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April 18, 2017

Bruce Levenson Wants Damage Compensation For Sale Of The Atlanta Hawks

Bruce Levenson is in a court battle with AIG, the insurance company that held the policy for the NBA’s Atlanta Hawks when Levenson and Atlanta Hawks Basketball & Entertainment (AHBE) owned the team. According to forbes.com, Levenson and AHBE both sold their shares of the team in early 2015, but they now want compensation for having to buyout Danny Ferry, the former general manager’s contract. AHBE says they met all the requirements needed to file the claim for reimbursement, and according to their attorneys the evidence is clear that AIG was obligated to acknowledge their claim. But thus far AIG has rejected their claims, and now AHBE wants to sue for damages in court.

Bruce Levenson owned the Atlanta Hawks for 11 years when he and AHBE purchased the team in 2004, along with the Atlanta Thrashers of the NHL. Levenson started his business career back in 1977, when after graduating from American University he and Ed Peskowitz started Unified Communications Group (UCG). UCG had started with Oil Express, a newsletter that Levenson and Peskowitz published about oil and energy industry developments. But it soon evolved to multiple newsletters about various industries from healthcare to real estate and mortgage. Levenson also helped start GasBuddy, an app that helped drivers find lower gas prices in their area.

Bruce Levenson is also a philanthropist who has a passion for helping young inner city children achieve better education. According to benzinga.com, he chaired two scholarship charities at Hoop Dreams Foundation, a basketball tournament that raised money for the scholarships, and the I Have a Dream Foundation. Levenson is also a major donor to the Holocaust Memorial Museum, and even once took the whole Atlanta Hawks team and coaching staff there a few years ago. Levenson and his wife also presided as chairs over the Concert Against Hate, an event started by the Anti-Defamation League.

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