Atlanta Hawks Basketball & Entertainment (AHBE) is in the middle of a court case regarding the sale they made back in early 2015. Bruce Levenson, along with the rest of AHBE decided to sell the team to Tony Ressler and several others, a transaction that was completed without any hitches, but they also had elected to buyout the contract for Danny Ferry, their former general manager. AHBE was enrolled under AIG insurance company at the time, and according to the policy they had at the time, the event of the sale entitled AHBE to file a claim with AIG to cover losses related to this buyout. But AIG is not honoring the claim so far, and Levenson and AHBE have decided to pursue legal action against them.
Bruce Levenson has been a successful businessman in addition to owning the Hawks. He is a graduate of Washington University as well as American University’s law school, as well as a former contributor to the now defunct Washington Star. He started his main business, Unified Communications Group right from his own apartment in 1977 when he published their first newsletter, Oil Express. The company grew into quite a large conglomerate of industry news, including energy, real estate, and technology. They acquired many newsletters over the years, started the subsidiary Tech Target, and also own Gas Buddy.
Forbes billionaire Bruce Levenson bought the Atlanta Hawks in 2004, along with the Atlanta Thrashers who he sold off in 2011. He also has sat on the boards of many philanthropic organizations and non-profit groups, including starting the Center for Philanthropy and Non-Profit Leadership at the University of Maryland. He’s been most passionate about the Holocaust Memorial Museum, to which he has donated and been active in its education programs, in part because his mother-in-law is a survivor who has told her story to others.