x
Breaking News
More () »

Atlanta's Leading Local News: Weather, Traffic, Sports and more | Atlanta, Georgia | 11alive.com

Forbes: Atlanta Hawks' value doubles under owner Tony Ressler

The Hawks are reaping the financial benefits of having a rising star in guard Trae Young

ATLANTA — Tony Ressler and his ownership group purchased the Atlanta Hawks for $730 million in 2015.

The Hawks today are worth more than double that with a value of $1.52 billion (up 17% from last year).

That’s according to Forbes’ annual NBA franchise valuation list published on Tuesday.

The Hawks (15-40) currently have the second-worst record in the Eastern Conference and are on their way to missing the playoffs for a third straight season. But the losses haven’t stopped the team's value from improving each year, especially with league revenue potentially exceeding the $9 billion mark this season.

For more on this report, visit the Atlanta Business Chronicle. 

MORE HEADLINES:

Atlanta Hawks help longtime fan celebrate her 102nd birthday

'He was with me tonight': Trae Young provides echoes of Kobe Bryant in Hawks win

Trae Young earns All-Star starter nod, wins fans with emotional reaction