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New Hawks Owner Tony Ressler Makes It Clear He Will Have Final Say On All Decisions
New Hawks Owner Tony Ressler and his partners were officially introduced on Thursday, and while he "believes they have assembled a strong group with talents and expertise that will work collaboratively, Ressler is the clear principle owner with final say on all decisions," according to Chris Vivlamore of the ATLANTA JOURNAL-CONSTITUTION. That is an "important distinction" from the former ownership group, Atlanta Spirit, whose 11-year tenure was "filled with controversy and power struggles." Ressler said that he owns about a 50% stake in an ownership group of "approximately 15 investors." He "will serve as the chair" of the team's BOD and the Governor on the NBA BOG, while former NBAer Grant Hill will serve as Vice Chair. The day-to-day operations of the team "remains with CEO Steve Koonin," coach Mike Budenholzer and Assistant GM Wes Wilcox. There are "handshake agreements in place for promotions" for Budenholzer to President and coach and Wilcox to GM, replacing the "recently departed Danny Ferry." Ressler said that he "never spoke to Ferry during the sales process," as he "wanted a clean start for the organization." Ressler added that there is "a list of priorities for ownership and made it clear" that a new practice facility "is one of the top concerns." Philips Arena is also "a major issue that will need to be addressed" ( <a href="http://www.ajc.com/news/sports/basketball/ressler-hawks-new-ownership-custodians-of-communit/nmmD8/" target="_blank">ATLANTA JOURNAL-CONSTITUTION, 6/26</a> ). Hill said, "I've always felt there's tremendous upside for this franchise and a tremendous opportunity to really resonate with the community and the fan base." The AP's George Henry noted Ressler "promised to focus on the business side as Budenholzer handles the roster" and Koonin, now in his second year with the franchise, "handles daily operations." Other "prominent names in the new group" are Spanx Founder Sara Blakely and her husband Marquis Jet co-Founder Jesse Itzler, Clayton Dubilier & Rice Partner Rick Schnall and investor Steven Price ( <a href="http://cherokeetribune.com/view/full_story/26722303/article-New-owners-see--tremendous-upside--in-Atlanta-franchise---great-assets--in-place" target="_blank">AP, 6/25</a> ).
