Category Archives: NBA Team Ownership

Bruce Levenson Fires Back At AIG With Lawsuit Over AHBE Settlement

Published / by UpToMe / Leave a Comment

The Atlanta Hawks’ former owners, which include Atlanta Hawks Basketball & Entertainment (AHBE) and Bruce Levenson have filed a lawsuit against their former insurance company. The lawsuit involves a deal that AHBE made with former General Manager Danny Ferry to buy his contract. It turns out Ferry filed a claim with the insurance company for a workplace related incident that according to AHBE’s attorneys was covered in the policy. The insurance company thus far has not responded to the claim and refuses to issue payouts to AHBE or Ferry. AHBE and Levenson are now taking the insurance company to court and suing them for damages and attorneys’ fees.

Bruce Levenson owned the majority of shares of the Atlanta Hawks from 2004 to 2015 when according to Forbes.com, he sold the team to Tony Ressler and company. Levenson founded several companies prior to this, including United Communications Group (UCG), a parent company to several other companies. Levenson started this company shortly after he finished law school at American University, and he and his friend Ed Peskowitz published their first newsletter, Oil Express. The company soon started adding more newsletters and publications, ranging from healthcare, energy and oil production, technology and mortgage banking industries. They also founded GasBuddy, an app used for locating cheap gas prices within a location.

Levenson , http://brucelevenson.com/, is also a philanthropist who supports education and fine arts non-profit organizations. He’s sat on the boards of both Hoop Dreams and the “I Have a Dream” Foundations. He’s also a major donor to the Holocaust Memorial Museum, and was instrumental in establishing their “Bringing the Lessons Home” program for young people. Levenson also is involved with Jewish public policy foundations including Birthright Israel, BBYO Fellowship, and SEED Foundation. He also partnered with the Anti-Defamation League to host an event in Washington D.C. called “Concert Against Hate.”