ATLANTA, April 24 (UPI) -- After sending an email containing racist content last year, Atlanta Hawks owner Bruce Levenson has agreed to sell his team for $850M, according to Kevin Arnovitz.
"My theory is that the black crowd scared away the whites and there are simply not enough affluent black fans to build a significant season ticket base," Levenson wrote in the email.
A group led by billionaire equity and investment fund manager Antony Ressler agreed to buy the team. The group includes NBA player Grant Hill and Jesse Itzler, the co-founder of Marquis Jet.
"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."
Ressler also tried to buy the Los Angeles Clippers a year ago for $1.2 billion, but was outbid by Steve Ballmer's $2 billion. Ressler is a minority owner of the Milwaukee Brewers.
The Hawks won a franchise-record 60 games this season, good for the top seed in the East.
