The Atlanta Hawks announced Thursday it agreed to refinance a $35 million construction loan for the Emory Sports Medicine Complex with a syndicate of Black-owned banks.
The team said the loan is the first time a professional sports franchise has had a significant loan underwritten exclusively by Black banks. The syndicate was led by Georgia-based Carver State Bank and was facilitated with the support of the National Black Bank Foundation (NBBF).
“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,” said Tony Ressler, Principal Owner of the Atlanta Hawks.
“What we earn from this loan strengthens our collective ability to provide even more loans and financial services to Black small businesses and consumers, and we are able to show our ability to pull off a large, sophisticated loan transaction,” said Robert James, President, Carver Development & Chairman-elect, National Bankers Association. “Tony and his team are real allies in the movement for racial equity."
The Emory Sports Medicine Complex is 90,000 square foot facility in Brookhaven and is the official training and practice facility of the Hawks.