Bruce Levenson sold the Atlanta Hawks a little over a year ago to Tony Ressler after owning the team for about 11 years, reports Forbes.com. On the way out, he appears to have hit a snag with AIG, the team’s former insurance company. According to the Atlanta Journal-Constitution, Levenson along with Atlanta Hawks Basketball & Entertainment had opted to buyout then General Manager Danny Ferry’s contract as he would not be part of the new ownership, and under the insurance policy at the time AHBE and Levenson were entitled to file a claim for losss incurred by such an event. AIG however, does not acknowledge AHBE and Levenson’s rights to do so, and as a result have not honored this claim. Levenson and AHBE are planning to sue AIG for not honoring the claim, and for any damages relating to court costs.
Bruce Levenson has been a major business figure for nearly 40 years, primarily known for co-founding United Communications Group (UCG). He started this company out of his home where it began with his journal, Oil Express, a source of information for oil industry news. Soon he built the company portfolio to many other publications including technology journals, healthcare news, and even information about mortgage and real estate. UCG is also the owner of Gas Buddy, a gas price mobile app that’s come in handy for many truck drivers.
Levenson also sat on the boards of several charity groups including Hoop Dreams and the I Have a Dream Foundation. He also wanted people to learn about the importance of the Holocaust, so he started the “Bringing the Lessons Home” foundation to teach young people about it and even give them an opportunity to become tour guides at the Holocaust Memorial Museum. He also is the key founder of the University of Maryland’s Center for Philanthropy and Non-Profit Leadership, https://www.benzinga.com/news/17/03/9165680/university-of-marylands-non-profit-initiative-is-changing-higher-education.