Atlanta Hawks becomes the first pro sports team to secure financing with Black owned banks. The 35 million dollar loan marks the first time a professional sports franchise has had a significant loan underwritten exclusively by black banks.
The NBA’s Atlanta Hawks have recently announced that the franchise has agreed to refinance the construction loan for the Emory Sports Medicine Complex with several Black-owned banks. This is the first franchise in pro sports history to have a loan underwritten exclusively by Black-owned banks. ATL does it again!
The Atlanta Hawks are walking the walk when it comes to being an ally of Black businesses, and Carver State Bank is proud to be the lead institution on this historic transaction. Citizens Savings Bank, Citizens Trust Bank, Commonwealth National Bank, Industrial Bank, Liberty Bank & Trust, M&F Bank, and Optus Bank make up the syndicate of banks involved in this historic move.
Pro teams around the country have talked the talk, but the Atlanta Hawks have set the bar for what walking the walk looks like. Hopefully this won’t go down in history as the only, but rather the first of many pro teams, sports leagues, colleges and universities that will step up and align themselves with black banks and businesses.