Hawks Make History Through Exclusive Financing Deal With Black-Owned Banks

The Atlanta Hawks have made history away from the court. This month, the Atlanta franchise made history by securing a $35 million loan exclusively from Black-owned banks to build up the Emory Sports Medicine Complex. It is the largest loan from a Black-owned bank to a franchise in major professional sports league history.

“The Hawks are not only the first-in-league with this deal, but are the first in all major league sports,” former Super Bowl Champion Ryan Clark said.

“Banking black is a simple but incredibly powerful demonstration of professional sports franchise’s commitment to their players and their fans. Now we need other teams to follow the Hawks’ lead.”

Much of this deal was facilitated by the National Black Bank Foundation. Through this deal, the Hawks will prove that Black-owned banks can compete in the private sector while boosting the credit cushion for fellow Black-owned entities.

“Today’s announcement reflects our commitment to putting our values into action–by choosing to work with Black banks and drawing attention to the need for Black banks to thrive as they work toward addressing the lack of access to capital in Black communities,” Atlanta Hawks Owner Tony Ressler said.

“We always strive to ask ourselves how the Hawks can best help those in the community that are already helping others, and today’s announcement is another step in our commitment to use the Hawks as a positive agent of change. This is both good for the community and good business to empower new and existing Black businesses.”

The Emory Sports Medicine Complex will continue to act as the Hawks training facility in the city's Brookhaven neighborhood. With 90,000 feet, the facility holds two full basketball courts, training areas, a film room, cryotherapy facilities and much more.

The Atlanta Hawks are set to begin their 2020-2021 regular season on December 23 in Chicago against the Bulls.

Photo Credit: Getty Images

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