Bruce Levenson: Showing the Formula to Success for NBA Owners

NBA teams rank among the top clubs across the world. As a competitive league, it consists of 30 teams that compete every season with other teams that compete in the development league. Of the 30 teams, 29 are located within the United States and 1 in Canada. Toronto Raptors are the only team that features in the competition from outside the United States. The NBA is a lucrative league that pays its players highly. This Financial aspect as contributed to the increased interest from leading business people to own these teams. This has resulted in teams changing ownership a good example being the Los Angeles Clippers.
Many people think it is an easy task running an NBA team. They are misguided by the notion that the teams make money no matter the situation. What they do not know are the efforts any NBA team owner puts in the day to day running of the franchise. This starts with having enough capital to sign players to strengthen the squads in the beginning of each season. Appointing the right management team to oversee and ensure that every section of the team both on and off the court is effectively run. As a result, it brings about a good relationship between performance and value which is good for a sports business.
Bruce Levenson on wikipedia a successful businessman did that when he became the owner of the Atlanta Hawks and the Phillips Arena. This is after the company of which he is the majority share holder Atlanta Spirit LLC now known as Atlanta Hawks LLC purchased the club in 2004. He ensured continuous growth in the performance of the team and its general value. Levenson did this by hiring Danny Ferry to be the general manager and president of basketball operations. He had previous experience having worked with the Cleveland Cavaliers and San Antonio Spurs. As a managing partner for the team, Levenson made this decision among other financial steps that brought great success to the Phillips Arena. The Value of the team increased to $850 million by 2014 from around $250 million in 2004.
Apart from being an NBA team owner, Levenson supports a number of philanthropic organizations like Hoop Dreams Foundation and the Community Foundation of Washington D.C. Initially, Levenson served the Washington Chapter of I Have a Dream Foundation as its president. He is also the founding donor of the U.S Holocaust Museum.
The teams in the NBA rooster can be expected to change hands in the years to come. This is because they offer a ‘can’t miss’ chance especially to the high net worth business people who want to diversify there portfolio of investments. However, this will not be easy due to the temptation to keep holding to the teams by the current owners.