Report: Dan Gilbert is part of group trying to buy Sports Illustrated
DETROIT – Billionaire Dan Gilbert and motivational speaker Tony Robbins are part of a group bidding for Sport Illustrated, according to a report from the NY Post.
Sports Illustrated is currently owned by Meredith. Groups interested in buying the former Time Inc. title are facing a bid deadline of 5 p.m. Monday.
From the NY Post:
Since the advent of legalized sports gambling, SI appears to be drawing the most interest from potential suitors. Meredith is said to still be holding hope that SI will fetch at least $200 million — but industry sources think a sale price that rich is not realistic as the title’s profit last year was around $13 million.
Gilbert, 56, is the founder of Quicken Loans and Rock Ventures. He owns the NBA's Cleveland Cavaliers and several other sports franchises. He's best known in Detroit for his development efforts in the city's Downtown neighborhood where his company owns and manages several pieces of prime real estate.
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