Category Archives: Business News

Bruce Levenson: Former Owner Of The Atlanta Hawks And Longtime Businessman

Bruce Levenson (http://brucelevenson.com/) owned the NBA’s Atlanta Hawks from 2004 to 2015, recently selling the team to Tony Ressler, Grant Hill, and a group of other owners, reports Forbes.com. But on the heels of this sale, Levenson has become involved in a legal battle with the team’s former insurance company, AIG. Levenson and Atlanta Hawks Basketball & Entertainment (AHBE) decided to buy out former General Manager Danny Ferry’s contract, and during the settlement Ferry filed a claim with AIG Insurance that was to cover losses suffered in such a situation. Even though AHBE asserts that Ferry met the requirements needed to file a claim with AIG, the insurance company has refused to pay any compensation. The issue has been taken to court where Levenson and AHBE will look to sue AIG for damages.

Bruce Levenson owned a major media publication business before he bought the Hawks. He got his bachelor’s degree from Washington University and started his journalism career at the Washington Star. He later started his business, Unified Communications Group (UCG) from his own home and partnered with his friend Ed Peskowitz to run it. UCG began with Levenson’s first newsletter, Oil Express and soon purchased several more covering industries from energy to finance. Levenson is also on the board at private equity firm, BIA Digital Partners.

Bruce Levenson helped start several philanthropic organizations, including the University of Maryland’s Center for Philanthropy and Non-Profit Leadership. He also sat on the board of Hoop Dreams and the “I Have a Dream Foundation.” Levenson has not only donated to the Holocaust Memorial Museum, but has been involved in their programs, including the “Bringing the Lessons Home” program for inner city teenagers to learn about the event and become guides at the museum. Levenson also helped the Anti-Defamation League launch the “Concert Against Hate” to fight against intolerance and bigotry.

Source: Wikipedia.org

Bruce Levenson

A breach of contract lawsuit has been filed against Bruce Levenson. This is regarding the claims settlement made by Danny Ferry, the former general manager of the Atlanta Hawks. This lawsuit does not involve the current ownership group. This lawsuit was filed on September 13th for breach of contract and bad faith insurance.

According to ESPN, the Hawks and Ferry ownership has come to a buyout agreement, although undisclosed. This dissolved the relationship that began in 2012 with a contract for $18 million dollars. The Ressler group was approved regarding the sale two days later.

In the court documents, the claim amount is confidential. Now, according to this lawsuit, Mr. Ferry’s claims have triggered the AIG policy. These claims also fall within the coverage of the policy. AIG has refused to pay siting insignificant justification of the claims made. There was no basis to state that such a claim was not covered. This lawsuit is now also after a 50 per cent penalty for all unpaid losses, attorneys costs and fees.

Brice Levenson is an American businessman, and the former co-owner of the Atlanta Hawks LLC. In addition, he has served as the Hawks Governor since 2004. He co-founded the United Communications Group in 1977 and is a member on the board of directors for TechTarget, a publicly traded IT industry media company.

Bruce Levenson was born in Washington DC to a Jewish family. While growing up, he lived in Chevy Chase Maryland. He went to college in St. Louis at Washington University and graduated law school from American University. His journalism career started at the Washington Star while he was attending law school at night.

Source: https://en.wikipedia.org/wiki/Bruce_Levenson

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Bruce Levenson Gives Back

Bruce Levenson grew up in Washington D.C. with big dreams in mind. He co-founded the company UCG (United Communications Group) in a storage room above his fathers liquor store. Just a year after starting the company UCG won its first journalism award for editorial excellence. Since then, it has won over 125 such awards. It was even recognized as one of the Best Places to Work in the Washington metropolitan area. The company is based in Washington D.C. and is flourishing. There are now offices in Europe and Asia and employs over 1,000 people. UCG is a private company that specializes in data, analysis for healthcare, mortgage banking and technology to name a few. It was one of the first business information companies to deliver its information online. He is also a director of TechTarget, which serves as the online intersection of serious technology buyers. It targets technical content and technology providers worldwide. Interesting enough he is also a partner in Gasbuddy which helps users find low priced gasoline in their areas. Over 45 million people have downloaded the app. Bruce is also very much so interested in cooking and food. He co-founded DOT which is a cooking technology that can toast sliced bread in just three seconds.

Bruce Levenson was also a majority partner of Atlanta Hawks LLC which is a group of people who own the Atlanta Hawks basketball team. He recently hired Goldman Sachs and Inner Circle Sports to sell the team at $730 million.

Bruce also serves on the board of the Specialized Information Industry, Community Foundation of Washington, DC, Hoop Dreams Foundation and was the president of the “I Have a Dream” Foundation of Washington. He has made significant donations to the SEED Foundation and the U.S. Holocaust Museum as his mother in law is a Holocaust survivor. He and his wife Karen created the Center for Philanthropy and Non-Profit Management at the University of Maryland. The goal for this center is to educate and empower non-profit leaders. Giving them the tools they need to succeed within their philanthropic endeavors. The also want to ensure that every student graduating from the University of Maryland graduates with all of the information they need to be a motivated philanthropist. In their classes they sometimes bring in prominent philanthropists as guest speakers. Each class gives away $10,000 to non-profit organizations based on a thorough assessment of proposals, site visits and a class vote.

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