Bruce Levenson Continues Court Fight After Selling The Atlanta Hawks

Bruce Levenson was always a major part of the NBA community during the decade he headed the Atlanta Hawks Basketball and Entertainment LLC group that purchased the historic NBA franchise in 2004. Levenson and his consortium eventually sold the franchise in 2015 to billionaire Tony Ressler and agreed to the mutual termination of the $18 million contract of Hawks General Manager Danny Ferry just two days before the sale to the Ressler group was finalized. The mutual termination of Ferry’s contract remains the subject of an insurance claim made by Levenson and his former consortium colleagues that has yet to be completed with the AIG insurance company.

Levenson and his former Hawks consortium initially made contact with AIG to discuss a possible insurance claim over the contract of Ferry long before the sale of the Hawks was agreed; despite feeling they have followed the rules of the insurance company Levenson’s lawyers state the insurance claim remains unpaid, and AIG have so far refused to make contact with Levenson’s group about the claim.

Bruce Levenson has spent much of his recent time since selling the Atlanta Hawks franchise focusing on the philanthropic causes he holds dear to his heart. The founder of the UCG company played a major role in establishing and raising funds for the Center for Philanthropy and Nonprofit Leadership at the University of Maryland; Levenson also funds annual contests for University of Maryland students to publicize good causes they wish to provide donations for.

In an article by Time Magazine, during his time as the owner of the Atlanta Hawks Bruce Levenson also made sure the franchise became a part of the community along the east coast of the U.S. through various philanthropic choices made by the owner. Levenson himself used his time to play a major role in the I Have A Dream Foundation and the Hoop Dreams charity.

Source: https://en.wikipedia.org/wiki/Bruce_Levenson

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