Court Battle Still Looming With Bruce Levenson And AIG Insurance

Bruce Levenson successfully sold the NBA’s Atlanta Hawks in the summer of 2015, an $850 deal that transferred the franchise’s ownership to Tony Ressler and Company. According to ESPN, Levenson had bought the majority of shares in the franchise in 2004 as well as the controlling shares in Phillips Arena and the NHL’s Atlanta Thrashers. After the sale to Tony Ressler, Levenson took the team’s former insurance company AIG to court because of a dispute over a claim they filed. Levenson had terminated then General Manager Danny Ferry’s contract and reached a buyout agreement, and Ferry filed a claim for compensation for losses, but AIG has not responded to the claim. Levenson and Ferry’s attorneys want relief for bad faith insurance and court costs.

Bruce Levenson is the founder of United Communications Group (UCG), a technology news and research publication company he founded about 40 years ago. Levenson is a native of Washington D.C. and he worked for the once famous Washington Star paper after completing his bachelor’s degree in journalism at Washington University. He and his friend Ed Peskowitz decided to enter the publication field on their own when they started “Oil Express” in their own apartment, and soon that newsletter gained traction and led to the publishing of more newsletters and the official founding of UCG. Levenson also spearheaded the founding of TechTarget and later the gas price app, GasBuddy.

Levenson is the former president and chairman of Hoop Dreams, a non-profit scholarship fund organization that ran youth basketball tournaments in downtown Washington D.C. He’s also been a longtime member of the Holocaust Museum’s Board of Trustees and once took the Hawks basketball team there to hear the story of his mother-in-laws survival. Levenson and his wife Karen also are founding members of the University of Maryland’s non-profit leadership center, a wing of the school whose goal is to encourage future entrepreneurs to engage in philanthropy.