Bruce Levenson, Longtime Owner Of The Atlanta Hawks Is In A Court Battle Regarding Former General Manager Danny Ferry

The final chapter of the sale of the Atlanta Hawks isn’t quite over. Forbes billionaire Tony Ressler and his group do own the team free and clear of any liens, but the former owners led by Bruce Levenson and Atlanta Hawks Basketball & Entertainment are still working out some issues surrounding the sale. Levenson and AHBE had filed a claim with AIG, their insurance company when they sold the team to compensate for the buyout of then General Manager Danny Ferry’s contract. A report by AJC states that Levenson and AHBE say they met the requirements needed to file a claim covering losses under this circumstance, but AIG will not fulfill its obligation. AHBE is taking AIG to court and seeks damage compensation for their refusal to honor the claim.

Bruce Levenson not only owned the Atlanta Hawks from 2004 to 2015, as well as the NHL’s Atlanta Thrashers during part of that period, but he’s also an established entrepreneur and philanthropist. Levenson started his first company, United Communications Group (UCG) back in 1977 when he and his friend Ed Peskowitz decided they wanted to start their own media company. It started with Oil Express, a newsletter that published information about the oil industry, and evolved to publications about investing and mortgage banking, healthcare, education and technology. The company also owns GasBuddy, a gas price app and TechTarget, a subsidiary company that specializes in technology purchase advisory.

Levenson has made large contributions to the Atlanta and Washington D.C. communities, starting non-profits such as Hoop Dreams and the I Have a Dream Foundation, focused on helping underprivileged children obtain scholarships. He also is a major supporter of the Holocaust Memorial Museum and especially contributes to their “Bringing the Lessons Home” program. He’s also the founder of the University of Maryland’s Center for Philanthropy and Non-Profit Leadership.

https://www.nsf.gov/staff/staff_bio.jsp?lan=blevenso

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