You’d think owning a professional basketball team is just about sitting courtside and high-fiving the players. It isn't. When people ask who owns the hawks, they usually expect a single name, like a Mark Cuban or a Steve Ballmer. But the reality of the Atlanta Hawks ownership is a bit more crowded, involving a high-stakes consortium of private equity titans, former NBA superstars, and local business legends.
At the very top of the pyramid sits Tony Ressler. He’s the face of the franchise. He’s the guy who writes the checks and takes the heat when a trade doesn't pan out. But he didn't do it alone. The $850 million purchase in 2015—which looks like a total steal now that NBA valuations have skyrocketed—was a group effort.
The Man at the Helm: Tony Ressler
Antony "Tony" Ressler isn't just some guy with a deep pocket. He is a co-founder of Apollo Global Management and Ares Management. If those names sound familiar, it’s because they basically run the world of private equity. Ressler moved to Atlanta with a specific vision: he wanted to scrub away the lingering bad taste of the previous ownership regime, known as the Atlanta Spirit group, which was famously mired in internal lawsuits and public relations nightmares.
Ressler’s approach has been aggressive. He didn't just buy the team; he bought the dirt around it. He spearheaded the massive renovation of State Farm Arena and the development of the Centennial Yard project. He basically gambled on the idea that an NBA team shouldn't just be a sports product, but a real estate and entertainment anchor for the entire city.
It’s worth noting that Ressler’s net worth is estimated to be well over $10 billion. That kind of liquidity matters in the NBA. When the luxury tax bills come due because you’re trying to keep a superstar like Trae Young or build around a high draft pick like Zaccharie Risacher, you need an owner who won’t flinch. Ressler hasn't flinched yet, though he’s definitely shown he’s willing to shuffle the front office if the results don't match the spending.
The Star Power: Grant Hill and the Minority Owners
If Tony Ressler is the money, Grant Hill is the prestige.
Grant Hill is a minority owner and the Vice Chairman of the Board. He was brought in during the 2015 acquisition to provide "basketball soul" to the corporate leadership. It was a brilliant move. Hill is one of the most respected figures in the history of the game—a Hall of Famer who understands the locker room in a way a private equity billionaire never could. He’s not just a figurehead, either; he’s deeply involved in the team’s branding and community outreach.
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But the list doesn't end with Hill. The ownership group is a "who's who" of high-finance movers.
- Rick Schnall: He was a key part of the original Ressler group before he eventually went on to buy a majority stake in the Charlotte Hornets.
- Jesse Itzler: You might know him as the guy who co-founded Marquis Jet or the husband of Spanx founder Sara Blakely. He brings a frantic, entrepreneurial energy to the group.
- Steven Price: The founder of Townsquare Media.
- Sara Blakely: While often mentioned alongside her husband, she is a powerhouse in her own right, bringing a massive local connection to the Atlanta business community.
This isn't a "too many cooks in the kitchen" situation. It’s more like a diversified investment portfolio. Each member brings a specific set of eyes to the business side of the Hawks. Honestly, it’s a blueprint for how modern sports franchises are being run: less like a hobby for a rich guy and more like a massive, multi-faceted corporation.
Why the 2015 Sale Changed Everything
To understand who owns the hawks today, you have to remember the mess they inherited. The Atlanta Spirit group was a disaster. They were a collection of owners from different cities who couldn't agree on whether it was Tuesday, let alone how to run a basketball team. Their internal squabbles led to the departure of key players and a general sense of apathy from the Atlanta fanbase.
When Ressler’s group took over, the first thing they did was stabilize the ship. They spent $192.5 million of their own money (alongside city funding) to turn the old Philips Arena into State Farm Arena. They built a world-class practice facility in partnership with Emory Healthcare. They stopped treating the Hawks like a line item and started treating them like a premium brand.
The valuation jump has been insane. They bought the team for $850 million. Today? The Hawks are valued at nearly $3.3 billion according to recent sports business valuations. That is a nearly 300% return on investment in about a decade. Not bad for a team that has had its fair share of ups and downs on the court.
The Family Business Aspect
In recent years, the ownership has taken on a more "family" feel, for better or worse. Tony Ressler’s son, Nick Ressler, has become a prominent figure in the Hawks' front office. This has caused some stir among fans and NBA insiders.
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When a 20-something son of an owner is seen as having a major seat at the table for trade negotiations and scouting, people talk. Critics argue it creates a "nepotism" vibe that can destabilize a front office. Supporters say it shows the Ressler family’s long-term commitment to the franchise. They aren't looking to flip the team for a profit tomorrow; they are building a legacy.
Regardless of where you stand on it, the fact remains: the Ressler family is the "Buck stops here" authority for the Atlanta Hawks.
The Role of Centennial Yards
You can't talk about the ownership without talking about the 50 acres of parking lots and "the Gulch" surrounding the arena. The ownership group, under the umbrella of CIM Group (co-founded by Tony’s brother, Richard Ressler), is transforming that area into Centennial Yards.
This is a multi-billion dollar mixed-use development. We’re talking hotels, apartments, retail, and office space. It’s one of the largest urban redevelopments in the country. Why does this matter for a basketball fan? Because it means the owners have a massive financial incentive to keep the Hawks relevant. If the team is good, more people go downtown. If more people go downtown, the real estate is worth more. It’s a closed-loop system of wealth generation.
Is the Ownership Group "Good" for Atlanta?
"Good" is subjective in sports. If you measure it by wins and losses, the Ressler era has been a rollercoaster. They had that incredible run to the Eastern Conference Finals in 2021, which made everyone think a championship was imminent. Since then, it’s been a bit of a slog, leading to coaching changes and roster shakeups.
But if you measure it by stability and investment, the answer is a resounding yes. Before this group, there were constant rumors about the Hawks moving to another city. Those rumors are dead. The team is anchored to Atlanta with a state-of-the-art arena and a massive real estate project.
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The ownership is also very active in the community. During the 2020 election, State Farm Arena became one of the first and largest voting centers in the country—a move championed by the owners that set a precedent for the rest of the NBA. They’ve invested heavily in local basketball courts and youth programs. They’ve made the Hawks "Atlanta’s team" in a way previous owners never quite managed.
What Happens Next?
Ownership in the NBA is never truly static. While Tony Ressler is firmly in control, minority stakes are bought and sold frequently. With the NBA negotiating new television and streaming rights deals worth tens of billions, the value of the Hawks is only going up.
There is also the looming possibility of NBA expansion. If the league adds teams in Seattle or Las Vegas, every current owner gets a slice of that expansion fee—likely hundreds of millions of dollars in pure cash. This makes the Hawks an even more valuable asset than they were yesterday.
Moving Forward with the Hawks
Understanding the power structure behind the team changes how you view their moves on the court. When the Hawks trade a player or sign a massive extension, it’s not just a basketball decision; it’s a calculated move by a group of the world's most successful investors.
To stay informed on how this ownership continues to shape the team, you should focus on these key areas:
- Monitor Centennial Yards progress: The more successful the real estate project, the more "play money" the ownership has for the team's roster.
- Watch the Luxury Tax: If the Hawks consistently stay below the tax line despite being a piece or two away from contention, it tells you something about the ownership's current appetite for risk.
- Follow the Front Office Structure: Pay attention to how much influence is given to basketball lifers versus the "inner circle" of the ownership group.
The story of who owns the Hawks is a story of Atlanta's own growth. It’s a transition from a disorganized past to a highly corporate, multi-billion dollar future. Whether that leads to a championship parade down Peachtree Street remains to be seen, but the financial foundation is certainly there to make it happen.
Keep an eye on the official NBA team ownership disclosures and SEC filings related to Ares Management if you want the nitty-gritty financial shifts. For the average fan, just know that the days of ownership instability are over. The Ressler era is here to stay, and it's playing a very long game.