Bruce Levenson was the controlling partner for the Atlanta Hawks Basketball and Entertainment LLC, an outfit that formerly owned the NBA team of the same name. AHBE had been insured through AIG for problems relating to workforce and employment such as wrongful termination and workplace torts.
In 2012, ABHE came into a contractual relationship with Danny Ferry when they signed him on for $18 million as their general manager. That agreement ended six years later with a buyout whose terms have remained undisclosed. It was just two days later that the franchise changed hands from ABHE to Tony Ressler (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/), who in no way is connected to the lawsuit involving former Atlanta Hawks ownership. Mr. Ferry later filed a claim that the terms of his release were violated, prompting ABHE to notify their insurance provider of said report. This occurred on April 2, 2015, according to court documentation.
According to the paperwork filed by ABHE, AIG has failed to make good on the claim was made to them by ABHE. Furthmore, ABHA has stated that the terms of Mr. Ferry’s complaint and the amount needed to settle were both sufficient to trigger payment from the insurance firm. ABHE has filed a lawsuit against the New Hampshire-based insurance firm citing breach of contract for lack of payment. AIG denies that a claim was ever made to their company.
Time Magazine’s Bruce Levenson reaped significant profits from the sale of ABHE, as it fetched a sum of $730 million. He is currently the Director of TechTarget.com and has served in this capacity since 2015. He is also the co-founder and partner of United Communications Group and owns Atlanta Spirit, LLC. Additionally, Mr. Levenson has sat on the Newsletter and Electronic Publishers Association Board of Directors.
Mr. Levenson is an avid philanthropist and has presided over Washington D.C.’s ‘I Have A Dream Foundation’ as its president. Mr. Levenson studied at both Washington University and American University, holding his Bachelor’s of Arts degree from the former and his Juris Doctor degree from the latter. Read more about his philanthropic works on prnewswire.com.