Bruce Levenson and a group of former NBA owners are in the middle of a court battle against their former insurance company, AIG. The dispute started back in June of 2015 after Levenson had decided to sell his shares of the Atlanta Hawks, and the ownership was transferred without any difficulties. But in the midst of the sale Levenson and the other owners opted to terminate General Manager Danny Ferry and buyout his contract, a move that should have allowed Ferry the right to payments from AIG. But AIG has refused to follow through with any agreement and Levenson and the other owners are promising to fight back even if it means a lengthy court hearing process.
According to ESPN, Levenson bought the Atlanta Hawks along with their arena back in 2004. Before that he founded United Communications Group (UCG), a well-known technology and industrial newsletter publisher. Levenson is an alumnus of Washington University where he got his degree in journalism, and he also worked as a reporter for the Washington Star, a now defunct newspaper that was based in Washington D.C. Levenson decided to launch his own publishing business in 1977, and he and Ed Peskowitz published “Oil Express” followed by several other newsletters. Their business became so successful that it expanded into other countries and became a dynamic technology news source. UCG also became the parent to TechTarget and GasBuddy, an app for locating low gas prices.
Levenson’s philanthropy has included many inner city programs aimed at higher education for minorities including Hoop Dreams and the “I Have a Dream” Foundation. But he also wanted to encourage college graduates going into business to make philanthropy a centerpiece of their work, so he helped start the Center for Philanthropy and Non-Profit Leadership at the University of Maryland. Levenson is also on the boards of SEED Foundation, Birthright Israel and BBYO and also is a contributor to the Holocaust Memorial Museum.