In early 2015, businessman Bruce Levenson and Atlanta Hawks Basketball & Entertainment (AHBE) completed the sale of the Atlanta Hawks to Tony Ressler’s group. The sale was unanimously approved by all parties involved, but there is still a final battle taking place between the former owners and their insurance company, AIG. After the sale took place, AHBE and Levenson decided to buyout General Manager Danny Ferry’s contract, and as part of their current insurance plan, AIG was supposed to allow for a claim to be filed in such an event as this. But thus far AIG will not accept the claim filed or allow for payouts, so Levenson and AHBE are taking them to court to seek damages.
Forbes billionaire Bruce Levenson bought the majority of the Atlanta Hawks’ shares in 2004, and owned the NHL’s Atlanta Thrashers along with them for a few years. Before that, Levenson co-founded and was the CEO of Unified Communications Group (UCG), a multi-industry news publication outlet. He had gotten his degree in journalism some years earlier before deciding to launch his own publication company, and had contributed to the now defunct Washington Star. UCG became the owner of many newsletters, and also was the parent to TechTarget, a technology research firm, and gas price app GasBuddy.
Bruce Levenson’s passion for basketball even led him to become involved with Hoop Dreams Foundation, an inner city youth tournament whose proceeds were sent to help with higher education scholarship funds. Levenson also supports the Holocaust Memorial Museum where he started the “Bringing the Lessons Home” program, an endeavor to teach young people about the significance of the event. Levenson also supports Jewish activist groups including Birthright Israel, SEED Foundation, and BBYO. He also once wrote a letter to Israeli Prime Minister Benjamin Netanyahu asking him to discuss a peace agreement for occupied territories with Secretary of State John Kerry.