All articles tagged with #ownership stakes
Commerce Secretary Howard Lutnick revealed that there is a significant discussion among Trump administration officials about making deals with defense firms, similar to the recent Intel deal announced by the president.
The Buffalo Bills and Miami Dolphins have become the first NFL teams to sell minority ownership stakes to private equity firms, following the league's recent policy change allowing such investments. Ares Management and Arctos Partners led the deals for the Dolphins and Bills, respectively, each acquiring a 10% stake. This marks a significant shift in NFL ownership dynamics, as the league was the last major U.S. sports organization to permit institutional investors. The Dolphins' deal also includes stakes in Hard Rock Stadium and the Miami Grand Prix.
Mick Mars, the guitarist of Mötley Crüe, has filed a lawsuit against the band, claiming that they are trying to kick him out of the group and reduce his ownership stakes because of his degenerative disease, ankylosing spondylitis. Mars alleges that he had no intention of retiring from the group and accuses co-founder Nikki Sixx of gaslighting him. The lawsuit seeks to provide Mars with access to the band's corporate documents and reimbursement for his legal expenses. The legal dispute sheds light on the business agreements that can provide rock stars with generous streams of revenue through touring, merchandise sales, and other ventures.
NBA legend Magic Johnson has joined the investment group led by Josh Harris in their bid to purchase the Washington Commanders from owner Daniel Snyder. It is unclear how large of a stake Johnson would own if the group is successful. Harris is the owner of the NBA’s Philadelphia 76ers and the NHL’s New Jersey Devils. The Commanders announced in November that Snyder and his wife, Tanya, had hired Bank of America Securities to consider potential transactions for the franchise.