From $850 Million to $3.3 Billion – How Did Ex-NBA Star’s 8-YO Atlanta Hawks Commitment Come to Fruition?

Black art for the kicks, real and hard assets for investments, and a CEO mindset that professed never to hire agents throughout his career—former NBA All-Star Grant Hill has made smart business decisions. But who knew he was just plain “paranoid about money and about losing money” from the start?

Following the footsteps of the veteran Dallas Cowboys running back and his father, Calvin Hill, Grant knew better with an eye on life after retirement. Opportunities opened up in the form of owning the Atlanta Hawks in 2015, and although he was a minority stakeholder, he seized it with both hands. Let’s have a look at how this NBA veteran pivoted from an All-Star athlete to a brilliant businessman.

Grant Hill’s fear of losing money fueled his business decisions

“I was always thinking about when the game was over,” Hill mentioned how he budgeted during his playing days and that has served him well. This mindset was also one of the reasons why he did not hire an agent for himself during his NBA days. Following his retirement from basketball in 2013, the American basketball small forward started lining up an impressive range of business investments.

Among all his investments one particular endeavor has garnered unparalleled attention, surging to a remarkable $3.3 billion in valuation. In 2015, Grant joined the ownership group led by Ares Management Founder Tony Ressler to purchase a stake in the Atlanta Hawks from the franchise’s ownership group led by Bruce Levenson. The sale was reportedly valued at $850 million.

Hill didn’t reveal his total stake in the NBA franchise but mentioned how he appreciated Tony’s treatment. “It’s an investment, and Tony Ressler can treat me like an investor, but he treats me like a partner, that’s something that I truly value and appreciate”, he said.

In 2022, the Atlanta Hawks were valued at $1.6 billion. According to Forbes, the number has only soared to reach $3.3 billion today. Through his involvement with the Hawks, the NBA veteran has notched up earnings exceeding $100 million. The fruits of his savvy moves are evident today, as his net worth has grown to an astonishing $250 million.

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Atlanta Hawks post Grant Hill

Back in the 2000s though the Hawks were not one of the premier teams in the league, yet there was still a large interest in the team being purchased. After a few different bids, a group led by Tony Ressler agreed to purchase the team. That’s when Grant Hill joined Tony in the bid to buy the Atlanta Hawks and was happy to be treated as a partner. This was also one of the reasons why Hill took up the role as both co-owner of the team and Vice Chair of the Board of the Atlanta Hawks, with Ressler being the Chair of the Board of Directors.

In a 2018 Forbes interview Hill said, “It’s the second-largest naming rights deal in the NBA. State Farm is a fantastic partner. If you were going to line up a series of credible brands that you’d like to identify with, State Farm has to be one of those at the top.”

The renaming of Phillips Arena to State Farm Arena through a naming rights agreement with State Farm Insurance is one of those things that Hill takes pride in, as he has been working since taking over the ownership of the Hawks.

Ownership to Hill came naturally, all credits to his father. Calvin Hill was unsuccessful in purchasing teams and since Hill Jr. was around, it created access and relationships with idols like Art Modell and Edward Bennett Williams. This way he got the taste of ownership at a tender age, even before he started his sports career.

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