Atlanta Hawks Sold to Grant Hill and Tony Ressler

Grant Hill

Former NBA star Grant Hill has joined billionaire philanthropist Tony Ressler in the finalized agreement to purchase the Atlanta Hawks from the franchise’s ownership group led by Bruce Levenson.

While the group is led by Ressler, Hill will be holding a smaller ownership stake along with Spanx founder Sara Blakely and her husband, entrepreneur Jesse Itzler and Clayton Dubilier & Rice partner Rick Schnall, who are part of the new ownership group as well.

The Hawks announced the agreement of the deal Wednesday evening during the first half of the Hawks’ playoff game against the Brooklyn Nets.

“We are honored and thrilled to have been chosen to become the new stewards of the Hawks,” Ressler said in a statement. “We respect the NBA’s approval process and, accordingly, can say no more other than we are incredibly excited by the Hawks’ success and wish them luck in the playoffs.”

Get more of this story at ESPN.

(Photo Credit: Bryan Bedder/Getty Images for The Buoniconti Fund To Cure Paralysis)