Skip to content

Atlanta Hawks sign historic deal with Black-owned banks

(Photo by Rashad Milligan for Steed Media Service)

Americans have frequently collided at the intersection of sports and politics in recent years, particularly during this tempestuous year of 2020.

The Atlanta Hawks made a move that is sure to have political ramifications in the future. The NBA franchise is going against the political trends of the day as they entered into a historic agreement with Black-0wned banks to help refinance the construction of the Hawks practice facility.

The National Black Bank Foundation and Carver State Bank, a Black-owned bank that has been in existence for 93 years, is the lead arranger as the NBA team is refinancing the Emory Sports Medicine Complex.

Other Black-owned banks are getting a piece of the action, including Commonwealth National Bank, Optus Bank, Liberty Bank & Trust, Industrial Bank, Citizens Trust Bank and Citizens Savings Bank.

The Hawks ownership made a conscious effort to do business with institutions that are actively working to empower and uplift communities.

“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,” a team representative said in a statement according to NPR. “We always strive to ask ourselves how the Hawks can best help those in the community that are already helping others, and today’s announcement is another step in our commitment to use the Hawks as a positive agent of change. This is both good for the community and good business to empower new and existing Black businesses.”

Flip the page to see what Carver State Bank executive has to say about this unprecedented deal.

Pages: 1 2