Former Atlanta Hawks’ Ownership Group Led By Bruce Levenson Sue Insurer Over Failure To Cover Buyout Agreement With Danny Ferry

Bruce Levenson is the controlling partner of the Atlants Hawks Basketball and Entertainment LLC (AHBE), the former owners of the Atlanta Hawks franchise in the National Basketball Association (NBA). Danny Ferry was employed by the company as the general manager of the franchise pursuant to the terms of a six year contract executed in 2012. Due to problems arising out of his employment, management and Ferry entered into a confidential buyout agreement on June 22, 2015. Shortly thereafter, the franchise was sold.

AHBE had an insurance policy with AIG which the Levenson company believed covered losses from employment practices such as the settlement with Ferry. AHBE notified AIG of the claims by Ferry, but according to a lawsuit filed by AHBE in Atlants on September 13, 2016, AIG refused to acknowledge the claim, participate in any settlement negotiations, and pay any of the buyout money. The complaint is based upon the legal principles of breach of contract and insurance bad faith. It seeks damages in the amount paid to Ferry, which is not listed, along with penalties, attorney fees, and costs.

Bruce Levenson is a graduate of Washington University in St. Louis, and the law school at American University. He is co-founder of United Communications Group, and he is a director of

According to ESPN, the sale of the Atlanta Hawks ended Levenson’s association with the NBA where he served on the Board of Governors. Levenson and his investment group purchased the Hawks in 2004.

Comments are closed, but trackbacks and pingbacks are open.