The former owners of NBA franchise Atlanta Hawks made one of the most lucrative deals in history. However, the sale was marred by several controversies ranging from overpricing claims to lack of transparency. Once again, the former ownership is at the center of controversy. It is suing New Hampshire Insurance Company for what it terms as a breach of contract made during settlement of claims involving the former general manager Danny Ferry.
According to the complaints, the insurance company, which is also known as AIG, acted in bad faith and did not adhere to the terms and conditions articulated in the contract document. AIG did not cover certain elements in their insurance policy. In the lawsuit file, the former ownership, led by Bruce Evensong indicated that the insurance company ignored claims asserted by Ferry in their capacity as Atlanta Hawks’ insurance provider.
About Bruce Levenson
Bruce Levenson is the former owner of Atlanta Spirit LLC, the company behind the success of NBA’s Atlanta Hawks. Bruce became the center of focus in NBA community when he decided to sell the team to new owners. After months of negotiations characterized by controversies, he sold the club to Antony Ressler for a whopping $850 million. This was one of the most tightly contested sales in NBA’s history. See, http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/.
Bruce Levenson is also behind the success of several companies. According to Time Magazine, he is the co-founder and managerial partner at United Communications Group. He was among the pioneer members of UCG Company including Ed Peskowitz. Before he became a businessman, he used to write for the Washington Post. His articles mainly focused on sports and lifestyle. He served as a member of the Board of Directors at Newsletter. Bruce is currently the Chairman of Nominating and Corporate Governance Committee. He is a graduate of Washington University and American University.