Bruce Levenson says he and Atlanta Hawks Basketball & Entertainment (AHBE) were wronged by their former insurance company, AIG and he’s now taking them to court. Levenson and AHBE owned the Atlanta Hawks from 2004 to 2015 when they decided to sell their shares of the team. The team was sold without any issues, but AHBE decided to buyout former General Manager Danny Ferry’s contract, and according to the policy they had with AIG, they should have been owed compensation for loss as a result. While AHBE’s attorneys maintain that AHBE had the grounds to file the claim, AIG will not honor it. The battle in court is expected to last for quite some time, and AHBE wants full payment plus court costs.
According to ESPN, Bruce Levenson made quite a profit when he sold the Hawks to Tony Ressler, and he also has made other profits as the owner of Unified Communications Group (UCG), an online news source for various industries. Levenson got his degree from Washington University, and he had considered going into law, but while he was attending law school he made journalism his priority. He and his friend Ed Peskowitz founded UCG in 1977 and started publishing their own newsletters. Levenson would later help found UCG subsidiary TechTarget as well as a gas price app called GasBuddy.
Levenson has spent a good amount of his time working with charities and philanthropies, and he’s chaired organizations such as Hoop Dreams and the “I Have a Dream” Foundation. Levenson decided to encourage young people to get into philanthropy as part of business, so he started the University of Maryland’s Center for Philanthropy and Non-Profit Leadership. Levenson also donates to the Holocaust Memorial Museum in large part because of his Jewish heritage, but also because his own mother-in-law was a part of the event.