It’s been over a year since Atlanta Hawks Basketball Entertainment (AHBE) sold the franchise to Ressler Group, but they’re not out of the headlines yet. Now AHBE, led by former Hawks’ owner Bruce Levenson are taking New Hampshire based insurance company, AIG to court over what they claim is a failure on AIG’s part to pay out claims covered by AHBE’s policy. The claim was related to a contract buyout that AHBE had made for former General Manager Danny Ferry, a deal that terminated Ferry’s position as GM, but would pay him the remaining salary and a bonus. But as reported by ESPN, thus far AIG claims it has no obligation to pay AHBE, and the legal battle could go on for a while.
Bruce Levenson is quite an accomplished businessman who has started numerous companies and come out with several patents. Levenson attended Washington University for his undergrad studies, and considered going into law while attending American University, but instead he went into journalism. He co-founded United Communications Group (UCG) in the confines of his own home, and the company became a thriving publisher of manufacturing and industrial news, as well as energy, environment, and healthcare. UCG became a highly recognized source for oil price information, and even today owns the GasBuddy app.
Levenson is also a philanthropist who has been deeply involved in Washington DC charities and given to local activist groups. As a member of a family who survived the Holocaust, Levenson has donated to the Holocaust Museum, and has helped start programs that teach young people the importance of the Holocaust, and allow them to become museum tour guides. Levenson also is a supporter of Hoop Dreams, a basketball charity event whose proceeds fund better education for inner city children. Levenson was owner of the Atlanta Hawks for about 11 years, buying them in partnership with Atlanta Spirit, LLC and selling them late in 2014.