The Bruce Levenson Legacy

Bruce Levenson is an American business person born to Jewish parents in the year 1949, in Washington, D.C. He grew up in Maryland and later joined Washington University in St. Louis where he graduated from the law school. It is while pursuing his law degree at the University that he discovered his passion for journalism and began chasing his dream at the Washington Star.

Bruce later on co-founded a company called United Communication Group together with a friend called Ed Peskowitz in 1977, which was based in Maryland. It dealt in publishing newsletters and focused on developments in the oil industry.

Later on, Bruce on prnewswire discovered his love for sports with a particular bias for basketball. It is at this point that he decided to venture into the world of sports though focusing mainly on the business bit of sports. Thus, in the year 2004, he together with other like-minded investors like Michael Gearon decided to purchase NBA teams; Atlanta Hawks and NHL Thrashers at an estimated price of $250 million. It is important to note that he was the majority stakeholder. They also bought operating rights of Philips Arena as part of the deal.

However, In 2011 Levenson realized a business opportunity and convinced the other stakeholders to sell NHL Thrashers. Seeing the profits in the offering, they unanimously agreed to sell the team at a value of $170 million, but chose to retain the other team since it was doing exceptionally well. NHL Thrashers later on relocated to Winnipeg. Spurred by the profits from the sale of NHL Thrashers, Bruce was at it again and this time round, in 2014, he again managed to convince the other stakeholders to sell Atlanta Hawks. Backed by Michael Gearon, who also owned a considerable portion of the stake in the team, they agreed to sell the team. The Atlanta Hawks was eventually auctioned in April 2015. The highest bidder offered $730 million even though Bruce was eyeing about $1 billion, but nonetheless, it was not bad business.

Other than business and sports, Bruce has also been an active participant in philanthropic activities. For instance, he is a member of the Community Foundation of Washington D.C and also a member of the Hoop Dreams Foundation. Bruce at one point served as the President of the Washington Chapter. The organization focuses on helping children acquire higher education. Levenson is also a founding member of the Holocaust Museum and still funds the museum to-date. Besides, he has also been in the spotlight as a champion for good leadership and governance, where he was among the people who pressured the Israeli prime minister to foster a cordial relationship with other nations.

In a nutshell, the unique blending of passion for sports, business, decision making and good management skills have greatly attributed to the success of Mr. Levenson as agreed by everyone who has interacted with him.

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