The ownership group that formerly owned the Atlanta Hawks NBA franchise recently filed a law suit against their insurance carrier over claims related to the resignation of ex-general manager Daniel Ferry. The present lawsuit does not involve the current ownership group led by businessman Tony Ressler. http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/
The lawsuit, which was filed in an Atlanta court, alleges that insurance company AIG refused to pay or even acknowledge the filing of claims arising from the Ferry matter. Before the ownership change, management and ownership negotiated According to ESPN, Ferry’s departure, and, according to the suit, the costs associated with ending Ferry’s relationship are covered by various clauses in policies held by the Atlanta Hawks.
Bruce Levenson was the lead owner of the Atlanta Hawks from 2004 to 2014. His first experience as an entrepreneur was as the founder of United Communications Group, or UCG. Levenson and a friend started the company in 1977 as a newsletter for the oil and gas industry. Despite starting out in Levenson’s living room, over the years the company became a powerhouse in data and analysis for several industries. UCG is also the originator of GasBuddy, an app that makes it easy for consumers to find the cheapest gas station near them.
For more info, visit brucelevenson.com.