Bruce Levenson, the former owner, has filed a suit against AIG after a big event in 2014 where the team was sold for $1 billion. Bruce was the majority shareholder of the team and hence the controlling partner. The billionaire had used his bankers to settle the sale agreement, and most people believe that it was oversold by about 27%. Others also believe that the team was worth the amount sold for. Bruce’s suit does not include the owners of the team but the former General Manager Danny Ferry and AIG. AHBE bought out Danny Ferry’s contract and later reported losses from the action. They have sought AIG to settle the claim, but AIG refused to honor the claim. AHBE is now seeking compensation for the same in court which includes all the attorneys’ expenses. The sale of the tea was a major event for Bruce, but there are still details of the deal still being ironed out.
Before this, he was a journalist that worked with unified communications Group. The company deals with the release of oil production news and later expanded to other industries including telecommunications and technology. They also came up with an application known as GasBuddy which helps drivers locate cheap gas priced stations near them. He later purchased Atlanta Hawks in 2004 before selling it in 2014.See, brucelevenson.com.
Bruce Levenson has been part of the main charity prospects besides owning the Hawks, reveals PR News. He works with foundations such as Birthright Israel, the Jewish Federation, Hoop Dreams and also helped support the Holocaust Museum. The museum showcases the stories of the Jewish Holocaust survivors. The museum is close to his heart since his mother in law was a holocaust survivor. He took the whole Hawks team to the museum in 2014. He has also been the primary sponsor of the Concert against hate in 2015. http://www.espn.com/nba/story/_/id/11493472/jason-whitlock-bruce-levenson-atlanta-hawks