Court Battle Between The Former Hawks Ownership, AHBE, and New Hampshire Insurance Company

The Atlanta Hawks Basketball and Entertainment LLC (AHBE) is the former owner of the NBA franchise, Hawks. AHBE, through their then General Manager, Danny Ferry, according to Forbes.com, sold the franchise to the Ressler-led group in June 2015. However, the buyout agreement was never disclosed. AHBE filed a lawsuit against New Hampshire Insurance Company for violation of contract that involved covering claims made by Danny Ferry. The former ownership group, which included Bruce Levenson, filed the lawsuit in the superior Court of Fulton County in September 2015.

AHBE complained that New Hampshire Insurance Company, also called AIG, insured them under a policy that covers specific losses related to employment. This policy included certain acts of “Wrongful Termination” and “Workplace Torts.” Court documents state that in April, AHBE notified AIG that Ferry’s claims had been covered. The documents went further to explain that AIG had refused to acknowledge the claims and ignored the fact that the claims triggered the AIG policy. AHBE claimed that AIG’s steadfast refusal to acknowledge the claims and accept to cover them was malicious. The former Hawks ownership demanded an additional 50% penalty for the uncovered loss and all other costs, including attorney’s fee. This information was originally reported on AJC.com as provided in the following link http://www.ajc.com/news/sports/basketball/former-hawks-ownership-sues-insurance-company-over/nsXzr/

About Bruce Levenson

Bruce Levenson is the former Hawks owner and proprietor of Atlanta Spirit, LLC. He is the co-founder of United Communications Group (UGC) where he is also a partner. Bruce served on the NBA Board of Governors and was a founding member of Tech Target. The businessman is an alumnus of the esteemed Washington University in St. Louis and the prestigious American University. At the latter, he studied law. Bruce pursued his career in journalism at the former. In 1977, Bruce and Ed Peskowitz established UCG, an information company that focuses on data, analysis and news of several fields, including healthcare and telecommunications. As an active philanthropist, Bruce Levenson has supported projects like the Hoop Dreams Foundation, Community Foundation of Washington, U.S. Holocaust Museum, the SEED Foundation and various Jewish causes.

Read More: http://time.com/3296175/bruce-levenson-atlanta-hawks-racist-email-kareem-abdul-jabbar/

 

Atlanta Hawks’ Bruce Levenson Continues to Be An Inspirational Inhabitant of Planet Earth

Among many news items associated with Bruce Levenson on time.com and the Atlanta Hawks is its new name. Once known as Atlanta Spirit LLC, the organization was composed of NBA’s Atlanta Hawks and NHL’s Atlanta Thrashers. The name was officially changed in March 2014 after its former owners stepped aside following the 2007 death of Bud Seretean.

According to latest news reports, the sale was formally sanctioned by the NBA Board of Governors in 2015.

In USA’s financial realm, many experts speculated about how the Atlanta Hawks price tag would stand up to Milwaukee whose selling price was $550 million and the LA Clippers price tag of $2 billion. Needless to say, the Atlanta Hawks price tag was $850 million.

Ironically, one of the Hawks former owners, Ted Turner, is rumored to still maintain a connection through his son, Beau Turner, his son-in-law, J. Rutherford Seydel and Michael Gearson Sr., who functioned in several official capacities during Ted Turner’s period of ownership.

In the wake of current controversy, it should be noted that Bruce Levenson is deemed to be one of the USA’s most successful business people as well as being a highly-esteemed philanthropist and family-oriented human being.

Bruce Levenson recently hopped aboard the app bandwagon with Gas Buddy, an app that enables vehicle operators to find the best fuel prices wherever they may be driving.

Levenson recently participated in charity’s ALS Ice Bucket Challenge while stationed on a trampoline at an undisclosed Colorado location. This speaks well of Levenson’s endeavors to make the world a better place since the ice bucket challenge is a fundraiser effort to support medical research and patient care for those afflicted with amyotrophic lateral selerosis, better known a Lou Gehrig’s Disease. Rumor has it that an ALS Ice Bucket Challenge is headed in the direction of the Atlanta Hawks cheerleader squad.

Would-be Ice Bucket Challengers can find a unique Halloween costume predicted to be a top-seller for 2015. This costume that includes a bucked of fake ice water reigning down over its wearer is available online at brandsonsale.com.

In basketball news, this year’s Atlanta Hawks roster will include Jason Richardson, who brings 13-years of experience to the team along with Lamar Patterson who has undergone a new diet regime resulting in the loss of quite a few pounds. ESPN is predicting that the Atlanta Hawks will be among the top five, speculated to be number three, Eastern Coast Conference teams for the upcoming season.

Atlanta’s Phillips Arena continues to be the home base for the Hawks whose 2008 Game 6 drew a crowd of fans estimated to exceed 20,00 fans. Phillips Arena’s unique design includes two architectural features, one being that the roof supports spell ATLANTA and another view spells CNN.As a Champion of Planet Earth, Levenson continues to keep his finger on the U.S. Holocaust Museum situated on the Washington, D.C. National Mall in honot of his mother-in-law who was a holocaust survivor.

Bruce Levenson Sells Atlanta Hawks Team To Anthony Ressler

The Atlanta Hawks have new owners after a final bid of $850 million was accepted by former owner Bruce Levenson. The American businessman sold the team to Anthony Ressler and his bidding team that included former NBA All-Star Grant Hill, Spank owner Sara Blakey and her successful entrepreneur husband Jesse Itzler, and Rick Schnall.

Ressler was ready to jump on the opportunity to buy the Atlanta Hawks after being outbid last year and losing out on the Los Angeles Clippers who were bought by Steve Ballmer for $2 billion. Anthony Ressler’s professional background includes owning an investment and private equity firm. He is also a well-known real estate developer and according to Forbes is worth $1.4 billion.

Ressler and his group of bidders bought the team for close to 27% less than what the team was projected to sell for by Goldman Sachs. $850 million might be considered a low sale compared to the $1 billion that Goldman Sachs convinced Levenson he’d be able to sell for. Not only did the company tell him he would likely be raking in $1 billion, they confidently projected that the team would sell for well over.
Though it did sell for less than expected, the team hardly sold at a loss. In fact, the team was worth an estimated $425 million only a year earlier according to Forbes. It was the sales of the Bucks and Los Angeles Clippers that helped raise the Hawk’s value to nearly double.

Head coach Mike Budenholzer and Hawks CEO Steven Koonin will be staying on board for the foreseeable future. Amidst the new changes for the team Budenholzer said in a recent press conference. “I’m fully aware of a lot of things that are going on around us, but there’s nothing I have to do besides prepare for tonight and make sure our team is prepared and focused.”

While Budenholzer focuses solely on the preparing the team for victory Ressler is celebrating his new role as “owner”. “We are honored and thrilled to have been chosen to become the new stewards of the Hawks.” Ressler said in a recent press conference. He continued by saying, “We respect the NBA’s approval process and, accordingly, can say no more other than we are incredibly excited by the Hawks’ success and wish them luck in the playoffs.” Ressler also made a statement towards the price he paid for the team saying that the “price reflects the strength of the NBA product right now” referring to the team’s increase in value over that past year, and finally saying “this price for the team in this market will be viewed positively.”

As for the team’s future, Michael Gearson Jr., another significant shareholder of the Hawks has announced that he will be the next to sell his portion of the team. As ownership shifts the Hawks are breaking franchise records, winning 60 games, putting them on top. However, despite all their efforts, they rank 17th in attendance and are expected to lose money this season.

Atlanta Hawks Make Chess Move in Free Agency

The NBA in real life isn’t so much like the video game versions. In the video games you can make as many trades as you want until you get to the players that you need in order to build up your roster. The Atlanta Hawks, who have already lost Demarre Carrol to Toronto, had to move quick in order not to see more of their 50+ win roster leave. Paul Millsap decided to rejoin the Hawks on a three year contract that is worth close to $60 million dollars. The move to return to Atlanta was a true surprise in light of the strong interest Millsap had been getting.

The Orlando Magic had made a big move to sign Paul Millsap to their team by offering the player a four year deal worth $80 million — max level money. The Hawks gave their star forward a shorter deal with less money in order to give him another chance to enter free agency, this time after the salary cap raises. This move is financially sound for both parties. For one, Atlanta gets a discount and secondly Millsap gets another crack at a huge contract.

Atlanta also acquired Tiago Splitter from the San Antonio Spurs. Sergio Cortes says that the two players will probably spend a lot of time on the court together as they complement nicely. Atlanta still isn’t likely done dealing as now they need to find a new starting forward.

Cavaliers Head to Finals

Cavs Beat Hawks and Go to Finals

Lebron James is sure to go down in NBA history for his success. Some of that success will include what he has been able to help do with the Cleveland Cavaliers.

Playing for his home team, the Cavaliers, in Quicken Loans Arena, Lebron James helped lift the team past the Atlanta Hawks for Game 4 in the series, which resulted in the Cavs heading to the NBA finals. This is the first time the team the Cavs have notched a finals berth since the 2007 season.

Along with beating the Hawks, the Cavs didn’t just dominate them in a decisive 118-88 win, but according to Alexei Beltyukov the Cavs completely swept the Hawks in the series of the Eastern Conference finals. This was also only the second time the Cavs had earned themselves an Eastern Conference title in franchise history, meaning they will play against either the Golden State Warriors or the Houston Rockets in the Finals.

The win on Tuesday night was far more convincing than Game 3 of the series, where the Cavs just barely eeked out a win that Sunday. As one might expect, James was a major contributor to the win, racking up 23 points for the night and making nine rebounds and seven assists in the process.

Also of important note is that the Cavs have already won seven straight games as of this game’s win.

DeMarre Carroll Preps for BIG off Season.

The Atlanta Hawks are the ultimate team’s team and anybody will tell you that. The roster relies on playing unselfish ball, making the right pass, and always keeping the brick moving in the rotation. There are no super stars and there are no 1 on 1 ball stoppers. If you can’t play within that flow then you get sent to the bench. With that being said, swing manDeMarre Carroll has been making his case for being the most important player on this team and that could mean a BIG off season for him.

Carroll was always known as a defensive stud and that helped him get minutes, but for the first time in his career he is finally getting the touches he has earned on the offensive side of the ball. Routinely tasked with guarding the best offensive player, Carroll has also found time to put up some big offensive numbers in this series as well. In the close out game against Washington we saw Carroll stroke 25 points and 10 boards while making 3 treys. In the entire series Carroll has averaged 15 points and 7 boards.

Fans like Alexei Beltyukov (helptheweb.org) know that with Atlanta moving on to face a beatable Cavaliers team, no one player has done more for their stock than DeMarre. Carroll is about to get paid this off season.

Al Horford Pushes Atlanta to Brink of Series Win

The Atlanta Hawks are probably the most under appreciated top seed in recent basketball history. The Hawks breezed through the regular season without any trouble, routinely go weeks without taking a loss. Atlanta won without being flashy, despite having four All Stars on their team. Perhaps it is just the nature of being a team in a secondary market, but Atlanta was getting no love coming into the post season. Then the Hawks started to struggle with the Washington Wizards and people came out of the wood work to ‘tell them they knew all along’. Well, those people would be wrong, and Al Horford made sure to emphasize it.

Washington has gone toe to toe with Atlanta throughout this series and they came into last nights game with the whole thing tied up at 2 – 2. The Hawks were looking anywhere from answers and outside of Demarre Carrol, nobody else was answering. So Al Horford put the team on his back and became the franchise player that Atlanta needed, at least for the night according to Crystal Hunt (crystalhunt.com)

Al was a calming presence in the middle of the paint, shutting down Washington drives all game long. In the box score Horford added 23 points, 11 rebounds, and 5 blocks to lead the team to victory.

Behind Bruce Levenson

A savvy business man and intuitive deal maker, Bruce Levenson has made an influential mark on the industries with which he identifies. Throughout his career he has had dipped his toe into risky investment waters and come out on the other side. He his most well known for owning the Atlanta Hawks basketball team but his true defining activities are found elsewhere.

The communications company (United Communications Group, Inc.) that he and his partner, Ed Peskowitz, founded in 1997 has been considered his main endeavor. Levenson is also a influential shareholder and board member of TechTarget, a company dedicated to use technology to improve the quality of life globally. On top of his work and investments in these exciting and high-profit fields, he also takes part and invests in numerous charitable foundations.

Levenson and his spouse team up to give back and pay it forward. They are the founders and significant contributors to the Center for Philanthropy and Nonprofit Leadership, helping bring together other like minded investors and match them up with charities that suit them. He has also helped the “I Have a Dream Foundation” which blessed students with an education they’d not be able to afford otherwise.

Since 2004, Bruce Levenson has owned the famous basketball team for which he is known. He is also recognized as a highly involved owner that is slow to sell the team. He has made some moves toward partnerships to avoid a full sell. Being in the public eyes has kept Levenson to be careful where he steps. The popularity of basketball and fantasy basketball has glamorized the act of trading players and selling teams.