The Atlanta Hawks Basketball and Entertainment LLC, or AHBE for short, has decided to pursue a lawsuit against the New Hampshire Insurance Company, who they are at odds with because of a contract breach made by their former general manager Danny Ferry. The AHBE reports that they were the victims of “Wrongful Termination” and “Workplace Torts”, as well as other things and that is what they were supposed to be covered for. They had a buyout agreement in 2012 which the insurance company refused to pay, which ultimately led to the creation of the lawsuit. According to the article “Former Hawks ownership sues insurance company over Ferry Settlement”, it states that “The lawsuit is also seeking an additional 50 percent penalty of the unpaid loss and attorney’s fees and costs.”
A man by the name of Bruce Levenson used to retain ownership of the Atlanta Hawks. He came to an agreement with several investors to buy the rights to the team for 850 million dollars. This price reflects on just how well the sorts economy is doing right now. Originally. Levenson bought the team for 250 million in 2004. The team went on to win 60 games, which was a new record and became one of the best teams in the eastern United States. Check out brucelevenson.com and wikipedia.org for more info on Mr. Levenson.