Remember that distant time less than a year ago when no NBA teams were on the market?
That temporary scarcity sure drove up demand.
The Bucks sold for a then-record $550 million in April. The Bucks! They play in Milwaukee!
And then the Clippers went for $2 billion, completely obliterating our concept of how much NBA teams are worth.
As even more money is headed into owners’ pockets, plenty of people want to join the club.
That’s why Hawks owner Bruce Levenson, who is selling his share of the team after his racist email came to light, will have no issue finding a buyer.
Hawks co-owner and CEO Steve Koonin said he received inquiries from multiple people interested in purchasing the team following the news Sunday that controlling owner Bruce Levenson would sell his interest in the team.
In an exclusive interview with the Atlanta Journal-Constitution Sunday night, Koonin said while it has not been his focus immediately following the revelation about Levenson there will be no shortage of potential buyers for his shares in the team.
“I had over seven phone calls directly today from multi-billionaires,” Koonin said. “It blew my mind some of the people who wrote me today.”
Just remember, whatever punishment Levenson is receiving for his email, it’s not financial.