By the time Tony Ressler acquired the Atlanta Hawks in 2015, he was already a multi-billionaire navigating the world of private equity. While Ressler was certainly no stranger to big business deals, purchasing the Hawks represented something different.
For Ressler, it wasn't just another corporate expansion. It was a family milestone achieved alongside his wife and Hollywood actress Jami Gertz. The night they successfully outbid a field of suitors remains etched in their minds. Gertz still has a vivid recollection of the exact moment.
According to Gertz, the deal wasn't closed in a skyscraper or any other fancy venue. Instead, it was finalized through a series of phone calls handled while she and her husband were huddled inside one of the closets of their home.
Indeed, it was an unlikely place to conduct business in, but technically, that's where the couple officially became the new Hawks owners.
"He has a little tiny desk in there and he was taking calls in the closet," Gertz told The Hollywood Reporter, recalling the Hawks auction night in June 2015.
"I was walking in and out of the closet. And he looked at me and I looked at him and he's like, 'Jami, are we going to do this?' I'm like, 'I don't know. I'm so scared.' And he's like, 'It would be so much fun!' And then we were jumping and screaming, 'Oh my God — we just bought a basketball team!'"
Ressler and Gertz knew that buying was just the first step. It only marked the beginning of the real work, and they did not waste any time.
The pair spent their first three years as the Hawks' owners renovating and building facilities, including a new 90,000-square-foot training complex and sports medicine center, as well as the revamp of the Hawks' home arena. The total cost was $192 millon, but the $142.5 million was covered by public funds. They, along with other team investors, paid the rest.
"Many of the things we've done we thought were luxuries, but we realized early on were requirements: having a top-tier practice facility and a really world-class arena," Ressler said. "Trying to redevelop downtown so that people are excited to come downtown. Engaging with the community."
Apart from the infrastructure, Ressler and Gertz also invested in building strong connections with the Hawks community. They even moved from Los Angeles to Atlanta.
Between the two, it was Gertz who excelled in fan experience and everything related to public relations. On the other hand, Ressler focused on working behind the scenes.
Some say it would be better to have an iconic Hawks figure like Dominique Wilkins represent the franchise as an ambassador or spokesman, but Ressler stuck with his wife.
"But I said f— it," Ressler said. "I'd rather go with Jami."
"I think it's fair to say that she makes a better impression on our fan base than any of us in the organization," he admitted. "I'm very active on the business and player personnel decision-making. But Jami steps in when it comes to so many parts of the business that I did not appreciate or have any experience in."
This June would be Ressler and Gertz's 11th year as Hawks owners. So far, they haven't brought a championship to Atlanta, but they have been consistently working to improve the team's roster.
Some believed they might have made a mistake by swapping Luka Doncic with Trae Young in 2019, but that did not define their ownership. In fact, the Hawks made a good move in drafting John Collins and Jalen Johnson.
They were also widely commended for trading Young for CJ McCollum and Corey Kispert, as well as dealing Kristaps Porzingis for Jonathan Kuminga.
After losing in the first round of these playoffs to the Knicks in six games, the championship still seems far away, though.
This story was originally published by Basketball Network on May 17, 2026, where it first appeared in the Off The Court section. Add Basketball Network as a Preferred Source by clicking here.
