by Goldman Sachs and Inner Circle Sports was a little overzealous. Co-founder of Ares Management LPs, Tony Ressler, entered the winning bid for the team for $730 million, according to Forbes.com. Levenson still made a big profit with the sale, but the overestimate by Levenson’s bankers may have led to some dissuasion of other bidders, leaving some possible money on the table.

Ressler’s group includes NBA player Grant Hill and the co-founder of Marquis Jet, Jesse Itzler. Itzler’s wife, Rick Schnall (partner at Clayton Dubilier & Rice) and BTIG co-founder Steven Starker are also part of the group.