The news leaked Wednesday that a group led by private equity billionaire Anthony Ressler would be purchasing the Atlanta Hawks for a price of roughly $730 million.  Ressler’s group, which includes former NBA star Grant Hill and Jesse Itzler, husband of Spanx founder Sara Blakely, emerged late in the bidding process to secure a deal which many have called a steal.  Most projections saw the team being sold for upwards of $800 million, with some wondering if competing bids might push the final sale all the way to $1 billion.

Ressler made his fortune by co-founding a pair of private equity firms, Apollo Global Management in 1990, followed by Ares Management in 1997.  He was part of a group that bid on the Los Angeles Clippers in 2014, but ultimately fell short as the franchise was purchased by former Microsoft CEO Steve Ballmer. 

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