Bruce Levenson is a prominent American businessman, a Forbes billionaire, an active philanthropist, and a former NBA team owner. He is a former co-owner of Atlanta Hawks LLC, which was originally Atlanta Spirit LLC. The company runs the famous Philips Arena and the Atlanta Hawks basketball team. Before joining Atlanta Hawks, Bruce co-founded the United Communications Group (UCG) in the year 1977.
The Sale Of Atlanta Hawks
Levenson hired Danny Ferry in 2002 as the general manager and president of Atlanta Hawks. Ferry had a massive experience in basketball having played for the Cleveland Cavaliers before serving as their general manager. He was also the vice president of operations at San Antonio Spurs before joining Hawks.
Levenson announced his plans to sell his majority shares of the company’s ownership in 2004 through an investment bank.
The Former Atlanta Hawks Ownership files a lawsuit against AIG Insurance
The previous ownership of the NBA franchise has sued an insurance company in New Hampshire for breach of contract. The suit involves the settlement of claims tabled by the former general manager and President Danny Ferry.
Bruce Levenson is part of the former Hawks ownership group due to his controlling partnership. However, the current ownership has distanced themselves from the suit since they are not in any way involved.
AHBE claims that the company took up a policy that covered losses related to employment malpractices including, but not limited to “Workplace Torts and “Wrongful Termination.”
According to the suit, despite the insurance firm’s obligation to pay Mr. Ferry’s claims and the acknowledgment that the claims fell within the AIG’s policy coverage, the insurance company has failed to settle the claims. The justifications given by the firm is an act of bad faith.