Renee Montgomery of the Atlanta Dream.
Adam Pantozzi | National Basketball Association | Getty Images
Kelly Loeffler is no longer a WNBA group owner.
The Women’s National Basketball Association revealed Friday that it and the NBA board of guvs have actually all authorized the sale of the Atlanta Dream to Larry Gottesdiener, chairman of property company Northland.
Other group financiers consist of previous Dream star Renee Montgomery and Northland president and COO Suzanne Abair.
“With the unanimous WNBA and NBA votes, today marks a new beginning for the Atlanta Dream organization and we are very pleased to welcome Larry Gottesdiener and Suzanne Abair to the WNBA,” stated WNBA Commissioner Cathy Engelbert in a declaration. “I admire their passion for women’s basketball, but more importantly, have been impressed with their values.”
On a media call going over the sale, Engelbert stated Montgomery would be a big “asset” to the brand-new owners. She identified Montgomery as a “trailblazer who has made a major impact both in the game and beyond.” Montgomery, 34, played 11 years in the WNBA, consisting of 2 seasons with the franchise (2018-19) prior to retiring on Feb. 9.
“I want to continue to grow and we’re going to continue to grow the momentum in Atlanta for Atlanta Dream,” stated Montgomery on the call.
Terms of the sale were not offered.
But painting an image of WNBA group appraisals, sports lenders approximate the 2019 sale of a larger market group – the New York Liberty – offered in the $10 million to $14 million variety. Brooklyn Nets owner Joe Tsai now owns the group.
Asked by CNBC to validate if the sale fell that in rate variety, Engelbert stated terms were “confidential” however included “we’re looking forward to continuing the transformation around all the elements of the WNBA so that we can add value and valuation to all of our franchises going forward.”
Atlanta owner Kelly Loeffler (right) talks with Dream General Manager Chris Sienko (left) throughout the WNBA video game in between the Las Vegas Aces and the Atlanta Dream on September 5th, 2019 at State Farm Arena in Atlanta, GA.
Rich von Biberstein | Icon Sportswire | Getty Images
Loeffler, the previous Georgia U.S. Senator lost her senate seat in January’s Georgia overflow election. She made the headings in July 2020 after she opposed the group’s assistance of social justice for Black individuals following numerous prominent shootings including authorities.
The Dream used jerseys that supported the Black Lives Matter motion and keeping in mind Breonna Taylor, who was eliminated by authorities in Louisville, Kentucky, last March. Loeffler composed Engelbert to oppose supporting the motion and reveal her assistance for gamers to use the American flag on jerseys.
After the letter, Dream gamers utilized their platform to support her challenger, now U.S. Senator Raphael Warnock. Players used “Vote Warnock” t-shirts, which supposedly raised over $236,000 for his project.
On Jan. 19, reports appeared a sale of the Dream was being settled. In 2011, Loeffler and Mary Brock took control of the bulk stake in the Dream, after then-owner Kathy Betty left the ownership group in 2011.
“That’s in the past now, we’re looking towards the future, and the new beginning for the Dream players and quite frankly, the WNBA,” Engelbert stated.
The Dream completed 7-15 last season and did not make the playoffs. The group will pick 3rd in the 2021 WNBA Draft.
“It is a privilege to join a team of inspiring women who strive for excellence on the court and equity off the court,” stated Gottesdiener. “I would like to express my gratitude to Commissioner Engelbert, Commissioner (Adam) Silver, and the WNBA and NBA Boards of Governors for the opportunity.”
