Bruce Levenson has not been the owner of the Atlanta Hawks for over a year, but he has recently seen his former ownership of the NBA franchise return to the headlines with a case brought by Levenson’s former ownership consortium against insurance company AIG. Levenson and his fellow investors are hoping to bring to an end an insurance claim made by the Atlanta Hawks Basketball and Entertainment Group headed by Levenson regarding the termination of the contract of former Hawks General Manager Danny Ferry.
Time Magazine’s Bruce Levenson and his fellow investors were in control of the Hawks from 2004 until 2015, during which time Levenson and the team he helped assemble guided the franchise from last place in the NBA standings to the number one seed for the 2014 playoffs. Levenson used his position as a high profile figure in the NBA to lead the team on a number of charitable programs, including his own positions as a board member for the Washington D.C. based Hoop Dreams Foundation; Bruce Levenson also made sure major causes were backed by the team, including a visit to the U.S. Holocaust Museum by members of the Atlanta Hawks squad.
The continued court battle between the former owners of the Hawks and AIG will be heard after AIG refused to acknowledge the claim made by the ownership groups over the termination of the six year deal signed by Ferry in 2012; the insurance claims dates back to claims made in April 2015 over Ferry’s position with the franchise. Ferry left the Hawks organization just two days before a sale was announced with a consortium backed by technology billionaire Tony Ressler and a new front office team was officially announced by the new owners of the historic Atlanta based franchise. Read more: http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/