Category Archives: NBA Teams

Atlanta Hawks Previous Owners Challenge Insurance Agency

The Atlanta Hawks Basketball and Entertainment (AHBE) LLC initiated legal action against the New Hampshire Insurance Company. The former owner of the Atlanta Hawks believes that this insurance firm is guilty of breach of contract. The key person involved in the lawsuit is Danny Ferry, who managed the team for a few years. The team’s previous co-owner Bruce Levenson is another big name that appears in this legal action.

According to documentation that has been registered in the Superior Court of Fulton County, the New Hampshire Insurance Company and AIG are accused of breaching a contract with the AHBE. These insurance agencies are also accused of mismanaging coverage such as wrongful termination involving Danny Ferry. The AHBE claims that it has properly reached out to the insurance agencies when conflicts formed with the manager of the Hawks. In the summer of 2015, Ferry and the Hawks agreed to settle on a new deal that voided a previous agreement. In 2012, he signed a contract that was worth a total of 18 million dollars. According to ESPN, when Tony Ressler bought a majority stake in the team, Ferry’s original deal was no longer valid.

Tony Ressler and his staff members do not wish to comment on the ongoing lawsuit that involves the AHBE and the insurance agencies. Surely, it’s in the best interest of the new ownership to stay silent on the conflict that doesn’t directly involve them.

Bruce Levenson is a successful American businessman who has owned the Atlanta Hawks for several years. Besides holding a big stake in this NBA team, he has also played a key role in managing the IT firm TechTarget and UCG. In his personal life, Levenson supports various charitable causes on a national scale. He has generously contributed a lot of money to the U.S. Holocaust Museum in Washington, D.C.