Bruce Levenson on time.com is a renowned investor and an entrepreneur whose business acumen has put him on the limelight. He is best known for his ownership of an NBA enlisted basketball team, the Atlanta Hawks. He is a great fan of the hawks other than being part of the management team as a managing partner and a co-owner at the same time. Bruce has achieved a lot in his business career and he currently has a number of startup businesses under his name. Smart entrepreneurs are careful not to make losses in their investment and Bruce has done the same by diversifying his investments.
The Hawks is a team enlisted in the NBA league and it has been performing very well in the recent past. The team has however been on sale and currently there are two front-runners seeking ownership of the team although the process of purchasing it has become a long process. Investors seeking to place bids on the sale had up to the 10th of April to make their bids a deadline which was to be closed on its expiry date. During the period of sale, both the currently owners of the company and the investors interested in buying it had an agreement of non-disclosure.
During the period of sale, interested groups were holding meetings in the team’s city, Atlanta and during the process, only one group came out with full knowledge that it had lost the bid. Nonetheless the entire process was very competitive and all interested groups were fighting tooth and nail to get a chance in the purchase. This is why the process took too long from the date of the deadline which was set at 10th of April going on to June. The process took very long considering it had begun in September 2014.
The Atlanta Hawks has been under numerous changes of ownership with the recent resale being the latest. The sale begun soon after Bruce Levenson declared that he intended to sale his stakes last year September. The team has been performing very well considering their recent win of the Eastern Conference. With this performance, there are high expectations that the hawks will carry home the NBA championship title and if this comes to pass, there will be a slight confusion on whom to give the Larry O’Brien Trophy. Commentators and experts in the game suggested that the trophy is more likely to be handed to the current owners.
The sale of the team to different owners has taken too long and the only reason for this is the complexity involved in such a giant sell off. Of all the groups expressing their interest in the sale, only one group has raised concerns about the conditions of the Philips Arena which is included in the sale off. The group argues that the facility is not very well maintained and this could compromise the teams practice sessions and ultimately it’s performance.