Category Archives: NBA Teams

Why is Everyone Talking About the Hawks Former Ownership?

Published / by Alice / Leave a Comment

This September the former Atlanta Hawks ownership group, including Bruce Levenson and Danny Ferry, filed a lawsuit against the New Hampshire Insurance Company, their former insurance carrier. The group is seeking to refute an unacknowledged claim they filed regarding wrongful termination and workplace tort. Levenson and Ferry sold their shares of the Hawks franchise abruptly in 2014.

Prior to selling the team, Levenson was extremely dedicated to increasing the value of the Atlanta franchise. Leveson resides in Atlanta with his wife; the team was a nostalgic investment for him. When it came time to sell the franchise, Levenson and Ferry sought out the expertise of Goldman and Sachs. According to Forbes.com, it went to the Tony Ressler led ownership group for over $700M.

Levenson’s career in basketball began well before his ownership of the Hawks. Originally, he served as the Hawks’ governor on the NBA Board. Today, he focuses on his philanthropic efforts. Near and dear to his heart are the many Jewish organizations the UCG founder donates his time and money towards. Levenson’s grandmother was a Holocaust survivor and he shares her struggle with those he meets. As the Hawks owner, he even invited the team to accompany him and his mother to the Washington D.C. Holocaust Museum.

Levenson and Ferry have since moved on from their impressive reign of the Atlanta Hawks; however, their lawsuit against New Hampshire Insurance Company lingers in the way. The company has failed to respond to the claim nor the complaint. The official amount for which the Atlantic Hawks former ownership is suing is confidential. However, it is known they are seeking damages in addition to the original claim filed.

Read More: http://time.com/3296175/bruce-levenson-atlanta-hawks-racist-email-kareem-abdul-jabbar/