| Type | Private |
|---|---|
| Industry | Sports, property management |
| Founded | 1994 |
| Headquarters | Atlanta, Georgia |
| Products | Professional sports teams, arenas |
| Owner(s) | Seven businessmen (Majority Owner: Bruce Levenson & Michael Gearon Jr. ) |
| Subsidiaries | Atlanta Hawks |
Atlanta Spirit, LLC is an Atlanta, Georgia-based partnership who owns the NBA's Atlanta Hawks and their home arena, Philips Arena. The seven partners who comprise the group are Michael Gearon, Jr., Bruce Levenson, Ed Peskowitz, J. Rutherford Seydel, Todd Foreman, J. Michael Gearon, Sr., and Beau Turner. [1] Levenson, Peskowitz and Seydel, who are headquartered in Washington, D.C., are the only ones to work outside of Atlanta.[2] The group originally had nine partners, with Steve Belkin leaving in 2005 following conflicts with the other members, and Bud Seretean dying in 2007.
Although Ted Turner is not a part of this group, there are many connections to him: Beau Turner is the youngest son of Ted Turner. J. Rutherford Seydel is a son-in-law of Ted Turner.,[3][4] Michael Gearon Sr. was the general manager (1977–79), president (1977–1986) and chairman of the board (1986–2004) of the Atlanta Hawks under Turner's ownership.[5] Bud Seretean is also a former president and general manager of the Hawks (1975–77) and a former board member of Turner Broadcasting System.[6]
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In 2005, Atlanta Spirit bought the Atlanta Thrashers, Atlanta Hawks, and operating rights to Phillips Arena from Time Warner's Turner Broadcasting System. The Thrashers deal involved contracts so long and thick that they were placed in six binders. The investors of ASG had to sign 372 times.[7]
In the summer of 2005, the Atlanta Hawks finalized a trade with the Phoenix Suns to obtain shooting guard Joe Johnson for Boris Diaw and two protected future first-round picks. While this trade met with the approval of the majority of the ownership group, it was rejected by Steve Belkin, who held a controlling vote as the Hawks Governor within the group. This triggered legal proceedings to force Belkin out of the group. On December 23, 2010, the group led by Gearon and Levenson announced they had bought out Belkin's ownership share in Atlanta Spirit.[8]
In 2007, Spirit co-founder Bud Seretean died at the age of 83.[9]
On May 31, 2011, the Atlanta Spirit Group sold the Atlanta Thrashers to True North Sports and Entertainment, who relocated the team to Winnipeg, Manitoba and rebranded them as the new Winnipeg Jets.
Some have criticized ASG's handling of the Thrashers; Jeff Schultz of the Atlanta Journal-Constitution said that "it’s no secret that the Spirit has always cared more about basketball."[10] ASG said they had "no other choice" to sell the Thrashers, even though they weren't "under the gun" of the NHL like the Phoenix Coyotes were. After the sale of the Atlanta Thrashers to True North Sports and Entertainment Schultz put out another article further criticizing ASG's management of the team "which has long lost any semblance of credibility".[11]
On September 13, 2005, Atlanta Spirit purchased the Atlanta Thrashers, along with the Atlanta Hawks & operating rights of the Philips Arena. The Atlanta Thrashers were a Professional Ice Hockey Team part of the National Hockey League. The franchise was a failing one, making the playoffs only once by winning the Southeastern Division in the 2006-07 season. Most Thrashers fans blame Atlanta Spirit for the team's failing in Atlanta. On May 31, 2011, True North Sports and Entertainment and the NHL held a press conference in Winnipeg to announce the completion of a deal to purchase the Thrashers. True North intended to relocate the team to the MTS Centre in Winnipeg and on June 21, 2011, both the sale and relocation of the team were formally approved by the NHL's Board of Governors, with the Thrashers transformed into the second NHL incarnation of the Winnipeg Jets. The Atlanta Spirit Group, however, retains the rights and logos for the Thrashers. The Thrashers website was taken down soon after.