Lister Wilson

Bruce Levenson Looks To Bring GM Insurance Case To A Close

Ever since the 2015 sale of the Atlanta Hawks NBA franchise to a consortium headed by Tony Ressler was brought to a successful completion former owner Bruce Levenson has been concentrating on the philanthropic work he has been involved in for a number of years. However, Levenson and the members of the consortium he once headed at the Hawks are now hoping a legal challenge will draw their business with the NBA to a close; Levenson and his fellow members of the Atlanta Hawks Basketball and Entertainment Consortium have brought a civil action against insurance giant AIG concerning the contract buyout of former Hawks General Manager Danny Ferry.

A six year $18 million contract was given to Ferry in 2012, but the sale of the franchise in 2015 saw the GM mutually terminate his contract just two days before the purchase of the Hawks was officially announced; Forbes billionaire Levenson’s team began discussing Ferry’s position as early as April 2015 with the insurance provider, but following the September 2015 sale of the franchise have heard nothing from AIG. The finer points of the case are not being discussed by Levenson’s attorneys, but the former hawks owner believes a payout was due on the workplace insurance policy used by the Hawks under his leadership.

Following the sale of the Hawks in 2015 Bruce Levenson has been concentrating his efforts on his philanthropic works, which include a large level of funding and fund raising provided for the School of Philanthropy and Nonprofit Leadership at the University of Maryland. Levenson has also played a key role in many anti racism groups, such as the Anti-Defamation League; in honor of his mother-in-law Bruce Levenson provided a large amount of the funding needed to construct and operate the U.S. Holocaust Museum, which Bruce hopes will keep alive the memory of the Holocaust during World War II for future generation.

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