Bruce Levenson Makes a Huge Deal for the Hawks

Being a professional sports team owner has got to be a great time, a fun way to make money, but sometimes it’s time to sell the team and rake in a huge profit. That’s where Bruce Levenson on wikipedia is right now, as he has control of the Atlanta Hawks, a team that is worth right around three quarters of a billion dollars. He’s going to make a huge deal to sell the team, and the sheet amount of cash he can bring in by doing so is staggering, even by NBA standards. It’s way more than players and executives are able to make, the realm that only owners can get into.

Of course, nothing is free in the business world. When he took control of the team more than a decade ago, he had to shell out a ton of cash as well. Bruce Levenson did it as an investment. Sports teams have been weathering the financial storm in the United States incredibly well, as people keep packing the stadiums and arenas even as the economy struggles. People love sports, and they’re willing to give up on other types of entertainment if it means they can still cheer for the teams that they’ve supported their entire lives.

The Hawks have made it very exciting for those fans in the last few years. They’ve risen up toward the top of the conference, becoming a playoff team. Though they haven’t won it all, it’s a marked improvement. Fans have noticed, and the team’s revenue has been going up as well. People have been talking about them on sports TV and radio shows. There has been some noise in town that the Hawks hadn’t seen in a while. All of this made it a good time for Bruce Levenson to sell the team, as it would be hard to find a time with more interest. He’s clearly leaving the team in a better state than he found it, which is often hard to do.

As much as this is obviously a good deal for Levenson, that doesn’t mean it’s not a good deal for the next owner or the group of people who come together to buy the team. All they have to do is hope that the Hawks keep getting better, that Atlanta starts caring even more about basketball. If the fan base grows, they can still see gains, even though the team is being sold when it’s at a high point. With things like this, the upward trends can often go on for years and even decades, never really topping out.

If you look at the history of the NBA, you’ll see that this is absolutely what’s been happening. Popularity really surged in the 1990s, when Michael Jordon helped make basketball into a beloved sport even outside of Chicago. These days, the popularity is indisputable, and that’s why it’s become such a big deal, even in the smaller markets like Atlanta. It’s definitely a good time to be into spots ownership in the United States.

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