All articles tagged with #financial backing
Everton is seeking new financial backing after a takeover deal with U.S. private equity firm 777 Partners collapsed. Majority owner Farhad Moshiri had agreed to sell his 94.1% stake, but 777 Partners missed the deadline to finalize the purchase. The club will continue to operate as usual while exploring new ownership options.
Donald Trump faces potential financial trouble as he must come up with a $175 million bond by next Monday, or risk having cash in his accounts seized by New York Attorney General Letitia James. The court rejected the bond's paperwork due to verification issues with the insurance company backing it, and Trump's financial consultant warns that his companies may not be financially solvent if their daily expenses are seized. Despite maintaining his innocence, Trump's legal and financial challenges continue to mount.
Alex Rodriguez and Marc Lore are seeking a new financial partner to finalize their majority purchase of the NBA's Minnesota Timberwolves after losing the backing of the Carlyle Group. They have now secured support from Dyal Capital Partners and submitted the necessary financial documents to the NBA for approval. The duo had been buying the Timberwolves and the WNBA’s Minnesota Lynx in installments, with their final payment due on March 27. This next payment will give them 80 percent ownership of the teams.