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

The Atlanta Hawks is continuing its legacy as one of the boldest, and most audacious, pro-Black professional basketball franchises in all of American sports with its latest achievement. According to USA Today, the NBA team announced this past Thursday that it has agreed to refinance the construction loan for the Emory Sports Medicine Complex with a network of Black-owned banks. “We’re getting a very attractive loan with very attractive terms that we’re proud to have,” said principal owner of the Hawks, Tony Ressler, at a press conference, “and that’s the message that hopefully we can all make quite clear.” Historically speaking, the groundbreaking $35 million loan marks the first time a professional sports franchise has underwritten a significant loan exclusively using Black-owned banks’ credit. “The Hawks are not only the first-in-league with this deal, but are the first in all major league sports,” said ESPN commentator and NFL alumni, Ryan Clark, in a statement. “Banking black is...

Njera Perkins

Dec 14, 2020