AIG and Atlanta Hawks Basketball and Entertainment LLC are currently embroiled in a lawsuit that claims that New Hampshire Insurance Company failed to fulfill contractual obligations that were outlined in an insurance policy that was to cover termination of employment claims. Bruce Levenson was the controlling partner for the company that formerly owned the Hawks basketball team at the time the coach was terminated. Danny Ferry’s termination was though to be covered according to the policies guidelines.
An agreement was reached between Danny Ferry and the ownership of the Hawks. The amount of the settlement was undisclosed but the company was sold (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/) two days later to the group that now owns the Hawks and whose principle is Tony Ressler. Danny Ferry’s original contract was for six years and salary of $18 million.
Bruce Levenson has been involved in a variety of business ventures over the years. He has co-founded United Communications Group. He is also a board member of IT Industry and TechTarget. In regards to UCG, they provide information in the oil and gas industry such as the Oil Price Information Service which offers up to the minute oil prices and Gas Buddy which is an app that assists truck drivers in finding the very best gas prices in an area.
Bruce Levenson lived in Chevy Chase, Maryland during his early years as a child. He later attended Washington University in St. Louis. He then attended American University where he graduated from law school. While still in college at American University, he was writing for the Washington Star. According to Time Magazine – Bruce Levenson is not only a seasoned businessman, but he is also an active philanthropist that has contributed to a variety of organizations throughout his long career. Some of those organizations include the I Have A Dream Foundation and the Hoops And Dreams Foundation. Read more on PR Newswire.com.