Events That Occurred After Bruce Levenson Sold The Atlanta Hawks

Bruce Levenson‘s sale of the Atlanta Hawks for $850 million was approved and the team is now in the possession of Tony Ressler’s group. Levenson owned the team after he and Ed Peskowitz formed Atlanta Spirit, LLC in 2004 and purchased the Hawks as well as their arena as part of a large deal. Bruce Levenson decided to sell the Hawks in 2015, but a decision to buyout former General Manager Danny Ferry’s contract has led to a court battle with their insurance company, AIG. Levenson and the other owners’ policy with AIG was supposed to cover any issues regarding termination, and Ferry’s attorneys maintain that he was in his rights to file the claim, but AIG is refusing to accept it. The situation is being resolved in court at the moment.

Bruce Levenson is originally from Washington D.C. and started out as a journalist for the Washington Star newspaper. During that Time, he was attending law school at American University when he got the idea to start his own publishing company. So he and Ed Peskowitz began publishing their own newsletter, “Oil Express” out of their apartment and this publication soon led to the creation of more newsletters and then Unified Communications Group (UCG) was born. UCG is a worldwide distributor of newsletters in the energy, education, healthcare, mortgage banking and technology sectors and is also the founding company of TechTarget, a technology research company and GasBuddy, an app for finding cheap gas prices.

Levenson has also been on the boards of several non-profit organizations including Hoop Dreams and the Community Foundation of Washington. He’s been a donor to the Holocaust Memorial Museum and was part of the effort to launch the “Bringing the Lessons Home” initiative for helping young people become tour guides. Levenson and his wife also chaired the Concert Against Hate event held in partnership with the Anti-Defamation League.

Reference: https://en.wikipedia.org/wiki/Bruce_Levenson