Archive for the ‘NBA franchise’ Category

GM Contract Dispute Leads Bruce Levenson To Court

January 5th, 2017

The sale of the Atlanta Hawks NBA franchise to a consortium headed by the billionaire Tony Ressler for a reported $730 million by Forbes may have brought an end to the ownership of the team by a group headed by Maryland based business leader Bruce Levenson, but the head of UCG is still fighting insurance giant AIG over a claim made prior to the sale of the historic team. Former Hawks General Manager Danny Ferry is the subject of the claim after Levenson’s legal team stated an insurance claim made over the mutual termination of his contract had not been responded to by AIG since the completion of the sale of the franchise to Ressler.

Legal papers filed with a Fulton County court detail the timeline of the insurance claim, but do not reveal the level of financial reward being sought by the Atlanta Hawks Basketball & Entertainment LLC consortium; papers that have been made public do state the Levenson led group is seeking a 50 percent financial penalty against AIG and all legal costs to become the responsibility of the New Hampshire based insurance giant. AIG were notified prior to the termination of Danny Ferry’s contract about comments relating to a constructive dismissal insurance claim.

Over the course of his career Bruce Levenson has created a number of different businesses beginning in the 1970s when the former journalist established the United Communications Group alongside his business partner Ed Peskowitz. Beginning as a new form of oil industry newsletter the business has now become a supplier of real time information to industrial sectors from around the world; communications technology developed for UCG has been used by Bruce Levenson to create new business opportunities, including the TechTarget company and the popular GasBuddy app that provides information for general consumers.