The Atlanta Hawks are now under Tony Ressler and company’s ownership after Bruce Levenson and Atlanta Hawks Basketball & Entertainment (AHBE) sold their shares of the franchise to Ressler’s group in early 2015 according to Forbes.com. But Levenson and AHBE decided to buyout former General Manager Danny Ferry’s contract, and in doing so they filed a claim that was supposed to cover damages in such an event with the team’s former insurance company, AIG. While Levenson and AHBE state that they met the policy terms to file the claim and AIG was obligated to honor this claim, as stated by AHBE’s attorneys, thus far AIG is refusing to pay any compensation to them, according to AJC. Levenson and AHBE are now suing AIG for refusing to honor the claim, and for damages incurred in court.
Bruce Levenson is the founder of Untied Communications Group (UCG), and is also a philanthropist in addition to being the Atlanta Hawks’ former owner. Levenson went to both the University of Washington and American University, and was also a reporter at the now defunct Washington Star. He co-founded UCG in 1977 with his friend Ed Peskowitz, and started off publishing Oil Express, a journal that informed readers of new developments in the oil industry. The company grew into a large conglomerate of industry publications, and later became the founder of TechTarget and GasBuddy.
Bruce Levenson has also contributed to many philanthropies and foundations supporting higher education for underprivileged children and Jewish activists. He also has contributed to the Holocaust Memorial Museum and even took the Atlanta Hawks’ players and coaches there back in 2014 where his mother-in-law shared her story about her survival of the horrific event.