The Atlanta Hawks Basketball & Entertainment LLC consortium headed by Bruce Levenson was once the ownership group controlling the NBA franchise of the same name and operated Atlanta’s Phillips Arena. Although the consortium sold the Hawks and arena operating rights in a deal announced in June 2015, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/, an insurance claim made with AIG has dragged on and will now head to court as Bruce Levenson looks for a final ruling.
The issue for Bruce Levenson and his fellow consortium members is the mutual termination of the contract of former Hawks General Manager Danny Ferry, who agreed to terminate his contract days before the sale of the franchise to billionaire Tony Ressler. Levenson and his fellow consortium members had already been discussing the prospect of a constructive dismissal claim with AIG after comments made by Ferry in the buildup to the sale of the Hawks to Ressler’s consortium. Danny Ferry had been awarded a six year $18 million contract in 2012 that was terminated at some cost to the Atlanta Hawks Basketball & Entertainment consortium; the former Hawks ownership group is now looking to reach a financial settlement in a Fulton County Court and win a 50 percent financial penalty against AIG for breach of contract.
Bruce Levenson is a graduate of the University of Washington, but has spent the majority of his life and career working and living in Washington D.C. and the state of Maryland. According to PR Newswire, in a bid to assist the people of Maryland in living better lives Bruce Levenson and his wife Karen have worked alongside the University of Maryland to create a Center for Philanthropy and Not For Profit Leadership; Bruce and Karen provided the seed funding for the school and continue to raise funds from all areas of the community to help people around the world live better lives.