ATLANTA (AP) – Real estate investor Larry Gottesdiener was approved on Friday as the principal owner of the Atlanta Dream after pressure on former Sen. Kelly Loeffler to sell his share of the WNBA team.
The three-member investor group also includes former Dream guard Renee Montgomery and Suzanne Abair, president of Northland Investment Corp. in Massachusetts, the company founded by Gottesdiener.
Montgomery becomes the first ex-player to become the owner and executive of a WNBA team. She was left out of the 2020 season to focus on social justice issues and recently announced her retirement from the league after 11 seasons.
Approval by the WNBA and the NBA Board of Governors was expected and unanimous. This means that co-owner Mary Brock also sold her share of the team, which will be in Atlanta.
The WNBA announced on January 20 that the change of ownership was close to being completed.
Players from across the league asked Loeffler to sell his 49% stake in Dream after she wrote a letter to WNBA Commissioner Cathy Engelbert during the summer challenging the league’s initiatives to defend racial justice and the Black Lives Matter movement.
“With the unanimous votes of the WNBA and the NBA, today marks a new beginning for the Atlanta Dream organization and we are delighted to welcome Larry Gottesdiener and Suzanne Abair to the WNBA,” said Engelbert in a statement.
“I admire his passion for women’s basketball, but more importantly, I was impressed by his values. I am also excited that Renee Montgomery, a former WNBA star, joined the group as an investor and executive on the team. Renee is a pioneer who has made a big impact on the game and beyond. “
Montgomery said his new role could set a tone.
“Breaking down barriers for minorities and women by being the first ex-WNBA player to have a stake in the property and a leadership role with the team is an opportunity that I take very seriously,” said Montgomery. “I invite you to join me while Dream is gaining momentum in Atlanta!”
Montgomery is in his first season as a studio analyst on the Atlanta Hawks’ broadcasts to Fox Sports Southeast.
Montgomery won titles with the Minnesota Lynx in 2015 and 2017. She was an All-Star with the Connecticut Sun in 2011, when she established a career high with her average of 14.6 points per game. She was the WNBA’s sixth woman of the year in 2012.
Gottesdiener said he considers it “a privilege to be part of a team of inspiring women who seek excellence on the court and equality outside the court”.
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