Bruce Levenson is taking the Atlanta Hawks former insurance company, AIG to task over an issue regarding the sale of the team and buyout of Danny Ferry’s contract according to the Atlanta Journal-Constitution. This issue arose after Levenson sold his share of the franchise, along with Atlanta Hawks Basketball & Entertainment (AHBE) in 2015 to Tony Ressler’s group, reveals Forbes.com. AHBE had bought out Ferry, the former general manager’s contract and in doing so claimed that they were covered under the current insurance policy to file for a claim. AIG has refused thus far to pay out any damages or compensation to AHBE and Levenson, even though AHBE’s attorneys say they were obligated to do so. This case has now gone to court where it could be in for a long hearing.
Bruce Levenson is quite an accomplished figure both as an NBA owner, and a businessman. He spent much of his career in journalism going all the way back to his days at the Washington Star, the now defunct paper he worked for while attending American University. He and his friend, Ed Peskowitz started their own publication business in 1977, and that company soon became Unified Communications Group (UCG), the publisher of many industry newsletters and publications. UCG started a subsidiary TechTarget that Levenson has served for on the Board of Directors, and they also are the owners of GasBuddy, a mobile app that displays gas prices at a location.
According to benzinga.com, Levenson also started and chaired several charity foundations to benefit underprivileged children. One such organization is Hoop Dreams, a charity event that raised funds through hosting basketball tournaments in downtown Washington D.C. He also has contributed to the Holocaust Memorial Museum, a place that hits close to home with his Jewish Heritage. Levenson is also a supporter of Birthright Israel, Seeds of Peace, and many other Jewish activist groups.