In June 2015 the owners of the Atlanta Hawks, led by Bruce Levenson, reported they had agreed to sell the NBA franchise to a consortium headed by Forbes billionaire technology executive Tony Ressler. Bruce Levenson and his fellow members of the Atlanta Hawks Basketball & Entertainment LLC consortium completed the sale of the franchise, yet are still looking to bring to a close all the aspects of their ownership of the one time winner of the NBA Championship.
Bruce Levenson and his consortium purchased the franchise in 2004 with the Hawks rooted at the foot of the NBA standings, over the course of the following decade Levenson led the franchise to the number one seed position at the close of the 2014-2015 regular season. Upon announcing their decision to sell the Hawks franchise Bruce Levenson began working with Goldman Sachs and Inner Circle Sports to broker a deal to sell the basketball team and the right to operate Phillips Arena.
The time spent at the Atlanta Hawks by Bruce Levenson was not only successful in sporting and business terms, but also included a series of successful philanthropic endeavors, including work with the Hoop Dreams charity and Make A Wish Foundation. Bruce Levenson also made sure the Hawks had a national and international presence when he led members of the playing and support staff on a visit to the U.S. Holocaust Museum in Washington D.C. in 2014.
The termination of the contract of Danny Ferry forms the basis of the claim being made against AIG for breach of contract and insurance bad faith. Bruce Levenson’s legal team are hoping to complete a financial settlement with AIG in court that will include a 50 percent penalty after the insurance company refused to acknowledge the claim had even been made on the policy held by the Atlanta Hawks Basketball & Entertainment LLC consortium.