Bruce Levenson Still Closing The Books On Atlanta Hawks Sale
In a report by Forbes, the Atlanta Hawks were sold to Tony Ressler and his group in March of 2015, but due to some financial snags, the former group of owners led by Bruce Levenson have now found themselves in a legal battle with AIG, their insurance provider. Levenson and his group wanted to buy out former General Manager Danny Ferry’s contract, and as part of the sale they believe their insurance contract allowed them to file a claim for such a situation. However, AIG doesn’t appear to be acknowledging the validity of this claim and thus far has refused to issue payments to Levenson’s group. The case has been taken to court.
Bruce Levenson has spent much of his career both as the Hawks owner, and the owner of United Communications Group, a publication business that he started. Levenson actually started out at law school at American University, but took an interest in journalism. He helped found United Communications Group with his friend Ed Peskowitz, starting out with Oil Express, an oil industry journal. UCG grew into a major industry conglomerate that published news about all sectors ranging from healthcare to technology. They eventually founded subsidiaries in TechTarget and BIA Digital Partners, and also developed the Gas Buddy app.
Levenson owned the Hawks from 2004 to 2014 and served on the board of several charity groups. One that he chaired was Hoop Dreams Foundation, a youth basketball event that was hosted in Washington DC to help low income families afford scholarships. Levenson is also a major contributor to the Holocaust Memorial Museum in DC, and even once took the Hawks team to the museum where his mother-in-law shared stories of her survival. Levenson also contributes to Jewish foundations such as Birthright Israel, Seeds of Peace and BBYO. He also helped start Concert Against Hate back in 2015.