In 2015, the Atlanta Hawks franchise became the property of American hedge fund billionaire, Antony Ressler. The insider sources leaked that Mr. Ressler and his advisors had settled for a buyout at a price of $850M, according to USA Sports Today. Those details later got confirmed in separate press conferences issued by the representatives of both Ressler’s firm and the outgoing management team headed by Bruce Levenson, also a billionaire entrepreneur.
Philips Arena Operating Rights
The multi-million dollar deal effectively ended the tenure of Mr. Bruce Levenson and his co-partners being in charge of the Philips Arena, the home of the Atlanta Hawks. The trio started running the stadium back in 2004. Since then, the investors have also let go of another investment they acquired in 2004: The NHL Atlanta Thrashers. The new ownership was under a lot of pressure to keep up the glory and impressive winning ways of the NBA top flight team. And, judging by the team’s performance over the last two years, the move was indeed a plus for all the stakeholders involved. The fans couldn’t be happier, the investors are pleased.
Introducing Bruce Levenson
Mr. Bruce Levenson is a lawyer by profession having attained a first-class honors law degree from the American University. He worked with Ed Peskowitz on their basement while creating his first business, UCG. UCG was a publishing company which released a regular newsletter focused on the lucrative but risky oil business. The newsletter, Oil Express, gained a loyal fan base and soon, UCG, was able to take over most, if not all, of the competing newsletters. Today, the company is a global business brand having a remarkably diversified portfolio touching on everything from technology, energy, mortgage banking to health care investments. The newsletter, Oil Express, made it possible for the duo, Bruce, and Ed Peskowitz, to secure spots on the prestigious Software and Information Industry Association Hall of Fame record book.
Donations and Foundations
Mr. Levenson has remained passionate about supporting Jewish causes and movements. In his home state of Washington D.C, he’s been heavily involved with organizations working to offer Jewish kids from poor backgrounds with decent, if not quality education. Some of the charity organizations he regularly partners up with include the I Have A Dream Foundation, the Hoop Dreams Foundation, and the Community Foundation. Asides being involved with sending the bright children to the best universities in the world, Mr. Levenson also contributes to the Bring the Lessons Home Program. This program runs at the U.S Holocaust Museum and it is intended to enlighten Jews and other people about what took place during the Holocaust. Read moreon prnewswire.com.