Atlanta Spirit owns and operates the Atlanta Hawks basketball team. The Hawks formed in 1946, joined the National Basketball Association in 1949, and moved to Atlanta from St. Louis in 1968. Atlanta Spirit also operates Philips Arena, which serves as the home arena for the Hawks and also plays host to concerts and other events. The sports investment partnership sold its struggling National Hockey League franchise, the Atlanta Thrashers, to True North Sports and Entertainment in 2011. Atlanta Spirit founders include entrepreneurs Bruce Levenson and Michael Gearon Jr.