The Atlanta Hawks Basketball & Entertainment group is still making news, even one year after they sold their shares of the team to Tony Ressler’s group. Bruce Levenson, the head of this group is filing a lawsuit against the group’s former insurance company, AIG. AHBE filed a claim to AIG when they decided to buyout former Hawks’ GM Danny Ferry’s contract. Under the policy they had at the time, all losses pertaining to this kind of a buyout were eligible for filing a claim, yet so far AIG does not acknowledge AHBE’s right to this claim. AHBE is vowing to win this case and wants compensation for attorneys and court costs they incur.
Bruce Levenson has had quite a career both as an NBA team owner, and an entrepreneur. According to Time.com, he originally studied law at American University, but he ran a news publication business on the side while doing so. He followed his passion in this business, and his first successful newsletter that was put out was Oil Express, an information source for news about the oil industry. Eventually, he ran a full-scale media operation called Unified Communications Group (UCG), a company that focused not only on oil and gas prices, but also on healthcare, financial markets, and telecommunications trends. Levenson also sits on the boards of Tech Target and BIA Digital Partners.
Bruce Levenson is also passionate about helping low-income communities and families in educational endeavors, and he headed up Hoop Dreams and the I Have a Dream Foundation to help these families out. Levenson also is very active in the Jewish Community, helping fund groups like the Jewish Federation and Birthright Israel. His mother-in-law is a survivor of the Holocaust, and Levenson donates to the Holocaust Museum where stories like his mother-in-laws are told to visitors. Levenson even took the Atlanta Hawks players and coaches to the museum just a few months before he sold the team. Read: http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/