NBA approves sale of Hawks to Tony Ressler


Just days after parting ways with Danny Ferry, and on the day they unveiled some…interesting new uniforms, the Hawks have made another move to the future official. The NBA announced on Wednesday that the Board of Governors has unanimously approved the sale of the team to an ownership group led by 55-year-old investor Tony Ressler.

Here’s the league’s press release announcing the finalized sale:

The NBA Board of Governors has unanimously approved the sale of the Atlanta Hawks to an ownership group led by Tony Ressler.

“We are pleased that the NBA’s Board of Governors has approved the purchase of the Atlanta Hawks by principal owner Tony Ressler,” said NBA Commissioner Adam Silver.  “Tony and his diverse and experienced ownership group will bring tremendous energy and passion to the Hawks and the team and its fans will greatly benefit from their commitment to the Atlanta community.”

The Hawks sale has been in the works since last fall, when majority owner Bruce Levenson self-reported a racially insensitive email he sent to the other owners, which led to the entire Ferry controversy, which led to the Hawks floating in uncertainty all season while enjoying unprecedented on-court success (60 wins and a trip to the Eastern Conference Finals). Ressler’s group, which includes former NBA star Grant Hill, agreed to the deal in April to buy the team for around $850 million. Today’s announcement makes it official.