Tony Ressler finally made it to ranks of the billionaire businesspeople of the world in 2014 when a stock offering was made for the Ares Management hedge fund he established in 1997. As part of the celebrations of joining the ranks of the billionare’s of the world, Ressler looked to buy the LA CLippers when the NBA franchise became available for purchase. After being beaten to the purchase of the Clippers, Ressler was forced to look elsewhere for a franchise to buy. At this time in 2014, Bruce Levenson on time.com announced his Atlanta Hawks franchise would look for new owners and allow those who bid around $1 billion the chance to buyt he franchise.
The decision by Bruce Levenson to sell the Atlanta Hawks was not taken lightly after the historic franchise had been a major part of the life of Levenson since he fronted the consortium buying the team in 2004. Levenson had become a successful businessperson after forming the UCG company in the 1970s whilst working as a journalist at The Washington Star. Success has followed success for Bruce Levenson after he has adapted the technology UCG has created for the analytics industry to create a series of companies, such as GasBuddy and TechTarget. These companies have proven a success for Levenson and allowed him to deveop new companies that have only expanded the business empire of Levenson and his partners.
Despite the business success Bruce Levenson has seen, he also found the time and effort to make sure the Atlanta Hawks reached a level of success that has rarelty been seen by the franchise. Levenson had proven himself a success with the growth of the Hawks from the bottom of the regular season standings to the number one seed in the Eastern Conference by his final season in control of the franchise.
Bruce Levenson sold the Hawks franchise to Tony Ressler who has now hit the ground running during the offseason in his bid to turn the Hawks into a championship winning franchise after the success of the Bruce Levenson era. In a bid to build on the success of the work of Bruce Levenson, Tony Ressler has assembled a new front office team that includes a number of officials from the successful San Antonio Spurs franchise. Instead of making major changes to the franchise, Tony Ressler has made a few changes to the front office in a show of respect to the work already done by Bruce Levenson.