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" (ATLANTA JOURNAL-CONSTITUTION, 6/26). 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 (AP, 6/25).
HOME COMING? Ressler said that 16-year-old Philips Arena "will need to be remodeled or replaced." Ressler: "There’s do-nothing. There’s remodel. Or there’s a new arena. Do-nothing is not an option. ... It is not a top-quartile arena in America, in the NBA.” In Atlanta, Tim Tucker in a front-page piece notes Ressler’s comments made the Hawks the "third Atlanta professional sports franchise to express dissatisfaction with its current facility." Ressler "made it clear that the future of the arena and the need to improve the fan experience at Hawks games are top-of-the-agenda items for the team’s management and ownership." Asked if he is committed to keeping the Hawks downtown, as opposed to considering a possible move to the suburbs, Ressler said it is “too soon” to say. Ressler: "Downtown is incredibly vibrant and [will be] exciting over the next 10 years, from what I can tell." Meanwhile, Ressler said that the ownership group is "committed to building a new practice facility for the team." He said, “The question is when, not if.” He added that it "hasn’t been determined where the practice facility will be built" (ATLANTA JOURNAL-CONSTITUTION, 6/26).
MAN BEHIND THE CURTAIN: In Atlanta, Jeff Schultz writes fans "probably never heard" of Ressler before he purchased the Hawks. Ressler’s visibility "will increase now because sports plays out in daily public debates." But Ressler "has no desire to be center stage." Schultz: "The comfort for Hawks’ fans Thursday was not seeing nine owners fight over the microphone or the optimum photo angle at an introductory news conference (Atlanta Spirit flashbacks)." Ressler: “I don’t want to be an owner of a sports franchise where we step on the toes of people who know more than we do. That to me is always a recipe for disaster. I don’t look at me or any owner as being the face of the franchise. The players and the coach are the face of the franchise." Schultz writes there is "no guarantee Ressler will flourish." But he "spoke and acted in a way that suggests this regime won’t culminate in a collision of clown cars," which "would be progress" (ATLANTA JOURNAL-CONSTITUTION, 6/26).
