Bruce Levenson Is Still Busy In Atlanta After Selling Team

The former group of the NBA’s Atlanta Hawks Ownership, AHBE formerly known as Atlanta Spirit, LLC are suing their insurance company for insurance bad faith. The insurance company, AIG was obligated to honor a claim that was filed by the team’s former General Manager Danny Ferry. The claim had to do with a workplace dispute that under AHBE’s current policy would have been covered by the insurance company. And AHBE under Bruce Levenson‘s guidance had opted to buyout Ferry’s contract at the end of all this. But so far AIG is not acknowledging AHBE’s right to the claim, and it’s promising to become a contentious case in court.

In a report by Forbes.com, Bruce Levenson recently sold his shares of the Atlanta Hawks to Tony Ressler’s group after owning the team for about 12 years. He purchased the Hawks in 2004 and also served on the NBA’s Board of Governors during his time as owner. Levenson is also known founding United Communications Group (UCG – http://www.ucg.com/AboutUs/Ownership.aspx), a company he and his friend Ed Peskowitz founded in 1977. He had formerly written for the now defunct Washington Star and had become interested in publishing journals for various industries, so UCG started out with Oil Express and soon acquired many other journals. Levenson also became a board member of Tech Target and BIA Digital Partners.

As a philanthropist, Bruce Levenson helped start several foundations based in Washington D.C. including Hoop Dreams, the “I Have a Dream” Foundation, and the Center for Philanthropy and Non-Profit Leadership at the University of Maryland. Levenson is also active with the Holocaust Memorial Museum, an event that’s important to him because of his family heritage. Levenson also supports several Jewish non-profit groups and public policy organizations including SEED Foundation, Birthright Israel and BBYO. He was also part of the Anti-Defamation League’s committee that launched the “Concert Against Hate” event in 2015.

 

Bruce Levenson and Former Hawks Owners Sue Insurance Carrier

The former ownership group of the Atlanta Hawks basketball team filed a lawsuit in state court against New Hampshire Insurance Company and AIG, who they allege refuse to play a claim associated with the Hawks’ owners buyout of GM Daniel Ferry. The suit alleges that not only does AIG refuse to pay the claim, it refuses to admit that the policy has even been triggered in this case.

The current Hawks ownership, led by Forbes billionaire Tony Ressler, are not a party to the suit. Ferry’s buyout terminated the 18-million contract that was signed six years before, the sale of the team coming days later in 2015. Bruce Levenson and the ownership group argue that their policy includes several clauses covering wrongful termination and workplace torts, which should apply to the Ferry case.

Bruce Levenson is a co-founder of and partner in United Communications Group (UCG), which was founded in 1977. Originally a newsletter for the energy industry, UCG expanded into a major information provider to the oil and gas sector. Levenson was also the controlling partner of the Atlanta Spirit Group, which owned the Atlanta Hawks and the Atlanta Thrashers hockey team.

In addition, Levenson serves on the Board of TechTarget, a spin-off of UCG, and on the board of the Newsletter and Electronic Publishers Association. He also previously consulted for private equity firm BIA Digital Partners.