One of the biggest sports stories (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/) a few years ago surrounded the sudden sale of the Atlanta Hawks. Part of the sale had to do with a controversial firing of Danny Ferry, a former player and member of the front office staff. After the dust settled, the former ownership group of the Hawks, including Bruce Leveson, payed a substantial buyout of Ferry’s contract.
According to Wikipedia, the former ownership entity of the Hawks, Atlanta Hawks Basketball and Entertainment LLC, has submitted a claim to AIG to be covered for the settlement and payout. The ownership entity had a policy that covered any similar situations, but AIG has not yet paid out on the claim. AIG has even gone so far as stating that a claim was not filed. Due to the lack of response, the former ownership group has started the process of suing AIG to recoup on the settlement that they had to pay out to Ferry.
Bruce Levenson had a controlling share of the Atlanta Hawks from 2004 until 2014. Prior to his ownership of the team, he was a key member in the founding and development of the United Communications Group. In his tenure with the company, he grew the firm from a small organization to one of the most profitable businesses in the country. Beyond his time spent organizing and developing UCG and set owning the Atlanta Hawks, Levenson has also been involved in a number of different charities. For a period of time, he was the President of the I Have a Dream Foundation, which helped low-income children obtain a higher education.
For more info, visit brucelevenson.com.