In a notable shift within the sports investment landscape, the Miami Dolphins are reportedly in advanced negotiations to sell a minority stake in the franchise to Ares Management, a private equity powerhouse, alongside billionaire Joe Tsai. This development signals a growing trend among sports team owners to broaden their portfolios by not only acquiring multiple
Business
Stellantis, the automotive giant born from the merger of Fiat Chrysler and PSA Groupe, finds itself in a precarious position as it navigates through persistent sales declines in the U.S. market. Despite the efforts of CEO Carlos Tavares to rectify the “arrogant” mistakes attributed to the company’s prior strategies, the third quarter of 2023 witnessed
As investors gear up for Nike’s quarterly earnings call on Tuesday, the consensus is that the company is in for another rough patch. With forecasts predicting earnings per share to be at 52 cents and revenue estimated around $11.65 billion, the outlook suggests a concerning decline of approximately 10% in sales compared to the same
The journey of Dish Network, once heralded as a formidable player in the pay-TV sector, has gradually unraveled into what can only be described as a series of disjointed narratives mirroring the plotlessness of its namesake, “Seinfeld.” The company’s cofounder, Charlie Ergen, drew an analogy between Dish’s strategic path and the quirky television series during
The 2024 season of the Women’s National Basketball Association (WNBA) will be remembered as a pivotal moment in the league’s history. A perfect storm of talent, viewership, and community support transformed the league into a mainstream phenomenon. With remarkable performances from emerging stars such as Caitlin Clark and Angel Reese, the WNBA not only broke
In a significant turn of events, Southwest Airlines has revised its third-quarter revenue expectations upward, dispelling previous concerns about declines. This revision comes amid intense scrutiny and pressure from activist investors, particularly Elliott Investment Management. The airline is now predicting a unit revenue increase of up to 3% compared to the same quarter last year,
The business of sports ownership has evolved into an intricate field marked by significant financial maneuvering and strategic investments. Recently, Paul Viera, the founder and CEO of Earnest Partners, has made headlines by increasing his stake in the San Antonio Spurs from 5% to 11%. This move highlights the rising valuations of NBA teams and
The landscape of diabetes and obesity treatments has dramatically shifted with the emergence of Novo Nordisk’s drugs, particularly Wegovy and Ozempic. These medications, designed to assist in weight loss and regulate blood sugar, have garnered a significant following in the United States. As patient demand escalates, the prices of these treatments have sparked an intense
General Motors (GM) has faced a tumultuous journey in its quest to catch up with Tesla in the electric vehicle (EV) market. While the Detroit-based automaker initially projected that it would overtake Tesla by 2025, a combination of industry-wide challenges, production issues, and evolving consumer preferences has hampered its progress. Now, GM is striving to
In the lush Pacific Northwest, tensions are palpably rising as Boeing finds itself grappling with a significant workforce strike led by machinists demanding better pay and working conditions. This dispute highlights not only the struggles of a cash-strapped aerospace giant but also the dire realities faced by workers in a region where the cost of