The change in ownership of the Atlanta Hawks that took place in 2014 still has aspects hanging over the heads of the former ownership of the historic NBA franchise. Bruce Levenson, the head of the former ownership group Atlanta Hawks Basketball & Entertainment LLC is now looking to tie up all the loose ends of his successful decade in charge of the franchise, including the final details of the payoff provided to former general manager Danny Ferry.
According to Forbes.com, with most changes in ownership the Tony Ressler led consortium who purchased the Hawks from Levenson’s group wanted to bring in their own staff to lead the franchise after their purchase; Levenson and his fellow owners reached an agreement with Ferry to end his six year contract as general manager two days before the final sale was announced. Levenson believes an insurance policy protecting the Hawks ownership from claims for unfair or constructive dismissal should have allowed a claim to be made that limited their losses over the deal made with Ferry; however, insurance giant AIG has so far refused to make a payment of the policy and prompted a legal claim made in New Hampshire by the former owners of the Hawks.
Bruce Levenson made a success of his ownership of the Hawks, which he has done with every business move he has made since the establishment of the United Communications Group with business partner Ed Peskowitz in 1977. Working as a journalist in 1977 Levenson and Peskowitz began producing news letters for the oil industry that have now morphed into one of the most successful real time analytics groups in the world. Levenson has done much for the communities he works and lives within, including helping to establish the U.S. Holocaust Museum in Washington D.C. that aims to keep the memories of the World War II genocide alive in the 21st century.