Bruce Levenson and Atlanta Hawks Basketball & Entertainment (AHBE) have a battle on their hands against their former insurance company, AIG. The two parties sold the Atlanta Hawks just last year and as part of that sale, Levenson and AHBE decided to buyout then General Manager Danny Ferry’s contract. According to AHBE, an option to do so was written in the insurance policy they had with AIG, and AIG was responsible to pay out such a claim that they filed. Thus far, AIG is not responding to the claim and Levenson and AHBE are taking them to court, vowing to sue for bad faith and for court damages.
Forbes billionaire Bruce Levenson purchased the Atlanta Hawks in 2004 along with the NHL’s Atlanta Thrashers, and owned them for about 12 years. Prior to that, he built a company called Unified Communications Group (UCG). Levenson had gotten a degree in journalism back in the 1970s and while he was attending law school, he became a contributor to a now defunct Washington D.C. newspaper. Later, he and his friend Ed Peskowitz started up their own news publication called Oil Express, and in the following years added more journals till they had built up the UCG conglomerate. UCG is also the parent to TechTarget and GasBuddy.
Levenson is also an accomplished philanthropist, giving back millions to the D.C. community in his time. According to benzinga.com, organizations he’s sponsored include the “I Have a Dream” Foundation, Hoop Dreams, and the Holocaust Memorial Museum. Levenson even helped start the “Bringing the Lessons Home” program there where young people can learn about all the historic implications of the event, and later become tour guides at the museum. Levenson is also a staunch supporter of Jewish foundations including BBYO, SEED Foundation, Birthright Israel and AIPAC. He also helped fund the Concert Against Hate event last year.