Insurance Claims Drag On For Bruce Levenson After Hawks Sale
The sale of the Atlanta Hawks NBA franchise by the Atlanta Hawks Basketball & Entertainment to billionaire Tony Ressler seemed to pass off without a hitch, but for the former ownership group an unpaid insurance claim they made with AIG is keeping them ties to the team they led over a successful decade. According to Time Magazine, the leader of the Atlanta Hawks Basketball & Entertainment group, Bruce Levenson headed the purchase of the group in 2004 and oversaw an upturn in fortunes for the franchise before eventually handing General Manager Danny ferry a six year, $18 million contract in 2012.
As the sale of the Hawks (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/) drew closer in 2015 the contract of Ferry and its mutual termination became the subject of the insurance claim made with AIG after Levenson’s lawyers decided the GM’s actions could be seen as constructive dismissal. Bruce Levenson and his legal team began the negotiations over the insurance claim with AIG in April 2015 and believed an agreement had been reached; however, Levenson’s lawyers now state AIG has refused to communicate with the former ownership group or acknowledge their claim in any fashion.
Bruce Levenson has made his name as a business leader after swapping a career as a journalist for the production of newsletters, initially for the oil industry and later for a range of sectors. Levenson and his business partner, Ed Peskowirz, have consistently moved with the times to make sure their United Communications Group evolves to provide the best information in real time via the Internet in the 21st century.
Despite the success achieved by UCG, http://www.ucg.com/AboutUs/Ownership.aspx, Bruce Levenson has never lost sight of the fact his success is rooted in the Washington D.C. and Maryland area, which remains the home of his business group; the University of Washington graduate also focuses his many philanthropic practices on areas in Maryland, Washington D.C., and the Atlanta area he grew to know as the head of the Hawks organization.