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☆ Marc Rowan is the visionary behind Apollo's private-credit boom. Here's what happens if he leaves for the Trump White House.
▼ + stars: | 2024-11-20 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +5 min

AdvertisementApollo CEO Marc Rowan has transformed Apollo since he took over as CEO in 2021. Since Marc Rowan took over Apollo Global Management in 2021, he's transformed the firm — sending the stock skyrocketing. Representatives for Apollo didn't return a request for comment on Rowan's plans or the firm's succession plans. Rowan is Apollo's second CEO since the firm was founded in 1990. In a presentation to investors in October, Rowan unveiled plans to double down on the firm's lending business.

Persons: Marc Rowan, Donald Trump, he's, Chris Kotowski, Oppenheimer, Rowan, Kotowkski, Marc, Kotowski, Scott Kleinman, Jim Zelter, Grant Kvalheim, Apollo didn't, Leon Black, Jeffrey Epstein, Apollo, Black, Epstein, Josh Harris, Harris, Athene, Kleinman, Zelter, Trump, it's Organizations: Apollo Global Management, Trump White House, APO, Washington, Apollo, Citigroup, Athene, Trump Locations: Athene USA

5 uniform to the first-round pick last May, is one of the best in the NFL at his position. Until the lone punt in Week 4, they had 16 consecutive scoring drives (excluding kneel-down situations). Nobody needs to punt if the offense continually marches down the field. Way said he’s constantly thinking on the sideline about when he’s checking in, what the wind velocity is and what specifically to aim for. It was a decent punt that our guys went down and made a great tackle.

Persons: Jayden Daniels, Tress, he’s, ”, “, Daniels, Kliff, it’s, It’s, haven’t, Dan Snyder, Josh Harris, Adam Peters, Dan Quinn, Terry McLaughlin, I’m Organizations: Washington, NFL, NBC News, NFC, Cardinals, New England Patriots, Denver Broncos, San Francisco 49ers, Atlanta Falcons, Dallas Cowboys, Arizona Locations: Washington

☆ Joel Embiid signs 3-year, $192.9 million extension with Sixers, reports say
▼ + stars: | 2024-09-20 | by ( Noah Levick | Nbc Philadelphia | ) www.nbcnews.com time to read: +3 min

Superstar center Joel Embiid has signed a three-year, approximately $192.9 million extension with the team that runs through the 2028-29 season, ESPN’s Ramona Shelburne reported Friday morning. The seven-time All-Star is set to make approximately $51.4 million in the 2024-25 season and $55.2 million in 2025-26, according to Spotrac. The Sixers later officially announced that Embiid signed a “multi-year” extension. While he returned late in the regular season, Embiid had semi-regular injury scares and also dealt with Bell’s palsy during the playoffs. The Sixers will hope George can lessen the burden on Embiid and Maxey to create shots and summon late-game heroics.

Persons: Joel Embiid, Ramona Shelburne, Shams, Embiid, ” Embiid, they’ve, Josh Harris, David Blitzer, Nick Nurse, “, Paul George, Tyrese Maxey, George, Maxey, USA’s Organizations: Sixers, NBA, Spurs, Knicks, Paris Locations: Cameroon, Philadelphia, Bahamas

☆ Joel Embiid and Philadelphia 76ers agree to contract extension worth nearly $193 million
▼ + stars: | 2024-09-20 | by ( Jamie Barton | ) edition.cnn.com time to read: +2 min

CNN —Joel Embiid and the Philadelphia 76ers have agreed to a three-year, $192.9 million maximum contract extension, a source familiar with the contract figures told CNN. Taking his total career earnings to $514.8 million, Embiid would become the fifth member of the NBA’s $500M club, joining LeBron James, Stephen Curry, Kevin Durant and 76ers teammate Paul George. I had no idea when I was drafted as a 20-year-old kid from Cameroon how lucky I was to be in Philadelphia,” Embiid said in a statement. We’re ecstatic that this extension keeps him and his family in Philadelphia for years to come,” 76ers managing partner Josh Harris said in a statement. During his career, Embiid has made the All-NBA Team five times, the All-Star team in each of the last seven years, and was NBA scoring champion in both 2021-22 and 2022-23.

Persons: CNN — Joel Embiid, LeBron James, Stephen Curry, Kevin Durant, Paul George, “, ” Embiid, they’ve, Josh, Harris, David, Blitzer, “ Joel, Josh Harris, Embiid, George, Tyrese Maxey Organizations: CNN, Philadelphia 76ers, NBA, ESPN, The, 76ers, Sixers, USA, ” 76ers, Team, Star Locations: City, Cameroon, Philadelphia

☆ Rising NFL valuations mean massive returns for owners. Here's how good the investment is
▼ + stars: | 2024-09-05 | by ( Michael Ozanian | ) www.cnbc.com time to read: +7 min

watch nowA National Football League team today is a $6.5 billion business. That is the average value of the NFL's 32 franchises, according to CNBC's Official 2024 NFL Team Valuations. Across the past 10 NFL teams to be sold, seven of the 10 outperform the S&P 500 on a percentage-gained basis in the period since the sale. Rising valuationsThe escalation in football team values is largely the result of the league's massive and growing media deals. The typical NFL team has an EBITDA margin of 19%.

Persons: Robert McNair, That's, Peacock, Taylor Swift, Allen J, Tampa Bay's Raymond James, Ryan Flournoy, Matt Hankins, Ron Jenkins, Rob Walton, Josh Harris, Jerry Jones, Jones Organizations: National Football League, Pro, Houston Texans, NFL, Texans, Super, Washington, Denver Broncos —, Miami Dolphins, Comcast, Disney, Paramount, Fox, YouTube, NFL Sunday, Amazon Prime, Thursday, Netflix, CNBC, ESPN, Chicago Bears, Minnesota Vikings, Soldier, Kansas City Chiefs, Los Angeles Times, Getty, Tampa, New England's Gillette, Lincoln Financial, Dolphins, Dallas Cowboys, Los Angeles Chargers, T, Denver Broncos, Tampa Bay Buccaneers, Cowboys, The Cowboys, Dallas Locations: U.S, Chicago, Green Bay ; Wisconsin, Buffalo , New York, New York, Los Angeles, Inglewood , California, Arlington , Texas

☆ NFL team sales are likely to stall as valuations soar
▼ + stars: | 2024-09-05 | by ( Alex Sherman | ) www.cnbc.com time to read: +10 min

Abbie Parr | Getty Images Sport | Getty ImagesThe Seattle Seahawks may be the next National Football League team to sell. The average NFL team is now worth $6.49 billion, and no team is valued at less than $5.25 billion, according to CNBC's Official 2024 NFL Team Valuations. Seven of the last 10 NFL teams to be sold outperform the S&P 500 on a percentage-gained basis since the sale. Each of the last four NFL team sales has set a new record, showcasing the rise in valuations. WATCH: New England Patriots owner Robert Kraft on new NFL private equity ruleswatch now

Persons: Abbie Parr, Paul Allen, Allen's, Jody, Marc Ganis, Roger Goodell, It's, There's, Neal Pilson, That's, Ganis, —, Daniel Snyder, Josh Harris, Terry Pegula, Kim, Ralph Wilson, David Tepper's, Jerry Richardson, Rob Walton, Pat Bowlen, Virginia Halas McCaskey, George Halas, McCaskey, George McCaskey, They're, Goodell, Curtis Martin, Tracy Gallagher, Gallagher, Robert Kraft, Kraft Organizations: Getty, Seattle Seahawks, National Football League, Former Seahawks, Microsoft, NFL, Disney, National Basketball Association, Netflix, CBS Sports, Pilson Communications, NBA, Washington, Philadelphia 76ers, National Hockey League's New Jersey Devils, Billionaire, Buffalo Bills, Carolina Panthers, Panthers, Walmart, Denver Broncos, Bills, Broncos, Chicago Bears, Bears, The Miami Dolphins, Los Angeles Chargers, Ares Management, Sixth Street Partners, Arctos Partners, Equity, Blackstone, Carlyle Group, Capital Partners, Arta Finance, NHL, Major League Baseball, New England Patriots, CNBC Locations: U.S, Spain, Germany, Brazil

☆ The NFL is open to private equity team ownership of up to 10%, Commissioner Roger Goodell says
▼ + stars: | 2024-07-11 | by ( Alex Sherman | ) www.cnbc.com time to read: +4 min

"We've had a tremendous amount of interest [from private equity firms], and we believe this could make sense for us in a limited fashion, probably no more than 10% of a team. The National Football League is considering allowing minority private equity ownership for its 32 teams of up to 10%, Commissioner Roger Goodell said in an exclusive CNBC interview Thursday. "I think it may be leading to some rethink into the consideration of letting private equity, as an example, or institutional investors into the NFL." Private equity incentives around reaching investment targets and exit thresholds could alter the motivations for ownership in ways that make the bigger sports leagues uncomfortable. Private equity firms, tasked with finding investment vehicles to make returns on their assets under management, may be better suited to minority ownership.

Persons: Roger Goodell, Goodell, CNBC's Julia Boorstin, We've, Josh Harris, Harris, Andrew Ross Sorkin, Magic Johnson, Eric Schmidt, David Blitzer, They're, Ted Leonsis, You'll Organizations: National Football League, Allen & Company Sun Valley, National Basketball Association, Major League Baseball, National Hockey League, Major League Soccer, NFL, Allen & Co, Sun Valley Conference, CNBC, Apollo Global Management, Washington, Summit, Washington , D.C, NBA, Blackstone Group, Philadelphia 76ers, New Jersey Devils, Women's Soccer League, Washington Capitals, Wizards, Mystics, ESPN Locations: Sun Valley , Idaho, Washington ,

☆ 26North founder Josh Harris on the state of markets amid the 2024 election cycle
▼ + stars: | 2024-06-13 | by ( ) www.cnbc.com time to read: +1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email26North founder Josh Harris on the state of markets amid the 2024 election cycleJosh Harris paid a record $6.05 billion to add the NFL's Washington Commanders to his firm's sports portfolio, which already included the NBA's Philadelphia 76ers, the NHL's New Jersey Devils and Crystal Palace of the English Premier League. The deal brought hope to one of the NFL's most storied teams and tortured fan bases. They hope Harris' track record in sports and as a successful hedge fund manager will put a winning team on the field and make the price Harris paid look like a real bargain. He joins CNBC's Andrew Ross Sorkin from the 2024 CEO Council Summit in Washington D.C. to discuss the state of markets ahead of the upcoming U.S. elections, his investing philosophy at 26North and much more.

Persons: Josh Harris, Harris, Andrew Ross Sorkin Organizations: NBA's Philadelphia 76ers, New Jersey Devils, English Premier League, Summit Locations: Washington

☆ 26North founder Josh Harris on the power of hiring great people
▼ + stars: | 2024-06-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email26North founder Josh Harris on the power of hiring great peopleJosh Harris paid a record $6.05 billion to add the NFL's Washington Commanders to his firm's sports portfolio, which already included the NBA's Philadelphia 76ers, the NHL's New Jersey Devils and Crystal Palace of the English Premier League. The deal brought hope to one of the NFL's most storied teams and tortured fan bases. They hope Harris' track record in sports and as a successful hedge fund manager will put a winning team on the field and make the price Harris paid look like a real bargain. He joins CNBC's Andrew Ross Sorkin from the 2024 CEO Council Summit in Washington D.C. to discuss his leadership style and much more.

Persons: Josh Harris, Harris, Andrew Ross Sorkin Organizations: NBA's Philadelphia 76ers, New Jersey Devils, English Premier League, Summit Locations: Washington

☆ Private equity investment in NFL teams is coming, Washington Commanders owner Josh Harris says
▼ + stars: | 2024-06-05 | by ( Ian Thomas | ) www.cnbc.com time to read: +6 min

"I think it may be leading to some rethink into the consideration of letting private equity, as an example, or institutional investors into the NFL." While U.S. pro sports leagues had prohibited private equity investors previously, they've largely softened their stances in recent years, aside from letting any firm be a controlling owner of a team. "We've got a lot of interest in the private equity space," NFL Commissioner Roger Goodell said at the league's spring meeting in May. "We are making real progress on potential private equity. Ross Sorkin asked Harris if allowing private equity investors into sports would have any negative impacts on the teams or the league's overarching strategy as those investors look toward an exit.

Persons: Harris, Andrew Ross Sorkin, Magic Johnson, Eric Schmidt, David Blitzer, Jeff Bezos, Dan Snyder, Apollo Global Management —, Josh Harris, David Tepper, Rob Walton, Mat Ishbia, Joe Tsai, Steve Cohen, We've, Roger Goodell, Goodell, Ross Sorkin, Stanley Kroenke, I've, Kroenke Organizations: NFL, CNBC, Summit, Washington , D.C, Blackstone Group, 76ers, Devils, Amazon, NBA's Philadelphia 76ers, New Jersey Devils, Premier, Apollo Global Management, Washington Commanders, Carolina Panthers, Walmart, Denver Broncos, United Wholesale Mortgage, Phoenix Suns, Brooklyn Nets, New York Mets, MLB, Guggenheim Baseball Management, Los Angeles Dodgers, U.S, PE, NBA, Los Angeles Rams Locations: Washington ,

☆ 26North founder Josh Harris on owning an NFL team, private equity and the NFL
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email26North founder Josh Harris on owning an NFL team, private equity and the NFLCNBC's Andrew Ross Sorkin reports on the highlights from his interview with 26North founder Josh Harris at the CNBC CEO Summit in Washington, DC.

Persons: Josh Harris, Andrew Ross Sorkin Organizations: NFL, CNBC, Summit Locations: Washington , DC

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Since then, private-equity firms have poured $54.6 billion into sports, according to PitchBook data. And the field of potential investors is growing with Goldman Sachs helping rich clients invest in teams, which can drive up prices. AdvertisementLeagues also restrict PE investments, with some caps on the number of teams a firm can own stakes in or the ownership share a fund can hold. Scroll down to read about the private equity firms, listed alphabetically, that have been making the biggest moves in sports in recent years.

Persons: —, Josh Harris, Rob Walton, Carlyle, Ben, Blackstone, Goldman Sachs, Harris, Blackstone Group's David Blitzer, Lauren Leichtman, Arthur Levine, Sportico, RedBird, Gerry Cardinale, There's Organizations: Service, MLB, NBA, Business, Washington, Denver Broncos, Amazon, Sports, Ben Fund, Bluestone Equity Partners, GMF, Apollo Global Management, Blackstone Group's, Levine, Capital Partners, San Diego Wave, NFL Locations: downturns

☆ The NFL is gearing up to change team ownership rules in what could be a massive win for Wall Street
▼ + stars: | 2024-02-29 | by ( Tiara White | ) www.businessinsider.com time to read: +9 min

Team owners will meet at the annual league meeting in March to discuss private equity. The investment ownership model is favored in the NBA, MLB and NHL— but not in the NFL. So, what will a rule change mean for institutional investors and their Wall Street brokers, as well as owners and sports fans? Experts also think NFL team owners' "wealth would increase drastically," said Rotthoff— due to the considerable profits they've already made from team valuations in the past decade. Wall Street investment banks could also benefit in their role as advisors to wealthy investors and sports teams, including helping to connect buyers with sellers.

Persons: —, Josh Harris, Mark Patricof, Carrie Potter, Mellody Hobson, Condoleezza Rice, Sir Lewis Hamilton, Kurt Rotthoff, Dwayne Wade, Venus Williams, Eric Thomas, Gil Fried, Rotthoff, Rob Gronkowski, Spencer Platt, Goldman Sachs, Thomson, Taylor Swift, Jamie Squire, Potter, Fried Organizations: NBA, MLB, NHL, NFL, Service, Silicon, Forbes, The, Patricof, Rice, Denver Broncos, Seton Hall, Wall, Kansas City Chiefs, West, Sport Finance, Sports, Group, Wall Street, Chiefs, Dolphins, Getty Locations: The Washington, Crestview, United States, Orlando , Florida, West Florida

☆ Jeff Bezos' move to Miami shows just how hard it is to tax the rich
▼ + stars: | 2024-02-13 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

AdvertisementEarlier this month, Bezos announced plans to unload 50 million Amazon shares , worth about $8.5 billion, over the next year. Last week, he sold 12 million shares worth more than $2 billion, per SEC filings. But he stopped in 2022 — the same year Washington state imposed a 7% capital gains tax on gains of over $250,000 for those domiciled there. Florida, in contrast, has a capital gains tax rate of zero. In fact, it is one of the eight states that does not have a capital gains tax.

Persons: Jeff Bezos, he's, —, Rich, Lauren Sanchez, Blue, Sanchez, Miami, Bezos, It's, Ken Griffin, Carl Icahn, Daniel Och, Josh Harris, Griffin —, it’s, it's, Bill Gates, Steve Ballmer, MacKenzie Scott Organizations: Miami, Service, SEC, CNBC, Sunshine State, Evergreen State Locations: Washington, Florida, Miami, Canaveral, Texas

☆ From million-dollar private boxes to carpooling on private jets, here's how billionaires are doing the Super Bowl
▼ + stars: | 2024-02-09 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

The Super Bowl has always been a draw for billionaires and powerful executives. Elon Musk and Rupert Murdoch at the Super Bowl on Sunday. For an extra $10,000 to $250,000, Carrega arranges in-suite meet-and-greets, pre-game huddles, and photo ops with former Super Bowl champions or commentators. Kevin Mazur/Getty ImagesWhen it comes to accommodations, Vegas is proving easier than many other Super Bowl destinations, Brown said. Charter service VistaJet , whose private flights cost between $14,000 and $25,000 an hour, recorded a 25% increase in flight bookings over last year’s Super Bowl.

Persons: —, Taylor Swift, Hunt, Denise York, Elon Musk, Rupert Murdoch, ’ Michael Rubin's, Josh Harris, Robert Kraft, Goldman Sachs, David Solomon, Caitlin O’Hara, ” Elisabeth Brown, Barnabas Carrega, they're, Brown, “ Price, ” Carrega, Carrega, ” Brown, ” She’s, Savage, Kevin Mazur, Wynn, Leona Qi, you’re, ” Qi, “, ” Organizations: Service, Business, Chiefs, 49ers, Forbes, Patriots, Reuters, “, Knightsbridge, Super, Vegas, Davos Locations: Las Vegas, Sin City, Las, Tampa , Florida, Vegas, “

☆ Carlyle billionaire David Rubenstein is buying MLB's Baltimore Orioles: reports
▼ + stars: | 2024-01-31 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Carlyle Group cofounder David Rubenstein is fronting a group buying the Baltimore Orioles, reports say. Fellow private equity billionaire Michael Arougheti is also expected to be involved in the deal. AdvertisementFamed private equity investor David Rubenstein is reportedly planning to buy the Baltimore Orioles. Puck broke the news Tuesday that the Carlyle Group cofounder and Baltimore native is fronting a group expected to take a 40% stake in the Major League Baseball franchise. AdvertisementThe Orioles are owned by the Angelos family, who bought the MLB franchise in 1993.

Persons: David Rubenstein, Angelos, Puck, Michael Arougheti, —, Cal Ripken, Jr, Rubenstein, he'll, Peter Angelos, John, Carlyle, Josh Harris Organizations: Carlyle, Baltimore Orioles, Major League Baseball, Service, Carlyle Group, Baltimore, Ares Management, Orioles, MLB, Financial, National Basketball Association, Apollo Global, National Football League's

The Washington Commanders fired defensive coordinator Jack Del Rio and defensive backs coach Brent Vieselmeyer on Friday. “Today I relieved Jack Del Rio and Brent Vieselmeyer of their duties," coach Ron Rivera said in a statement. Del Rio was 12 games into his fourth season with Washington after Rivera hired him in 2020. “People’s livelihoods are being destroyed, businesses are being burned down, no problem,” Del Rio said in June 2022. But the lack of results ultimately cost Del Rio and Vieselmeyer their jobs.

Persons: Jack Del Rio, Brent Vieselmeyer, Ron Rivera, “, Rivera, Eric Bieniemy, Rivera's, Josh Harris, Del, George Floyd, rushers Chase, Montez, ___ Organizations: Washington, Dallas Cowboys, Jaguars, Raiders, U.S, Capitol, NFL, rushers Chase Young, Del Rio Locations: Washington, Del Rio

☆ NFL trade roundup: Commanders sell; Vikings add QB Josh Dobbs
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +10 min

ET deadline:--The Minnesota Vikings acquired quarterback Josh Dobbs and a 2024 seventh-round pick from the Arizona Cardinals for a 2024 sixth-round draft choice. --The Vikings also dealt left guard Ezra Cleveland to the AFC South-leading Jacksonville Jaguars in exchange for a sixth-round draft pick, per multiple reports. Cleveland was a second-round draft pick by the Vikings in 2020, and he started all 17 games in both 2021 and 2022. Cleveland was a second-round draft pick by the Vikings in 2020, and he started all 17 games in both 2021 and 2022. --The Buffalo Bills acquired veteran cornerback Rasul Douglas and a fifth-round draft pick from the Green Bay Packers in exchange for a third-rounder on Tuesday, NFL Network and The Athletic reported.

Persons: Joshua Dobbs, Matt Kartozian, Montez Sweat, Chase Young, Josh Harris, Young, Nick Bosa, Bosa, Washington, Jonathan Allen, Daron Payne, Josh Dobbs, Kirk Cousins, Dobbs, Kyler Murray, Ezra Cleveland, Dalton Risner, Donovan Peoples, Jones, Dan Campbell, Rasul Douglas, Douglas, Tre'Davious White, Jordan Love's, Aaron Rodgers Organizations: Arizona Cardinals, Baltimore Ravens, Washington Commanders, NFL, Chicago Bears, San Francisco 49ers, Young, NBA's Philadelphia 76ers, Washington, 49ers, Ohio State, Minnesota Vikings, Vikings, The Cleveland Browns, Cardinals, Arizona, Pittsburgh Steelers, Tennessee Titans, AFC, Jacksonville Jaguars, Denver Broncos, Detroit Lions, Browns, Peoples, Michigan, Lions, Cleveland, Buffalo Bills, Green Bay Packers, NFL Network, The Athletic, Packers, AFC East, Thomson Locations: Glendale , Arizona, USA, Young's, Ohio, Arizona, Minnesota, Cleveland, Detroit, Green, Buffalo

Mr. Goodell will be 68 when his current contract runs out. Mr. Goodell is the most powerful executive in American sports, and the N.F.L. Mr. Goodell will be older when his new deals ends than two predecessors were when they retired. “We’ll see what the future holds,” Mr. Goodell said about his plans after this current extension. “It’s a healthy discussion to have,” Mr. Goodell said in July.

Persons: Roger Goodell, Goodell, Art Rooney II, Goodell’s, “, ”, Daniel Snyder, Josh Harris, Jerry Jones, Jones, Brian Rolapp, Kevin Warren, Pete Rozelle, Paul Tagliabue, ” Mr, I’m, Jim Irsay, Mr, It’s, I’ve Organizations: Pittsburgh Steelers, Denver Broncos, Carolina Panthers, Washington, Dallas Cowboys, Chicago Bears ’, Minnesota Vikings, Indianapolis Colts Locations: New York, Egan, Minn, Minneapolis

☆ The rich are competing with private equity to buy sports teams. Here is how they are getting creative in a crowded field.
▼ + stars: | 2023-09-06 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

Valuations show no signs of cooling off with billionaires and private equity firms in bidding wars. Bankers to the rich told Insider which sports are drawing moneyed clients. Now rich individuals have to compete with institutional investors like private equity firms and sovereign wealth funds for a limited number of teams. As a result, aspiring team owners have gotten more creative to seal the deal. "It's never going to be a private equity type of model where these assets will be exited every five years," he told Insider.

Persons: Ryan Reynolds, Rob McElhenney, LeBron James, Milwaukee Bucks Marc Lasry, Brian Kantarian, Josh Harris, Kantarian, Ivo Voynov, It's, Gerry Cardinale, Voynov Organizations: Bankers, Sports, NBA, Wrexham AFC, Milwaukee Bucks, NFL, Citi Private Bank, Europe's Big Five, XFL, JPMorgan Locations: Washington, Europe, Plenty, Wall

☆ NFL approves sale of Washington Commanders and evies $60 million fine on ex-owner
▼ + stars: | 2023-07-20 | by ( David Close | ) edition.cnn.com time to read: +3 min

CNN —The Washington Commanders will have a new ownership group as the team’s previous owner faces a $60 million fine from the league following an independent investigation finding workplace misconduct and financial improprieties. The Commanders’ new ownership group includes Basketball Hall of Famer Magic Johnson and billionaire Mitch Rales, Harris’ longtime sports business partner. NFL commissioner Roger Goodell congratulated Harris and his partners after the unanimous vote. Johnston told a congressional committee that the Commanders owner had put his hand on her leg under the table at a work dinner and tried to persuade her to get into his limousine. “The conduct substantiated in Ms. White’s findings has no place in the NFL,” a statement from NFL commissioner Roger Goodell stated.

Persons: Josh Harris, Harris, Basketball Hall of Famer Magic Johnson, Mitch Rales, Harris ’, Roger Goodell, “ Josh, Josh, ” Goodell, Daniel Snyder, Snyder, Tanya, Dan Snyder, Mary Jo White, White, Tiffani Johnston, Johnston, ”, “, Ms, ” Snyder, —, “ Mr, Goodell Organizations: CNN, Washington, NFL, Apollo Global Management, Philadelphia 76ers, New Jersey Devils, Basketball Hall of Famer, Street Journal, former Securities and Exchange Commission, SEC, ” Locations: Washington, Minnesota

☆ NFL owners approve sale of Commanders, former owner fined $60 mln
▼ + stars: | 2023-07-20 | by ( Frank Pingue | ) www.reuters.com time to read: +4 min

July 20 (Reuters) - National Football League owners have unanimously approved the sale of the Washington Commanders franchise to a group led by the co-owner of the NBA's Philadelphia 76ers and the NHL's New Jersey Devils, the league said on Thursday. Financial terms of the deal to purchase the Commanders from Dan Snyder, who was fined $60 million by the NFL for workplace misconduct after the approval was announced, were not disclosed. Former NBA great Johnson wrote on Twitter that he is both "honored and ecstatic" to be a co-owner of an NFL team. The investigation also concluded that the Commanders withheld about $11 million in revenue, and possibly more, that should have been shared with other NFL teams. In 2021 the NFL fined the Commanders $10 million after an independent counsel review found the workplace demonstrated "a general lack of respect" towards women.

Persons: Dan Snyder, Josh Harris, Mitchell Rales, Magic Johnson, Harris, Johnson, Snyder, Frank Pingue, Deepa Babington Organizations: National Football League, Washington Commanders, Philadelphia 76ers, New Jersey Devils, NFL, Harris Blitzer Sports & Entertainment, Fame, Los Angeles Lakers, 76ers, Devils, Premier League soccer, Crystal, Apollo Global Management, Washington, NBA, Twitter, Congress, Forbes, U.S . House, Thomson Locations: Maryland, U.S, Toronto

Daniel Snyder was fined $60 million, by far the largest penalty ever levied against an N.F.L. team owner, after he was found to have sexually harassed a woman who was both a former cheerleader and a marketing employee for the Washington Commanders. According to the report, her account was supported by evidence and contemporaneous witnesses. The findings were reported by Mary Jo White, a former federal prosecutor and chairwoman of the Securities and Exchange Commission, who spent 17 months looking into allegations of widespread sexual harassment against executives at the team, including Snyder, as well as claims of financial improprieties. released White’s report immediately after the 31 other clubs unanimously approved the sale of the Commanders to an investment group led by Josh Harris for $6.05 billion, a record for an American pro sports team.

Persons: Daniel Snyder, Tiffani Johnston, Snyder, Mary Jo White, Josh Harris Organizations: Washington, Securities and Exchange Commission

☆ Billionaires and corporate execs have dumped $9 billion worth of stock this year amid the market's latest rally
▼ + stars: | 2023-07-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Billionaires and CEOs have dumped $9 billion in stock this year. Many of those sales have been concentrated in the tech sector amid Wall Street's frenzy over AI. Executives have cashed in on the rally as the S&P 500 recovers from a dismal 2022 performance. Meanwhile, AirBnB co-founder Joe Gebbia sold off $893 million of his company's stock during the first half. Oracle CEO Safra Catz also trimmed her holdings of the company, selling $470 million worth of the company's stock.

Persons: Walton, AirBnB, Joe Gebbia, Larry Ellison, Safra Catz, Salesforce's Marc Benioff, Stephane Bancel, Josh Harris Organizations: Service, CNBC, Walmart, Sam's, Oracle, Moderna, Apollo, Vanda Research Locations: Wall, Silicon

☆ MLB roundup: Yanks' Domingo German fires perfecto vs. A's
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +11 min

Drew Waters had two hits and a walk for the Royals, who have lost 20 of their past 25 games. Minnesota starter Kenta Maeda (1-5) pitched five innings and allowed two runs on five hits, with two walks and four strikeouts. Angels starter Jaime Barria (2-3) allowed five runs on seven hits, including three home runs, in three innings. Blue Jays 6, Giants 1Toronto erupted for five runs in the first inning and went on to defeat visiting San Francisco. Aaron Nola (7-5) yielded four runs on seven hits over five innings but benefited from the Phillies' five-run second inning.

Persons: Domingo German, Stan Szeto, Domingo, Esteury Ruiz, Josh Donaldson, Feliz Hernandez, Don Larsen, David Wells, David Cone, Giancarlo Stanton, Harrison Bader, Volpe, Donaldson, Falefa, JP, Jose Ramirez, Josh Bell, Cleveland, Bo Naylor, Ramirez, Drew Waters, Matt Olson, Olson, Kolby Allard, Kirby Yates, Kenta Maeda, Royce Lewis, Ezequiel Tovar, Randal Grichuk, Cron, Jake Bird, Justin Lawrence, Victor Gonzalez, Yonny Hernandez, Mookie Betts, Freddie Freeman, Lawrence, David Peralta, J.D, Martinez, Seby Zavala, Eloy Jimenez, Luis Robert Jr, Robert, Zavala, Andrew Vaughn, Zach Remillard, Shohei Ohtani, Brandon Drury, Lucas Giolito, Jaime Barria, Patrick Corbin, Corbin, Keibert Ruiz, Jose Caballero, Logan Gilbert, George Springer, Trevor Richards, Bowden Francis, Richards, Austin Slater, LaMonte Wade Jr, Will Benson, TJ Friedl's, Adam Frazier's, Alexis Diaz, Fernando Cruz, Keegan Akin, Nick Castellanos, Edmundo Sosa, Josh Harrison, Aaron Nola, Drew Smyly, Jared Young, Dansby Swanson, Carlos Santana, Connor Joe, Henry Davis, Josh Palacios, Mitch Keller, Xander Bogaerts, Blake Snell, Blake Perkins, Christian Yelich, Bryse Wilson, Tommy Pham, Grant Hartwig, Perkins, Dane Dunning, Adolis Garcia, Dunning, Andy Ibanez, Kerry Carpenter, Marcus Semien, Corey Seager, Josh Jung, Ezequiel Duran, Leody Taveras, Joey Wentz, Jose Altuve, Jose Abreu, Houston, Louis, Altuve, Abreu, Nolan Arenado, Paul Goldschmidt, Jazz Chisholm, Garrett Cooper, Joey Wendle, Cooper, Braxton Garrett, Rafael Devers, Rob Refsnyder, Jarren Duran, Devers, Nick Pivetta, Josh Lowe's, Lowe, Scott McGough, Yandy Diaz, Wander Franco, Luke Raley, McGough, Randy Arozarena, Isaac Paredes, Ketel Marte Organizations: New York Yankees, Oakland Athletics, Oakland, Alameda County Coliseum, Oakland Coliseum, Yankees, Tampa Bay Rays, Brooklyn Dodgers, Minnesota Twins, Montreal Expos, JP Sears, Royals, Kansas City, Guardians, American League Central, Braves, Minnesota, Atlanta, Rockies, Dodgers, Colorado, Los Angeles, White Sox, Angels, Chicago, Brandon Drury . White Sox, Nationals, Mariners, Washington, Seattle, Blue Jays, Giants, San, Reds, Orioles, TJ, Cincinnati, Phillies, Cubs, Philadelphia, Padres, Pittsburgh, Pirates, Diego, Brewers, Mets, Milwaukee, New, Rangers, Tigers, Texas, The Rangers, Astros, Cardinals, Marlins, Red Sox, Boston, Rays, Diamondbacks, Tampa, Phoenix . The Rays, Thomson Locations: Oakland , California, USA, Domingo German, New York, Kansas, Cleveland, Minnesota, C.J, Los, Denver, Los Angeles, Anaheim , Calif, Toronto, San Francisco, Baltimore, Philadelphia, San Diego, Detroit, Arlington , Texas, Miami, Tampa Bay, Arizona, Phoenix .

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