Recently, the former Atlanta Hawks Management Corporation filed a case against AIG. AIG was the insurance company for them when it was the owner of the Atlanta Hawks basketball team. Bruce Levenson is the leader of the group, so he is spearheading this case. Levenson is a Partner an Co-Founder of the United Communications Group. He was at one time a sports and technology journalist, philanthropist, but he found his true calling in entrepreneurship.
Levenson’s company is claiming that while it still owned the Atlanta Hawks its insurance provider acted in bad faith and breached its contract. To be clear, this case does not involve the current Atlanta Hawks management in any way as the company was sold to them in June of 2015. The current Hawks management is run by Forbes billionaire Tony Ressler and they had no comment on this legal case. Levenson says that AIG’s insurance policy covered “Workplace Torts” and “Wrongful Termination”. This is relevant because Danny Ferry was terminated by Levenson’s management before the team was sold. Ferry was locked into a 6 year long $18 million contract that began in 2012. His termination was necessary for the closing of the sale to the new management. This constitutes wrongful termination which should have triggered coverage under AIG’s insurance policy. AIG was informed of this in April of 2015. AIG declined to cover Danny Ferry’s termination.
The exact amount that Levenson believes AIG should have covered is confidential. AIG has not acknowledged that a policy has been triggered or even that a claim has been made. According to Levenson, AIG is being completely unreasonable about this matter. Levenson seeks damages against AIG for legal fees and costs in addition to all other penalities. When given a chance to comment on this matter publicly, AIG declined. No comment has been made by the company going back to 2015.