Teams/Southeast Division
Atlanta Hawks
Tony Ressler, co-founder of the lender Ares Management, has controlled the Hawks since June 2015, when his group paid $850M including debt. Forbes values the team at $5.75B, and it has had six owners or ownership groups since 1946.
Every owner since the start
- 2015-todayGroup led by Tony Ressler
Bought the team and arena operating rights from Atlanta Spirit for $850M including assumed debt ($730M per AJC and Front Office Sports).
- 2004-2015Atlanta Spirit LLC, nine partners
Bought from Time Warner on 31 March 2004. About $250M covered the Hawks, the NHL Atlanta Thrashers and arena operating rights together.
- 1996-2004Turner Broadcasting, inside Time Warner
Corporate merger on 10 October 1996; no separate price for the team.
- 1977-1996Ted Turner
Bought a majority from Tom Cousins in 1977; price not found.
- 1968-1977Tom Cousins and Carl Sanders
Bought the franchise from Ben Kerner on 3 May 1968 for $3.5M and moved it from St. Louis.
- 1946-1968Leo Ferris and Ben Kerner, later Kerner alone
Founded the club in Buffalo in 1946; cost not found.
Value over time
- 12004 Atlanta Spirit: $250M, 2 teams
- 22015 Ressler group buys, $850M
Show the numbers
| Year | Forbes value |
|---|---|
| 1998 | $140M |
| 1999 | $150M |
| 2000 | $184M |
| 2002 | $199M |
| 2003 | $206M |
| 2004 | $232M |
| 2005 | $262M |
| 2007 | $286M |
| 2008 | $306M |
| 2009 | $306M |
| 2011 | $295M |
| 2012 | $270M |
| 2013 | $316M |
| 2014 | $425M |
| 2015 | $825M |
| 2016 | $825M |
| 2017 | $885M |
| 2018 | $1.15B |
| 2019 | $1.3B |
| 2020 | $1.52B |
| 2021 | $1.68B |
| 2022 | $1.98B |
| 2023 | $3.33B |
| 2024 | $3.8B |
| 2025 | $5B |
| 2026 | $5.75B |
| Year | Sale | Team valued at |
|---|---|---|
| 2004 | Atlanta Spirit buys 85% of a package of the Hawks, the NHL Thrashers and arena rights for $250M; package value computed, not the Hawks alone (computed from price and stake) | $294M |
| 2015 | Ressler group buys the Hawks and arena rights from Atlanta Spirit for $850M including assumed debt | $850M |
| 2022 | Dyal HomeCourt Partners (Blue Owl) buys about 6% from minority partners at about $2B | $2B |
Forbes valued the Hawks at $140M in 1998 and $5.75B in 2026, a multiple of about 41x. The biggest one-year jump was $1.35B in 2023 (up 68%); the biggest in percentage terms was 94% in 2015.
How the current owner bought it
- Atlanta Spirit was the seller. Bruce Levenson said on 7 September 2014 that he would sell, after self-reporting a 2012 email about the racial make-up of the crowd.
- The other partners agreed on 2 January 2015 to sell too.
- The deal was agreed on 22 April 2015, and the NBA approved it on 24 June 2015. The split between cash and assumed debt was not found.
- The original partners were Grant Hill, Sara Blakely, Jesse Itzler, Steven Price and Rick Schnall. No stake sale was found for 2024-2026.
Partners in the team
| Partner | Stake | Who they are |
|---|---|---|
| Blue Owl (Dyal HomeCourt Partners) | about 6% | NBA-approved fund; bought in around January 2022 at a $2B valuation |
| Michael Gearon Jr. and Rutherford Seydel | 1% combined (Wikipedia) | Former Atlanta Spirit partners |
| Grant Hill, Sara Blakely, Jesse Itzler, Steven Price, Ted Virtue, Bob Goodman | not found | Partners listed by Wikipedia; the first four joined in 2015 |
| Investor group including existing Hawks owners | undisclosed | Bought the Schnall stake in summer 2023, before he bought the Charlotte Hornets (Bloomberg) |
How the team is run
- Ressler has said he makes the final decisions. He fired general manager Landry Fields on 21 April 2025 and promoted Onsi Saleh.
- The 2017-2018 arena renovation cost $192.5M. The city paid $142.5M and the Hawks $50M plus overruns.
- The lease runs to 30 June 2046. Leaving early would cost $200M plus the remaining arena bonds.
- A former senior finance executive was indicted for wire fraud in late October 2025, accused of taking $3.8M. A team audit found it, and the charge was pending when reported.
Quick answers
Who owns the Atlanta Hawks?
Tony Ressler, co-founder of the lender Ares Management, has controlled the Hawks since June 2015, when his group paid $850M including debt.
How much are the Atlanta Hawks worth?
Forbes values the Atlanta Hawks at $5.75B in its October 2026 list, up 15% from $5B a year earlier. That makes them the 14th most valuable of the 30 teams; in 1998 Forbes put the team at $140M.
How much did the current owner pay for the Hawks?
$850M (Tony Ressler, 2015). Forbes now values the team at 6.8 times that price.
Who owned the Atlanta Hawks before the current owner?
Atlanta Spirit LLC, nine partners (2004-2015). Bought from Time Warner on 31 March 2004. About $250M covered the Hawks, the NHL Atlanta Thrashers and arena operating rights together.
Open questions
- The price Ted Turner paid Tom Cousins in 1977, and the share he bought, were not found.
- Arena capacity has three figures: 17,608 (Wikipedia), 18,868 (Forbes) and 18,118 at opening (New Georgia Encyclopedia).
- Wikipedia, citing ESPN, says Onsi Saleh was promoted to president of basketball operations on 27 May 2026. A June 2026 ClutchPoints report still calls him general manager.