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Miami Dolphins are in advanced talks to sell minority stake in team to Ares Management, billionaire Joe TsaiThe Miami Dolphins are in advanced talks to sell a minority stake in the team to private equity firm Ares Management and billionaire Joe Tsai, CNBC has learned, highlighting the growing trend of owners looking to build their sports portfolios to include multiple teams and operate their own stadiums to maximize revenue. CNBC has valued the Miami Dolphins as the league's eighth most valuable team at $7.1 billion, which does not include the stadium. The Miami Dolphins and the NFL declined to comment, and Tsai's BSE Global did not immediately respond to a request for comment. Businessman Stephen Ross purchased the Miami Dolphins in 2009 for $1.1 billion. This allows him to bring in revenue from events held at the stadium such as the Miami Grand Prix and Miami Open tennis tournament.

Persons: Joe Tsai, Ares, Tsai, Stephen Ross, Ross Organizations: Miami Dolphins, Ares Management, CNBC, Hard, Miami Grand Prix, Miami, NFL, Brooklyn Nets, Bloomberg, BSE Global, Miami Open, Dolphins, Formula, Prix

☆ What office meltdown? Developers see a shortage of high-end space and are rushing to build it.
▼ + stars: | 2024-10-03 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +12 min

Much of the office market may be mired in a downturn, but demand has been strong for high-end space. New office construction has dropped off sharply, leading to a potential upcoming shortage. That demand has persisted even as office construction has been stifled by higher interest rates and inflation, which have pushed up costs. Worries over the health of the office market have also made lenders reluctant to finance new development. 8 million square feet of that is pre-leased, meaning that there is only about 10 million square feet of upcoming available top quality space.

Persons: —, Hilary Goldfarb, Goldfarb, Crowell, there's, Scott Rechler, Rechler, Vanderbilt, Philippe Visser, CBRE, Visser, Larry Silverstein, Norman Foster, Silverstein, Randolph St, Ross, Stephen Ross, Jordan Rathlev, Rathlev, Jessica Morin, Morin, Banks, RXR, I'm, you'd Organizations: Service, Rockefeller Development, Fifth St, RXR, Skidmore, Owings, Merrill, TF Cornerstone, Grand Central, Citadel, Yards, Companies, Oxford Properties, Hudson, Hudson Yards, KKR, Meta, World Trade Center, American Express, Trade, Related's, Central Locations: Washington ,, Washington, DC, New York, San Francisco, midtown Manhattan, Manhattan, Wells Fargo, BlackRock, Lower Manhattan, Chicago, Fulton, West Palm Beach , Florida, CBRE

MEMPHIS, Tenn. (AP) — A judge on Thursday pushed back for four months the federal court trial of four former Memphis police officers charged with civil rights violations in the beating death of Tyre Nichols. Officers caught up with Nichols and punched him, kicked him and hit him with a police baton, video showed. An autopsy report showed Nichols died from blows to the head, and that the manner of death was homicide. Along with Martin, Tadarrius Bean, Demetrius Haley, Desmond Mills Jr. and Justin Smith were fired after Nichols’ death. Norris ruled last week against Haley's motion to exclude expert testimony at the federal trial.

Persons: —, Tyre Nichols, Mark Norris, Norris, Stephen Ross Johnson, Emmitt Martin, ” Johnson, “, yanked Nichols, Nichols, Martin, Tadarrius Bean, Demetrius Haley, Desmond Mills Jr, Justin Smith, Mills, Black, Michael Stengel, Stengel, ” Organizations: Memphis, District, Memphis ’, Memphis Police, U.S . Department Locations: MEMPHIS, Tenn, Memphis, United States

☆ Read the Notion memo Dharma, a travel startup that crafts travel experiences for creators and brands, used to raise $4.7 million
▼ + stars: | 2023-10-17 | by ( Marta Biino | ) www.businessinsider.com time to read: +2 min

Dharma, a travel startup that plans and sells trips hosted by creators and brands, recently announced $4.7 million in pre-Series A funding. Dharma cofounder and CEO Charaf El Mansouri told Insider the company aims to support creators and brands in organizing exclusive travel experiences by dealing with operations and liaising with local travel operators as needed. "By definition, I'm a yoga teacher, not a professional travel manager. The company's big challenge ahead, which the funds from the raise will be used for, is to achieve scale. Here is the 17-page Notion memo that the cofounders used to raise $4.7 million.

Persons: Stephen Ross, Matt Higgins, Eric Cantona, Charaf El Mansouri, Dharma, Emily, Kelsey Wells, Pernod, El Mansouri Organizations: San, Convivialite Ventures, FJ Labs, Tank, Paramount Global, Netflix, Pernod Ricard Locations: San Francisco, Paris, El

☆ Want to move from side hustle to startup? Ditch your backup plan, says investor and guest 'Shark Tank' shark Matt Higgins
▼ + stars: | 2023-09-26 | by ( Julia Hood | ) www.businessinsider.com time to read: +5 min

Higgins' new book, "Burn the Boats," urges people to forego the backup plan to fulfill their goals. AdvertisementAdvertisementSide hustlers and would-be entrepreneurs will often have a backup plan to their dreams, just in case things don't work out. But that safety net might be preventing them from achieving their full potential, according to a book by Matt Higgins, an investor and guest shark on "Shark Tank." Higgins' book, titled "Burn the Boats," urges entrepreneurs to find the right moment, and then go all-in on their goals. Mainly though, you have to learn to let go when things don't go your way.

Persons: Matt Higgins, Higgins, —, Rudolph Giuliani's, Stephen Ross, you'll, Ray Dalio, Bill Gates Organizations: RSE Ventures, Service, Magnolia Bakery, New York City, Lower Manhattan Development Corporation, New York Jets, Miami Dolphins, RSE Locations: Queens , New York, New York

☆ Jets owner Woody Johnson is privately lobbying GOP megadonors to donate to Trump's campaign
▼ + stars: | 2023-09-15 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

US President Donald Trump (R) gestures as he talks with US Ambassador to the United Kingdom Woody Johnson (L) preparing to board Marine One to depart the US ambassador's residence Winfield House in London on July 13, 2018. Billionaire and New York Jets owner Woody Johnson is part of a very small group within former President Donald Trump's inner circle: Wealthy supporters who are willing to invest their own personal capital to convince Republican megadonors to donate to Trump's presidential campaign. "The sales pitch from team Johnson has been 'it's going to be Trump based on the polling. Are you just not going to get on the train as Trump heads to be the nominee?'" But not Johnson.

Persons: Donald Trump, United Kingdom Woody Johnson, Woody Johnson, Donald Trump's, Republican megadonors, Johnson, Trump, Johnson's, Steve Schwarzman, Andy Sabin, Stephen Ross, Trump's Organizations: US, Winfield, New York Jets, Republican, Trump, CNBC, Jets, Blackstone, White House Locations: United Kingdom, London

☆ His Mind Helped Rebuild New York. His Body Is Failing Him.
▼ + stars: | 2023-09-06 | by ( Christopher Maag | More About Christopher Maag | ) www.nytimes.com time to read: +2 min

A journalist who hears the Olympics pitch describes Mr. Doctoroff as a man whose eyes “gaze past you, out towards the horizon.”Why this constant drive? His brother Andy says Mr. Doctoroff should be more introspective, and who knows. Mr. Doctoroff is aware that he graduated Harvard aimless and lazy. Wound up in New York by following his wife, Alisa, who got a job in town. It is hard work seeing the future, and so Mr. Doctoroff puts everything into the job.

Persons: Doctoroff, Andy, Harvard aimless, Alisa, “, ”, Stephen Ross, Doctoroff’s, ’ ” Sharon Greenberger Organizations: Harvard, Companies, Ivy League Locations: New York, Bluffed, Bronx, Staten Island

☆ Enter the 50-Ton Concert Hall That Hangs Like a Disco Ball
▼ + stars: | 2023-06-23 | by ( Javier C. Hernández | ) www.nytimes.com time to read: 1 min

The lights inside the cavernous McCourt space at the Shed had been dimmed, and a mystical soundtrack was playing. “Your journey begins in five minutes,” a recorded voice announced to the roughly 200 people gathered there on a recent evening. A curtain opened, revealing a 50-ton spherical, suspended concert hall that glowed red and orange. There were whispers among audience members that the hall, called the Sonic Sphere, resembled a spaceship, Epcot, a disco ball or the Death Star. “I want to lose myself in the sound,” Stephen Ross, an architect, said as he made his way up a flight of stairs to the main entrance.

Persons: McCourt, ”, Steve Reich’s, ” Stephen Ross

☆ Opinion | Golf’s Antitrust Problem Just Got Bigger
▼ + stars: | 2023-06-07 | by ( Peter Coy | ) www.nytimes.com time to read: +1 min

Sports leagues love competition, except against one another. The leagues make more money when they don’t have to compete for talent and audience. The PGA Tour will appoint a majority of the board and hold a majority voting interest in the combined entity. But the Saudi sovereign wealth fund, the Public Investment Fund, will start out as the exclusive investor in the entity, and Yasir al-Rumayyan, the wealth fund’s governor, will be the entity’s chairman. In this case the PGA Tour looks more swallowed than swallowing, but Ross told me, “From the branding point of view the PGA Tour was a monopoly and it will still be the dominant organizer with its new huge partner.”

Persons: LIV, Yasir al, it’s, That’s, ” Stephen Ross, Ross, ” Organizations: Saudi, LIV Golf, The Times, Public Investment Fund, Penn State Law Locations: Saudi Arabia, Europe, Saudi

☆ Inside a shake-up at the world's 'most feared law firm'
▼ + stars: | 2023-03-30 | by ( Casey Sullivan | ) www.businessinsider.com time to read: +30 min

It's been a tumultuous period for Quinn and the storied law firm he built over the past 37 years — now the world's largest litigation firm with hourly rates that can be north of $2,000. But behind the scenes, a shift at QE has been the talk of elite law firm circles. Indeed, the firm – known as a singular, even freewheeling, institution that brands itself as the "#1 Most Feared Law Firm in the World" — may appear to be less in the image of its founder as a generational shift brings changes. "We all thought it was important that the world understands this is not a one generation law firm." One former firm partner in California says he believes Quinn's inner circle generally got better deals.

☆ Nancy Pelosi had Catholic priests perform an exorcism at her home after her husband was attacked, her daughter said
▼ + stars: | 2023-01-28 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

Nancy Pelosi had priests perform an exorcism of her home after her husband was attacked in October. I think that really broke her," their daughter Alexandra Pelosi told the paper. "Over Thanksgiving, she had priests coming, trying to have an exorcism of the house and having prayer services," said Alexandra Pelosi. Nancy Pelosi has spoken openly about her Catholic faith. "The fact that they were after me, and then they hit him," Nancy Pelosi told The New York Times.

☆ In Miami, Stephen Ross and Former Partner Jorge Perez Are Now Potential Rivals
▼ + stars: | 2022-12-20 | by ( Deborah Acosta | ) www.wsj.com time to read: 1 min

Developers Stephen Ross, in a gray suit, and Jorge Perez have known each other since the 1970s. New York City developer Stephen Ross and Miami developer Jorge Perez had a partnership for more than 40 years. Their separate companies shared almost the same name. Now that alliance—along with an arrangement to essentially stay out of each other’s home markets—has dissolved. Mr. Ross’s Related Companies and Mr. Perez’s Related Group are free to compete head on.

☆ Only a handful of psychedelics companies have gotten funding from established biotech investors. Here's what they've done right, according to a top VC.
▼ + stars: | 2022-11-22 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +4 min

RA Capital is one of the few mainstream biotech VCs wading into the psychedelics space. The number of companies touting the benefits of psychedelics for healthcare is rapidly growing, but not all biotech investors are on board yet. Last year RA Capital made two investments into the psychedelics spaceIn 2021, RA made its first investments into the psychedelics space by funding two startups: GH Research and Delix Therapeutics. Dublin, Ireland-based GH Research is one of the only psychedelics companies to have garnered a flurry of interest from mainstream healthcare investors including RA Capital, RTW Investments, and BVF Partners. Lusaris' treatment is designed to be taken sublingually — placed under the tongue — for treatment-resistant depression.

☆ As Trump readies possible 2024 White House run, GOP megadonors back DeSantis, Youngkin, other Republicans
▼ + stars: | 2022-11-15 | by ( Brian Schwartz | ) www.cnbc.com time to read: +7 min

Sabin contributed $55,000 this year to a pro-DeSantis PAC, Friends of Ron DeSantis, which supported the Florida governor's successful bid for reelection, according to state campaign finance records. Trump, meanwhile, has scheduled a primetime announcement Tuesday night, heavily hinting that it will be his presidential campaign launch. Trump also endorsed dozens of winning House candidates, but many of those Republicans were in firmly red districts without a serious competitor. Ross hosted a fundraiser for Trump at his Hamptons home in 2019 to raise money for Trump's campaign and the Republican National Committee. While Levine didn't personally donate to Trump's races, he helped raise campaign cash for several other candidates Trump endorsed in the last cycle.

☆ Major Miami Beach Real-Estate Projects Nixed by Voters
▼ + stars: | 2022-11-14 | by ( Deborah Acosta | ) www.wsj.com time to read: 1 min

Miami Beach voters in a series of referendums last week derailed three major real-estate projects from top U.S. developers, reflecting a budding backlash against certain new development plans for the city. Property developer Stephen Ross , Related Cos. chairman and owner of the Miami Dolphins, had been planning to replace the historic Deauville Beach Resort on Collins Avenue with a new hotel and development. Starwood Capital Management , led by Chief Executive Barry Sternlicht , and Miami developer Don Peebles Jr. have also been preparing to build new office towers near the ocean.

☆ Miami Beach hotel that hosted JFK, Beatles imploded
▼ + stars: | 2022-11-14 | by ( The Associated Press | ) www.nbcnews.com time to read: +1 min

MIAMI BEACH, Fla. — A once-luxurious Miami Beach hotel that hosted the Beatles and President John F. Kennedy during its 1960s heyday was imploded Sunday after falling into disrepair and abandonment in recent years. The Beatles performed there in 1964, recording six songs for “The Ed Sullivan Show,” drawing an estimated television audience of 70 million people. The Beatles at the Deauville Hotel where they performed for the Ed Sullivan Show in 1964. Miami Beach officials and the family that owned the hotel sparred over millions of dollars in fines for various code violations. City officials say Ross may still be interested in purchasing the lot if an alternate plan can be worked out.

☆ Goldman Sachs' return-to-office policy has brought back 65% of its workers to the workplace 5 days a week, said the bank's famously anti-remote work CEO
▼ + stars: | 2022-10-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Goldman Sachs CEO David Solomon said 65% of its workers are back in the office five days a week. He told CNBC it's especially important for young workers in their 20s to get into the office. Today, it's about 65%, so we're kind of operating close to the way we were," Solomon told CNBC, according to a transcript from the broadcaster. On Tuesday, he told CNBC it's especially important for young workers in their 20s to get into the office. We mentor our people, we teach our people, we strive for excellence," he told CNBC.

☆ Miami Dolphins Owner Stephen Ross to Sell New York Penthouse for $40 Million
▼ + stars: | 2022-10-04 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. Real-estate developer and Miami Dolphins owner Stephen Ross has found a buyer for his penthouse near New York’s Columbus Circle. Last priced at $49.9 million, the condo has gone into contract for $40 million, according to people familiar with the situation.

☆ New York Developer Related Cos. Bets Big on West Palm Beach
▼ + stars: | 2022-09-19 | by ( Deborah Acosta | ) www.wsj.com time to read: 1 min

During the pandemic, New York’s Related Cos. turned much of its attention to South Florida, and West Palm Beach in particular.BloombergNew York real-estate developer Stephen Ross built an outdoor mall in downtown West Palm Beach with an FAO Schwarz, a Macy’s and a Barnes and Noble that opened in 2000. The project never quite found its footing back then and struggled financially. Two decades later, the Related Cos. founder and chairman is making a much bigger and more upscale bet on this waterfront city, located about 70 miles from downtown Miami.

☆ Johns Hopkins, Yale, and NYU are teaming up to tackle a key bottleneck that will arise as psychedelics come to market
▼ + stars: | 2022-03-10 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

Johns Hopkins University, Yale University, and New York University announced on Thursday they were collaborating to create a psychedelics curriculum for psychiatrists. Benjamin Kelmendi is an assistant professor of psychiatry at Yale University and a codirector of the Yale Program for Psychedelic Science. YaleNYU's Ross told Insider it was "daunting" to think about the sheer number of therapists that needed to be trained to expand access for patients. Researchers are working to fill the gap that exists between psychedelics and the medical systemChristopher Pittenger is a codirector at the Yale Program for Psychedelic Science. YaleDr. Benjamin Kelmendi, a codirector of the Yale Program for Psychedelic Science, told Insider that he saw psychedelics as having broad applications that will attract other branches of medicine.

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