NFL suspends Dolphins owner for tampering with Brady, Payton
The NFL has suspended Miami Dolphins owner Stephen Ross and fined him $1.5 million for tampering with Tom Brady and Sean Payton following a six-month investigation stemming from Brian Flores’ racial discrimination lawsuit against the league.
US Justice Department warns FIFA on international ban
WASHINGTON The U.S. Justice Department has entered into a sports dispute involving the company of a longtime friend of President Donald Trump, warning FIFA that a prohibition against staging league matches internationally could violate American antitrust laws. The letter from the Justice Department was included in a filing by Relevent on Tuesday seeking permission to amend its complaint by adding FIFA, soccer's governing body, as a defendant. Relevent alleges the stakeholders committee on Feb. 27 recommended the policy against international league matches be added to FIFA's statutes. Relevent withdrew its state court suit and filed this latest action in federal court, citing antitrust law. Delrahim wrote the department is raising the concerns to protect competition for the benefit of American consumers and soccer players."
Dolphins owner: There definitely will be an NFL season
MIAMI Miami Dolphins owner Stephen Ross says he's confident the NFL will play in 2020, with or without spectators. I think there definitely will be a football season this year, Ross said Tuesday during an interview on CNBC. I dont think a lot of people realize it until they no longer have it. Certainly the NFL, I think, will be ready to go. Weve done a lot of things down in Miami," Ross said.
University of Michigan to build $300M innovation center at failed Wayne County jail site in Detroit
DETROIT The University of Michigan is building a new innovation center at the site of the failed Wayne County jail project in Downtown Detroit. Bedrock, the University of Michigan and local leaders announced the project this week that will sit on Gratiot Avenue, near Eastern Market, spanning 14-acres, named the Detroit Center for Innovation (DCI). Ground level rendering for Detroit Center for Innovation (DCI). The Detroit Center for Innovation combines vision, leadership and a deep commitment to this city and state and I am very appreciative of the efforts of all involved, Whitmer said. Since acquiring the site, Bedrock demolished the half-built jail structure and is currently using the site to support construction related to other in-progress developments in Downtown Detroit.
Peloton falls below IPO price
Peloton, the indoor fitness brand, began trading at $27 a share on Thursday, or nearly 7% below its IPO price. At its IPO price, Peloton was valued at about $8 billion, or roughly double its private market valuation one year ago. Peloton is best known for its internet-connected indoor bikes and subscription cycling classes that can be streamed live or on-demand into homes. Peloton generated $915 million in revenue in its most recent fiscal year, ending June 30, according to its IPO prospectus. Founded in 2006, SoulCycle is the industry veteran and its IPO was expected to value the company at around $900 million.
Equinox owner's plans to host Trump fundraiser bring calls for boycott
Samantha Bonizzi, a spokesperson for Equinox and SoulCycle, told CNN, "Neither Equinox nor SoulCycle have anything to do with the event later this week and do not support it. She said she was adding the company to her list Wednesday morning and encouraged supporters to contact Related Companies. After that, it will only be possible to be removed if Stephen Ross is no longer with Related Companies." Though it's early in the campaign to boycott Equinox, the move could be a boon for competitors. "Stephen Ross, owner of Equinox, SoulCycle, PURE Yoga, and Blink Fitness, is hosting a massive fundraiser in Southampton this weekend for Donald Trump.
Dave Brandon resigns as Michigan AD, Jim Hackett named interim
The announcementPresident Mark Schlissel announced Friday afternoon that Dave Brandon has resigned as Michigan athletic director amid a storm of national scrutiny. Hackett was an offensive lineman at Michigan at the same time as Brandon under legendary coach Bo Schembechler. Brandon took over the Michigan athletic department with one goal in mind: Turn the tradition of the university into profit. Michigan could potentially be interested in the University of Connecticut's athletic director Warde J. Manuel, who served as associate AD at Michigan. Current Arkansas AD Jeff Long also rose to associate AD at Michigan before becoming the top dog at Pittsburgh.