Bruce Levenson’s Sale Of The Hawks And Conflict With AIG Insurance
Bruce Levenson recently scored a profit with the sale of the NBA’s Atlanta Hawks. Levenson sold his shares of the Atlanta Hawks for about $730 million in the middle of 2015 after owning the team for about 12 years, but after the sale was completed, he and AHBE became involved in a dispute with their former insurance company. The team’s former General Manager, Danny Ferry had filed a claim with the insurance company regarding a workplace incident, and according to his attorneys the insurance company was obligated to offer the payout. But they have not done so and Levenson and AHBE are now taking them to court for damages caused as a result.
Bruce Levenson has been both a majority owner of the Atlanta Hawks as well as their representative on the NBA’s Board of Governors. He has an extensive background in journalism and business, as well as a J.D. from American University’s law school though he has never practiced law. He founded Unified Communications Group (UCG), a company that started in his own home after he and his business partner Ed Peskowitz started printing Oil Express, an oil industry publication. UCG has acquired many industry publications over the years and started subsidiaries including TechTarget and the GasBuddy app.
Levenson is an active philanthropist who has poured a lot of resources into programs for young people, including Hoop Dreams and the “I Have a Dream” Foundation, both of which are targeted at raising scholarship funds for inner city children. He also is a contributor and long Time supporter of the Holocaust Memorial Museum, including establishing the “Bringing the Lessons Home” program that teaches young people all about the Holocaust and allows them to become tour guides at the museum. He is also a member of several Jewish activist organizations including SEED Foundation, Birthright Israel and Seeds of Peace.