The Business of Basketball; Bruce Levenson and the NBA

The news that defined the last season of NBA league was the sale of Atlanta Hawks. The news caught the attention of many because the sale was one of the most historic for an NBA team, and also because the man at the helm is renowned businessman, Bruce Levenson.

While it is true that the sale of the team went well, there are people who feel that the sale could have been better by at least 27 percent. The bankers hired did a less than average job with the prediction whereby they claimed the company could sell for $1 billion but in reality, it sold at $730 million, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/. However, compared to the cost at which he had bought the team, it is safe to say that he still made a significant gain.

There is an argument on ESPN that has been put forward that the selling price was much lower than expected because of the prediction. The proponents of this claim say that even if the company wouldn’t have made the billion, it was worth at least $150 million more than the selling price. However, the circumstances that surround the sale make the cost okay.

About Bruce Levenson

Bruce Levenson realized that he had business acumen when he was in college. Together with a friend of his, Ed Peskowitz, they started their first company and named it UCG in 1977. They started with limited resources and had to run the business out of their dorm room. Four decades later, Bruce is a multi-billionaire.

When Bruce is not closing high-end deals, he is always busy doing some charity. For instance, he is one of the founders of the holocaust museum, a charity that helps Jews stay aware of their past. He is a member of the Jewish Federation and the Hoop dreams foundation. His dream is to transform the world through exemplary business leadership and humanitarianism. For more info, visit brucelevenson.com.

 

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