The former owner of the Atlanta Hawks, Bruce Levenson, has joined with the other members of the former ownership group to pursue an insurance claim that remains unpaid from their time at the NBA franchise. Levenson and his fellow former owners under the Atlanta Hawks Basketball & Entertainment LLC banner are still waiting for an insurance payout they feel should have been made following the agreement reached with former Hawks General manager Danny Ferry to leave the organization just two days before the team was sold to current owner Tony Ressler.
According to Forbes, Bruce Levenson took control of the Hawks organization in 2004 along with his long term business partner Ed Peskowitz and a number of other shareholders, who combined to create a successful period in the history of the franchise over the next decade; during the period with Levenson heading the Hawks the team moved from the bottom of the NBA standings to the number one seed for the playoffs in a single decade.
The success of Bruce Levenson is not limited to the NBA franchise he headed, but takes in the success he has achieved as the co-founder of the United Communications Group alongside Piskowitz. Moving with the latest technology has always been an important aspect of business for Bruce, and led to real time analytics being used for UCG and in the creation of the GasBuddy app.
The lawsuit brought against AIG insurance group comes after the Levenson led Hawks had taken out an insurance policy against any unfair or constructed dismissal claims brought against the franchise. Upon the termination of Ferry’s contract Levenson and his fellow former owners believed the insurance policy with AIG should have been triggered; AIG has so far refused to make payments on the policy without providing reasons why they believe Ferry’s dismissal does not meet the conditions of the insurance policy.