49 mins. ago
An auction of the retail empire formerly owned by the Barclay family is set to be shelved after bidders failed to meet the £2bn asking price.
Very Group, the online retailer that also owns the Littlewoods brand, was bought by US private equity firm Carlyle for a nominal £1 sum last year and subsequently put up for sale.
But plans to sell the company now appear to be in jeopardy after none of the potential suitors, which included Chinese online giant JD.com, came up with offers large enough to meet Carlyle's demands, Sky News reported.
Carlyle, which had been Very's main creditor, seized control of Very in November following the collapse of the Barclay empire amid a dispute with Lloyds Banking Group about unpaid debts.
In addition to JD.com, possible bidders are said to have included investment firm Elliott, which owns Waterstones, and plus-size online retailer N Brown, which owns the Jacamo and Simply Be brands.
#owns #group #bidders #meet
Very Group, the online retailer that also owns the Littlewoods brand, was bought by US private equity firm Carlyle for a nominal £1 sum last year and subsequently put up for sale.
But plans to sell the company now appear to be in jeopardy after none of the potential suitors, which included Chinese online giant JD.com, came up with offers large enough to meet Carlyle's demands, Sky News reported.
Carlyle, which had been Very's main creditor, seized control of Very in November following the collapse of the Barclay empire amid a dispute with Lloyds Banking Group about unpaid debts.
In addition to JD.com, possible bidders are said to have included investment firm Elliott, which owns Waterstones, and plus-size online retailer N Brown, which owns the Jacamo and Simply Be brands.
#owns #group #bidders #meet
8 days ago
Investor demand for commercial real estate surged this summer, driven by increased liquidity in the credit markets.
Competitiveness in investment sales transactions reached its highest point in more than a year, while competition from the credit markets is higher than JLL has ever recorded, according to quarterly bidding and credit indexes the company released this week. For July CRE transactions, JLL recorded the second-highest number of unique bidders in the last five years.
"Liquidity is back — and building," JLL CEO of Capital Markets Richard Bloxam said in a statement. "The exceptional strength we have seen in credit markets over the past year is now directly propelling transaction activity."
Lender confidence has spread into the equity market with buyers stepping up with clear intent on larger deals, Bloxam said.
That momentum was recorded in JLL's Global Bid Intensity Index and Global Credit Intensity Index. The former measures bidder activity on investment sales transactions and the difference between winning bids and asking prices. The latter tracks the number of lenders quoting on loans and the average winning loan-to-value ratio.
#markets #recorded #liquidity
Competitiveness in investment sales transactions reached its highest point in more than a year, while competition from the credit markets is higher than JLL has ever recorded, according to quarterly bidding and credit indexes the company released this week. For July CRE transactions, JLL recorded the second-highest number of unique bidders in the last five years.
"Liquidity is back — and building," JLL CEO of Capital Markets Richard Bloxam said in a statement. "The exceptional strength we have seen in credit markets over the past year is now directly propelling transaction activity."
Lender confidence has spread into the equity market with buyers stepping up with clear intent on larger deals, Bloxam said.
That momentum was recorded in JLL's Global Bid Intensity Index and Global Credit Intensity Index. The former measures bidder activity on investment sales transactions and the difference between winning bids and asking prices. The latter tracks the number of lenders quoting on loans and the average winning loan-to-value ratio.
#markets #recorded #liquidity
9 days ago
By Mary Guzman
When Spirit Airlines collapsed into bankruptcy, the headlines focused on grounded planes and stranded passengers. But the most consequential part of Spirit's liquidation was invisible: the sale of its trade‑secret dataset; decades of operational intelligence, human decision‑making patterns, proprietary algorithms, and workflow histories sold to Google for just $10 million. The real value is at least 10x by any reasonable measure OTHER than what they sold for in a time of liquidation. I would argue that Spirit could and should have had those **** ets valued and kept a running tally long before bankruptcy and, in fact, as a matter of diligence.
Court filings show Google acquired more than 100 million internal emails, 500 million Teams messages, 7.5 billion de‑identified passenger records, 7.2 billion competitor pricing observations, and 30 million lines of code during the bankruptcy auction. These were not mere "data." They were (assuming they were actually owned by Spirit and protected properly) Spirit's trade secrets—the accumulated operational knowledge of a 17,000‑employee enterprise.
And Spirit was forced to let them go for pennies.
This should alarm every CEO, board member, investor, and lender. Spirit's failure wasn't the auction, though they should have been able to attract many more bidders than the two that participated. It was the years preceding it. From all appearances, the airline never formally inventoried its trade secrets, never valued them, may or may not ever have protected them with proper rigor, and never insured them. When the crisis came, Spirit had no idea what it owned or what it was worth.
#trade #liquidation #sold
When Spirit Airlines collapsed into bankruptcy, the headlines focused on grounded planes and stranded passengers. But the most consequential part of Spirit's liquidation was invisible: the sale of its trade‑secret dataset; decades of operational intelligence, human decision‑making patterns, proprietary algorithms, and workflow histories sold to Google for just $10 million. The real value is at least 10x by any reasonable measure OTHER than what they sold for in a time of liquidation. I would argue that Spirit could and should have had those **** ets valued and kept a running tally long before bankruptcy and, in fact, as a matter of diligence.
Court filings show Google acquired more than 100 million internal emails, 500 million Teams messages, 7.5 billion de‑identified passenger records, 7.2 billion competitor pricing observations, and 30 million lines of code during the bankruptcy auction. These were not mere "data." They were (assuming they were actually owned by Spirit and protected properly) Spirit's trade secrets—the accumulated operational knowledge of a 17,000‑employee enterprise.
And Spirit was forced to let them go for pennies.
This should alarm every CEO, board member, investor, and lender. Spirit's failure wasn't the auction, though they should have been able to attract many more bidders than the two that participated. It was the years preceding it. From all appearances, the airline never formally inventoried its trade secrets, never valued them, may or may not ever have protected them with proper rigor, and never insured them. When the crisis came, Spirit had no idea what it owned or what it was worth.
#trade #liquidation #sold
27 days ago
Last week was busy for Veritas Capital.
On Thursday, the New York-based private equity firm, which makes investments in government-adjacent and regulated industries, agreed to acquire Texas-based Saber Power Services, marking its third acquisition announcement in less than a week.
Days earlier, it agreed to acquire federal contractor Steampunk and environmental consultancy Trinity Consultants, and submitted a 914 pence-per-share proposal for London-listed Bodycote, valuing the industrial services company's equity at about £1.56 billion ($2.1 billion).
The bid places Veritas in a takeover contest with CVC Capital Partners, which proposed 915 pence per share. The bidders face a Sept. 2 deadline.
This dealmaking spree followed Veritas's July agreement to buy facilities management and engineering business BGIS.
#week #Equity
On Thursday, the New York-based private equity firm, which makes investments in government-adjacent and regulated industries, agreed to acquire Texas-based Saber Power Services, marking its third acquisition announcement in less than a week.
Days earlier, it agreed to acquire federal contractor Steampunk and environmental consultancy Trinity Consultants, and submitted a 914 pence-per-share proposal for London-listed Bodycote, valuing the industrial services company's equity at about £1.56 billion ($2.1 billion).
The bid places Veritas in a takeover contest with CVC Capital Partners, which proposed 915 pence per share. The bidders face a Sept. 2 deadline.
This dealmaking spree followed Veritas's July agreement to buy facilities management and engineering business BGIS.
#week #Equity
1 month ago
After a hard-fought bidding war, NBC Sports is retaining media rights to the Preakness Stakes, Front Office Sports has learned.
NBC had been defending its rights to the second leg of racing's Triple Crown against bidders such as Fox Sports, Netflix, and Amazon, say sources. It's unclear how long the network's new deal is for.
Dan Illman, a spokesman for the Maryland Jockey Club, declined to comment. But sources say Maryland Governor Wes Moore and other dignitaries are planning a press conference for 12 p.m. ET in Annapolis on Wednesday, where it will be announced that NBC will continue to carry the race.
The Preakness drew its biggest audience since 2021 this past May, averaging 5.5 million viewers across NBC and Peacock. That was up 22% from 4.9 million in 2025.
NBC has held Preakness rights since 2001. The network also boasts rights to the Kentucky Derby through 2032. Fox holds the rights to the Belmont Stakes, the third leg of the Triple Crown.
#rights #sources #million
NBC had been defending its rights to the second leg of racing's Triple Crown against bidders such as Fox Sports, Netflix, and Amazon, say sources. It's unclear how long the network's new deal is for.
Dan Illman, a spokesman for the Maryland Jockey Club, declined to comment. But sources say Maryland Governor Wes Moore and other dignitaries are planning a press conference for 12 p.m. ET in Annapolis on Wednesday, where it will be announced that NBC will continue to carry the race.
The Preakness drew its biggest audience since 2021 this past May, averaging 5.5 million viewers across NBC and Peacock. That was up 22% from 4.9 million in 2025.
NBC has held Preakness rights since 2001. The network also boasts rights to the Kentucky Derby through 2032. Fox holds the rights to the Belmont Stakes, the third leg of the Triple Crown.
#rights #sources #million
1 month ago
Carlyle and Bain Capital are in contention to acquire Wealth Enhancement in a deal that could value the wealth management platform at about $7bn including debt, the Financial Times has reported.
Wealth Enhancement oversees nearly $160bn in client ***** ets, according to the report. Its private equity owners, TA ***** ociates and Onex, have put the business up for sale.
The two firms are now the final bidders in the process after other contenders dropped out, people familiar with the matter told the FT.
The sale comes as private equity groups continue to pursue independent wealth management firms, which have seen strong deal activity in recent years.
Wealth Enhancement is a registered investment adviser, or RIA. These firms compete with banks by advising wealthy individuals and business owners on investments in exchange for fees.
#Equity #owners #business
Wealth Enhancement oversees nearly $160bn in client ***** ets, according to the report. Its private equity owners, TA ***** ociates and Onex, have put the business up for sale.
The two firms are now the final bidders in the process after other contenders dropped out, people familiar with the matter told the FT.
The sale comes as private equity groups continue to pursue independent wealth management firms, which have seen strong deal activity in recent years.
Wealth Enhancement is a registered investment adviser, or RIA. These firms compete with banks by advising wealthy individuals and business owners on investments in exchange for fees.
#Equity #owners #business
2 months ago
LAS VEGAS — The field is growing larger with each passing week. It’s getting to the point where they should hand out numbers to stand in line, like a bakery does on Sunday morning.
You thought $8 billion was too exorbitant a price tag to join the NBA? Guess again.
There’s a lot of rich people in this world and the possibility of owning a professional basketball team is so tempting, money apparently is no object.
By my count, there are six potential groups or individuals that have publicly expressed interest of bringing the NBA to Las Vegas which if approved, is expected to begin play in 2028. And that doesn’t count Shaquille O’Neal, whose hulking presence lurks in the background as he wants to be part of whatever group ultimately prevails. Nor does it include the folks planning the Diamond Arena project across from Mandalay Bay.
If you’re Adam Silver, the NBA commissioner, you’re rubbing your hands with glee. Because the price of poker is likely to go up. $8 billion you say? How about $10 billion? Or $12 billion? Who knows where the final number will land?
We probably won’t get a better sense of things come Tuesday when Silver meets with the media following the Board of Governors’ annual summer meeting here in Las Vegas. He’ll get asked the expansion question in various ways and he’ll calmly deflect giving direct answers because he’s not about to skewer the process, one that involves intense vetting and careful consideration on a number of factors, not the least of which will be where will the Las Vegas NBA team call home?
Whoever can deliver on an arena for the team which will allow it to control all the revenue streams a professional franchise needs to have in its possession to have financial success in the 21st Century — suites and club seats, naming rights to the arena, parking, concessions, regional television rights — will be the likely successful bidder.
Let us not forget that this is a business decision first and a basketball decision second. Remember, the current 30 teams are deciding to take a smaller cut of the basketball generated revenue pie by adding two teams (Las Vegas and Seattle). So the last thing they want is for one or both of the expansion teams to fail financially. On the court, they’ll hope the teams finish last and next to last though Silver doesn’t share that mindset.
So if you’re Bill Foley, the owner of the NHL’s Vegas Golden Knights and who is one of the six bidders we know of, you may not be the leader in the clubhouse despite the success your franchise has had on and off the ice. Foley only owns a small piece of T-Mobile Arena — 15 percent —the rest is divided evenly between MGM Resorts and the Anschutz Entertainment Group (AEG), each having a 42.5 percent stake in what VGK fans call “The Fortress.”
And even with Foley’s plans to spend $300 million to upgrade the 10-year-old arena, that still doesn’t mean the NBA team would reap the financial benefits that Silver would like to see.
Whi
You thought $8 billion was too exorbitant a price tag to join the NBA? Guess again.
There’s a lot of rich people in this world and the possibility of owning a professional basketball team is so tempting, money apparently is no object.
By my count, there are six potential groups or individuals that have publicly expressed interest of bringing the NBA to Las Vegas which if approved, is expected to begin play in 2028. And that doesn’t count Shaquille O’Neal, whose hulking presence lurks in the background as he wants to be part of whatever group ultimately prevails. Nor does it include the folks planning the Diamond Arena project across from Mandalay Bay.
If you’re Adam Silver, the NBA commissioner, you’re rubbing your hands with glee. Because the price of poker is likely to go up. $8 billion you say? How about $10 billion? Or $12 billion? Who knows where the final number will land?
We probably won’t get a better sense of things come Tuesday when Silver meets with the media following the Board of Governors’ annual summer meeting here in Las Vegas. He’ll get asked the expansion question in various ways and he’ll calmly deflect giving direct answers because he’s not about to skewer the process, one that involves intense vetting and careful consideration on a number of factors, not the least of which will be where will the Las Vegas NBA team call home?
Whoever can deliver on an arena for the team which will allow it to control all the revenue streams a professional franchise needs to have in its possession to have financial success in the 21st Century — suites and club seats, naming rights to the arena, parking, concessions, regional television rights — will be the likely successful bidder.
Let us not forget that this is a business decision first and a basketball decision second. Remember, the current 30 teams are deciding to take a smaller cut of the basketball generated revenue pie by adding two teams (Las Vegas and Seattle). So the last thing they want is for one or both of the expansion teams to fail financially. On the court, they’ll hope the teams finish last and next to last though Silver doesn’t share that mindset.
So if you’re Bill Foley, the owner of the NHL’s Vegas Golden Knights and who is one of the six bidders we know of, you may not be the leader in the clubhouse despite the success your franchise has had on and off the ice. Foley only owns a small piece of T-Mobile Arena — 15 percent —the rest is divided evenly between MGM Resorts and the Anschutz Entertainment Group (AEG), each having a 42.5 percent stake in what VGK fans call “The Fortress.”
And even with Foley’s plans to spend $300 million to upgrade the 10-year-old arena, that still doesn’t mean the NBA team would reap the financial benefits that Silver would like to see.
Whi
2 months ago
The German alpine resort of Oberstdorf will host the Nordic skiing world championships for a fourth time, the governing ski and snowboard federation FIS has said.
The FIS said that its council favoured Oberstdorf for the championships in cross country skiing, ski jumping and Nordic combined over Slovenian bidders Planica.
"I want to congratulate Oberstdorf on a remarkable bid," new FIS president Alexander Ospelt said.
The decision was originally planned for the FIS congress in June but delayed. The announcement now came on the same day as Nordic combined was axed from the Olympic programme for the 2030 Winter Games.
Oberstdorf previously hosted the Nordic worlds in 1987, 2005 and 2021, the latter behind closed doors amid the coronavirus pandemic.
The FIS said that its council favoured Oberstdorf for the championships in cross country skiing, ski jumping and Nordic combined over Slovenian bidders Planica.
"I want to congratulate Oberstdorf on a remarkable bid," new FIS president Alexander Ospelt said.
The decision was originally planned for the FIS congress in June but delayed. The announcement now came on the same day as Nordic combined was axed from the Olympic programme for the 2030 Winter Games.
Oberstdorf previously hosted the Nordic worlds in 1987, 2005 and 2021, the latter behind closed doors amid the coronavirus pandemic.
2 months ago
Carlyle Group has started a formal sale process for UK online retailer Very Group, in a deal that values the business at £2bn ($2.63bn), according to The Telegraph.
The US private equity company took control of Very last November for a nominal £1 after the Barclay family lost ownership.
Carlyle has now appointed Barclays and JP Morgan to run the auction.
PwC administrators, who were brought in last year to manage the handover of the company to Carlyle, said the sale is already in progress and is expected to take several months.
The Very Group has reportedly drawn initial interest from several potential bidders.
The US private equity company took control of Very last November for a nominal £1 after the Barclay family lost ownership.
Carlyle has now appointed Barclays and JP Morgan to run the auction.
PwC administrators, who were brought in last year to manage the handover of the company to Carlyle, said the sale is already in progress and is expected to take several months.
The Very Group has reportedly drawn initial interest from several potential bidders.
3 months ago
NBA Deputy Commissioner Mark Tatum said that NBA Europe “plans to begin naming winning bidders for 12 permanent European teams in the next 60 to 90 days,” according to Alex Sherman of CNBC.com. He added that the league remains “on track to debut in October 2027.” The 12 new teams will be located in Rome, Milan, London, Manchester, Paris, Lyon, Madrid, Barcelona, Berlin, Munich, Athens and Istanbul.
Sports Business Journal
This article originally appeared on Hoops Hype: Mark Tatum. NBA Europe to name winning bidders for teams in the next 60 to 90 days
Sports Business Journal
This article originally appeared on Hoops Hype: Mark Tatum. NBA Europe to name winning bidders for teams in the next 60 to 90 days
8 months ago
Bitcoin due gains after record $24B options expiry lifts 'lid' on BTC price
Bitcoin price predictions include an initial $100,000 target after completion of the Boxing Day options expiry, worth a record $23.7 billion.
Bitcoin
BTC
$87,261
frustrated traders on Christmas Eve as rangebound BTC price action contrasted with record highs in gold and silver.
Key points:
Bitcoin plays a “waiting game” as bidders stay focused on precious metals.
A giant options expiry event should set the scene for BTC price upside, **** ysis says.
https://cointelegraph.com/...
Bitcoin price predictions include an initial $100,000 target after completion of the Boxing Day options expiry, worth a record $23.7 billion.
Bitcoin
BTC
$87,261
frustrated traders on Christmas Eve as rangebound BTC price action contrasted with record highs in gold and silver.
Key points:
Bitcoin plays a “waiting game” as bidders stay focused on precious metals.
A giant options expiry event should set the scene for BTC price upside, **** ysis says.
https://cointelegraph.com/...
