The Atlanta Hawks Basketball Club today announced that its purchase by an ownership group led by Tony Ressler was completed yesterday, following the unanimous approval by the NBA Board of Governors.

“On behalf of our ownership group, we are so excited to officially become part of the Atlanta Hawks Basketball Club, an important civic asset to the community,” said Ressler. “We look forward to building upon the success of the team’s incredible playoff run this past season and the excitement it generated in the entire community.”

Ressler will serve as Principal Owner and Chair of the Board of Directors of the Hawks and as the team’s Governor on the NBA Board of Governors. Other investors include seven-time NBA All-Star Grant Hill, who will serve as Vice Chair of the Board, Townsquare Media Chair and CEO Steven Price, Clayton Dubilier & Rice partner Rick Schnall, and Spanx founder Sara Blakely and Marquis Jet co-founder Jesse Itzler, who are married.