ATLANTA - The WNBA has announced the sale of the Atlanta Dream to a new ownership group that will include former Dream player Renee Montgomery.
The WNBA and NBA Boards of Governors have unanimously approved the sale of to a three-member investor group, which includes Montgomery, Larry Gottesdiener, Chairman of Northland, a national real estate firm, and Northland President and Chief Operating Officer Suzanne Abair.
Montgomery will be the first former player to become both an owner and executive of a WNBA team. Montgomery sat out the 2020 season to focus on social justice issues and recently announced her retirement from the league after 11 seasons.
"My Dream has come true," said Montgomery. "Breaking barriers for minorities and women by being the first former WNBA player to have both a stake in ownership and a leadership role with the team is an opportunity that I take very seriously. I invite you to join me as the Dream builds momentum in Atlanta!"
"It is a privilege to join a team of inspiring women who strive for excellence on the court and equity off the court," said Larry Gottesdiener. "I would like to express my gratitude to Commissioner Engelbert, Commissioner Silver, and the WNBA and NBA Boards of Governors for the opportunity."
Founded in 2007, the Dream has qualified for the WNBA Playoffs eight times and has reached the WNBA Finals three times. The team’s former owners, Dream Too LLC, the Atlanta Dream ownership group, purchased the team in 2011.
The team was previously co-owned by former Georgia Senator Kelly Loeffler and Mary Brock.
Loeffler and Brock commented on the transaction saying, "Ten years ago we stepped up to keep the Dream in Atlanta, as an important asset for a vibrant and diverse city. It was also important to us to help level the playing field for women's professional sports. We are proud of what we accomplished and wish the team well in their next chapter. We will always value the hard work and dedication, and the memories, fans and friendships that sustained our commitment to the Atlanta Dream over the last decade."
The Dream will play the 2021 season at the Gateway Center Arena at College Park, a multi-purpose sports and entertainment venue. The 2021 WNBA regular season schedule will be announced at a later date.
WATCH: FOX 5 Atlanta live news coverage
This browser does not support the Video element.
_____
Sign up for FOX 5 email alerts
Download the FOX 5 Atlanta app for breaking news and weather alerts.