In a report by Forbes.com, recently a former ownership group of the Hawks basketball team has decided to sue an insurance company. Atlanta Hawks Basketball and Entertainment, the LLC formerly responsible for the Hawks, claims that AIG promised to cover claims involving employment related issues but failed to make good on this promise. Specifically it is suing the insurance firm based on the recent decision to sell the Hawks team. Included in this lawsuit are the names of former Hawks manager Danny Ferry and controlling partner of the AHBE Bruce Levenson. They are seeking to both recover their claim and an additional 50% penalty for the loss.
The controlling partner of AHBE is a prominent businessman in the world of sports. Since 2004 he has owned the Seattle Hawks and played a prominent role in promoting the brand. To assist him he hired former general manager of the Cleveland Cavaliers Danny Ferry to manage the team. With his assistance Levenson made the Hawks the pride of Atlanta and a prosperous franchise. With the help of an investment management team, UCG founder Bruce Levenson intends to move on to other projects. He has decided to move on from this venture and will sell his shares in the Hawks to focus on other projects he considers more important.