The conundrum of Atlanta Hawks ownership

The former owners of the NBA franchise, The Atlanta Hawks Basketball and Entertainment LLC, has gone to court against New Hampshire Insurance Company for alleged breach of contract regarding the settlement of claims brought forward by their former general manager Danny Ferry.

Controlling partner Bruce Levenson was included in the former Hawks ownership group (AHBE). The filed lawsuit does not involve the present Hawks ownership group. Its current principal owner is Tony Ressler. The lawsuit was filed on thirteenth September at the Superior Court of Fulton County. They described it as an insurance bad faith and a civil action for breach of contract.

The Ferry and Hawks ownership decided to terminate the six-year relationship in June last year. This involved an undisclosed buyout agreement. The franchise was then sold to the Ressler-led group two days later.

The current Hawks ownership said that they were aware of the complaint but the two parties involved no longer have any influence on Atlanta Hawks organization and no further comments will be made regarding the issue.

Courts documents term the claim amount as confidential and the limits of the liability are sufficient to play AHBE’ claim. The lawsuit illustrates that AIG has declined to acknowledge that the suit was made hence declining that the policy was triggered. The claim is also seeking an additional fifty percent penalty of the attorney’s fees and costs and unpaid loss.

Bruce Levenson is a renown American businessman, philanthropist Forbes billionaire hand the former owner of Atlanta Hawks. Bruce was born from a humble Jewish family in Washington, D.C. His family then shifted to Chevy Chase, Maryland.

http://www.ucg.com/AboutUs/Ownership.aspx

He was a bright kid and attended Washington University in St. Louis. He then graduated from American University with a law degree. In 2004, he was the Hawks governor at the NBA board of governors. Read more about Mr. Levenson on time.com.

 

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