The following story was written by Kristi E. Swartz for the Atlanta Journal-Constitution:
Former Atlanta Falcons running back Warrick Dunn now has a minority stake in the franchise, the team said Thursday morning. The NFL owners approved Dunn’s purchase of a minority stake in the Atlanta Falcons Football Club yesterday. The deal is expected to close by March 1, 2010, the team said.
The deal makes Dunn the fifth person to have a minority stake in the Falcons. Arthur Blank, the team’s majority owner and CEO, sold minority shares to four others in July.
“During his tenure with the Falcons and throughout his NFL career, Warrick represented the highest of NFL standards on and off the field,” Blank said. “Warrick has a special affinity for the Falcons, as we do for him, and we are very happy he will be back in the Falcons family representing our club as a limited partner.”
Warrick signed with the Falcons in 2002 after five seasons with the Tampa Bay Buccaneers. The Falcons released Dunn in 2008. He played another season with the Buccaneers before retiring.
“This opportunity fulfills one of my professional goals to expand my knowledge and experience in the area of NFL team management, branding and operations,” Dunn said in a statement. “I am excited to be back as part of the Falcons team and, in particular, to work with Mr. Blank.”
Blank bought the Falcons for $545 million in 2002. He was the sole owner until announcing plans to add minority owners.
Blank said then he would retain 90 percent control and has no plans to sell the team.
The move to add minority owners is part of a league-wide trend of increasing their ownership partners.
Subject to NFL approval, the other owners are: Douglas J. Hertz, Ed Mendel, Derek V. Smith and Ronald E. Canakaris.
Businessman and philanthropist John Imlay is also a minority owner.
Hertz is a longtime season ticket holder and a friend of Blank’s. Mendel is co-founder of a finance strategy research firm, and the brokerage Davis, Mendel & Regenstein, Inc. He is also the president of The Mendel Foundation.
Smith is the chairman and chief executive officer of the Institute of Global Prescience and the former chairman and chief executive officer of ChoicePoint, Inc. Canakaris is the chairman and chief investment officer of Montag & Caldwell, a local investment management services company.
Neither side would say what percentage of shares were purchased or the amount paid, citing the respective private agreements.
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