Category: Asset Management

Bruce Levenson’s Timeline From UCG To AIG Settlement Case

Bruce Levenson is bringing an insurance company to court for their failure to cover a settlement that they filed in a claim. In this particular settlement, former General Manager Danny Ferry faced an employment termination situation that he filed an insurance claim to cover, and the Atlanta Hawks Basketball & Entertainment (AHBE) group decided to buyout his contract. But AIG, the team’s insurance company refused to pay the claim, and Bruce Levenson and AHBE has decided to take them to court to sue for damages. In a report by Time.com, Levenson and AHBE sold their shares of the Atlanta Hawks in June of 2015 to Tony Ressler and company after owning the team for about 12 years.

Bruce Levenson was a journalist and entrepreneur before he became a sports franchise owner. He studied journalism at Washington University and even went to law school at American University, but decided becoming a lawyer wasn’t for him. He founded a business news organization, Unified Communications Group (UCG) in 1977, and it began building a portfolio of newsletters covering the oil, banking, healthcare and technology industries. UCG is the parent company to a technology product research and consulting company, TechTarget of which Levenson helped launch. Levenson bought the Atlanta Hawks in 2004, and has also served on the NBA’s Board of Governors. See his Wikipedia page for more info.

Levenson has a passion for helping inner city young people achieve higher education, and as part of that endeavor he helped sponsor Hoop Dreams foundation back in the early 2000’s. He and his wife Karen also helped start the Center for Philanthropy and Non-Profit Leadership at the University of Maryland to encourage up and coming entrepreneurs to become philanthropists while running a business. Levenson is also a major donor to the Holocaust Memorial Museum in Washington D.C., and is also active in several Jewish organizations such as Seeds of Peace and Birthright Israel.

Read More: http://www.espn.com/nba/story/_/id/11493472/jason-whitlock-bruce-levenson-atlanta-hawks