In an effort to sell the Atlanta Hawks, Bruce Levenson has hired a few bankers. They have made predictions on the price that people are willing to pay for the team. The bankers that were hired by Levenson are Goldman Sachs and Inner Circle Sports. He has hired them back in October. In looking at the team, Goldman Sachs has determined that they could get at least $1 billion for selling the team and the operating rights of the arena. Afterwards, the news broke on ESPN that shows that a billionaire co-founder of a group that Ares Management is the winner of an auction with bid of $730 million.
While it is far from the $1 billion mark, it is not that far off. As a matter of fact, many people have thought that the $1 billion price was realistic. It was a little bit high, but it is easy to see why one would expect to be able to pay upwards of that price. It is actually very rare to be able to accurately predict a price down to the penny. When it comes to high prices, there is going to be some differences between the expected price and the final price that is paid. Either way, the team did sell for a high price. Bruce Levenson has profited greatly from the selling of the team.
There is one person who predicted accurately what Bruce’s team would sell for. The man who made the closest prediction is Andrew Zimbalist. He has predicted that the team would sell for a price between $700 million and $750 million, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/. Overselling anything is going to happen when it comes to putting items up for auction. However, one of the disadvantages of overselling is that it could discourage some bidders and leave money on the table. Either way, the team has made Bruce Levenson a lot of profit.
Bruce Levenson gets to pursue other interests after selling the Atlanta Hawks. There is no telling what he is going to pursue next. However, the team has gained a lot of value under his ownership. Meanwhile, the Atlanta Hawks get to continue their run as a team under new ownership and there may be differences as to how they are trained. The team members remain the same and the fans get to enjoy the team that they love while they play and win different games.
For more info, visit brucelevenson.com.