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Two Real Estate Agents Say Racism Was Part of the Culture at Brokerage

March 23, 2023 by www.nytimes.com Leave a Comment

Jarret Willis, a Black real estate agent at a luxury brokerage in the Hamptons, said his co-workers called him Jafar — a comparison to the brown-skinned, villainous sorcerer from “Aladdin.”

Managers routinely lobbed racial epithets around the office, according to a lawsuit filed on Tuesday in New York State Supreme Court by Harlan Goldberg, who is white and who worked with Mr. Willis at the brokerage.

Mr. Goldberg is suing their former brokerage, Bespoke Real Estate, for wrongful termination, unpaid commission and punitive damages. He claims he was fired in part for his objections to Mr. Willis’s treatment by the co-founders of the company, the brothers Cody and Zachary Vichinsky. His lawsuit follows complaints that Mr. Willis filed in February with the U.S. Equal Employment Opportunity Commission and New York State Division of Human Rights. Mr. Goldberg and Mr. Willis plan to jointly file a separate suit that will focus more on the claims of discrimination, according to their lawyer, Adam Leitman Bailey.

“Bespoke categorically denies the allegations and looks forward to vindicating its position in court,” Marc A. Sittenreich, a lawyer representing the firm, said in a statement.

The allegations come amid national scrutiny of discrimination in the real estate industry where, according to the National Association of Realtors, only 8 percent of agents are Black nationwide.

Bespoke operates in the upper crust of luxury real estate, dealing primarily with properties listed for $10 million or more, with a large presence in Miami, New York City and the Hamptons. Three of the 10 most expensive ZIP codes in the country are in the Hamptons, according to RealtyHop , a real estate data website. The town of Southampton, the location of the Bespoke office, is 83 percent white and 5 percent Black, according to the census.

Mr. Willis, 44, a former model who co-owns a fashion boutique in Bridgehampton called Blue One, joined Bespoke in 2017 as a sales associate. He said he was recruited by the firm for his network of friends and associates. His first deal, the sale of a $32.5 million Bridgehampton estate where he represented the buyer, netted him a commission close to $400,000, he said.

But office life was filled with indignities, Mr. Willis said in an interview. In early 2021, Cody Vichinsky, one of his managers, said that he should order “watermelon and fried chicken” for lunch, adding a racial slur, according to Mr. Willis. Mr. Goldberg said he also heard the comment.

In a text message shared with The Times, one white colleague wished Mr. Willis a happy birthday, followed by a racial slur.

The same co-worker sent Mr. Willis a text message saying that an orange shirt he wore made him “look like an inmate,” and used a racial slur to describe the look.

“It killed me inside,” Mr. Willis said. “But the reason I stayed and swallowed it and dealt with it was because I was always owed money,” adding that he disputed his share of the commission on a number of transactions that he helped close.

In April 2022, Mr. Willis was demoted from his role as vice president of Bespoke Parallel, a division of the company, which he claims was retaliation for contesting how much was owed to him for recent sales, according to the lawsuit.

Payment disputes can be especially vexing for Black real estate agents. White agents in 2021 were paid a net median income of $39,500, while their Black peers were paid just $14,400, according to the National Association of Realtors.

The company fired Mr. Goldberg in September 2022, a month after he said he raised concerns about Mr. Willis’s demotion, as well as issues with outstanding payments on some of his transactions, according to the lawsuit.

Mr. Willis resigned from the company in December 2022. The last insult, he said, was when he discovered that his company-issued email account password had been set to “Jafar24!” He quit a few days later, he said.

“I want an acknowledgment of their behavior,” he said. “I want an apology.”

Susan C. Beachy

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Selling Your Home This Spring? How To Navigate a Tricky Real Estate Market

March 23, 2023 by www.newsweek.com Leave a Comment

After a few red-hot years for home sellers, rising mortgage and interest rates along with widespread economic uncertainty have cooled the market, leaving many buyers out in the cold and forcing sellers to reevaluate their pricing strategies. In recent months, we started to see rates drop — for example in January 2023, they were at their lowest in four months (then in February, rates crept up again ).

But keep in mind that mortgage rates hit a 20-year high (subscription required) in late 2022 at more than 7%, so we’re still better positioned than we were last year. In fact, I’ve noticed that offer activity seems to be resuming as buyers return to the table with pent-up demand; this should help balance out higher interest rates.

Regardless of market conditions, the decision to sell your home is generally based on personal circumstances like stage of life, financial situation, family changes or career moves. Some homeowners can wait until the market starts trending up again, while others will have to sell despite market conditions.

The more homeowners know about their selling options, the better equipped they are to take control of their sale and come out ahead, even in a slower market. Assuming a relocation is in your future this spring, here’s what you need to know.

The Factors Driving Home Selling Success: Exposure and Price

The more buyers you reach, the more offers you’re likely to get. One of the easiest ways to widen exposure is by listing your home on the Multiple Listing Service ( MLS ). This can be done either through a real estate broker or a licensed online home selling platform (but it’s not available to “For Sale By Owner” (FSBO) sellers). When your home is on the MLS, it will automatically appear on the biggest real estate search sites (e.g., Zillow, Redfin, Trulia and Realtor.com) — and hopefully capture the attention of buyers nationwide.

Marketing your home through the MLS is only one key step; equally important is setting the sale price. Educate yourself about what homes are selling for in your neighborhood, how your home compares to current inventory (known as “comps”) and how long comparable homes are generally on the market. Over-pricing a home usually means it languishes — and the longer a house is on the market, the more it seems stale or even undesirable to prospective buyers. Finding the sweet spot (sometimes even slightly under-pricing the property) could lead to the coveted bidding war.

By considering these factors in advance, you can maximize your chances of success.

Budget for Pre-inspections, Repairs and Staging

Before you dive into the home selling process, make sure you budget for repairs and staging.

First, determine if there are any issues that need to be addressed before listing—this is known as a pre-inspection. Consider hiring a certified home inspector to conduct a pre-inspection, evaluating factors like the HVAC, furnace, windows, water heater, plumbing, appliances, toilets and even kitchen cabinets. It’s smart to invest in large repairs up front, rather than waiting for issues to be discovered during the buyer’s inspection. More deals fall apart during that phase than any other, and it’s usually due to buyers learning the home needs a significant amount of unforeseen work.

Next, budgeting for staging, which includes painting in neutral tones and upping curb appeal through yard work and minor landscaping, can go a long way in making a strong first impression. You can also consider making small improvements if they fit in your budget, like adding smart thermostats or energy-efficient appliances.

But not everything about prepping your home costs money. It’s key to disconnect yourself from the personal character of your home. Buyers want to picture it as theirs, not yours — and you can achieve this for free. Family photos, knickknacks and kids’ trophies detract from this illusion, so declutter and depersonalize as much as possible. Make sure every countertop and surface is bare and bookcases are minimally but tastefully styled. And color code your closets so they look neater, better organized and bigger; buyers care about storage space.

Choose the Best Selling Approach for Your Situation

As I wrote recently, there’s more than one way to sell your home. Options include working with an agent, FSBO or online selling platforms — and it’s up to you to figure out which best meets your individual needs.

Working with a real estate professional is still the most popular option, but it comes at a steep price (usually 6% commission). For some, the full-service offering real estate agents provide justifies the price; others may prefer a route that allows them to preserve more equity and control.

For example, a number of technology platforms are helping to democratize a market that estate agents once had a monopoly over. (Full disclosure: My company is one such platform.) They generally charge a flat fee rather than a percentage of the sales price. These tools can help home sellers streamline and automate the selling process and retain more control throughout. But not all platforms offer the same value; look for those that are easy to use, harness advanced technology and include guidance from licensed real estate professionals.

Finally, you can sell your home yourself and avoid paying commission, but keep in mind that FSBO homes can sell for up to 26% less than assisted real estate transactions. However, FSBO may make sense if you already have a potential buyer in mind.

Of course, you need to account for seller closing costs, which will be deducted from your equity payout. Generally, closing costs for a seller can amount to roughly 6% to 10% of the sale price , including agent commissions, transfer taxes and fees.

Final Thoughts

Sellers looking to capitalize on the spring market should start planning now. Take the time to carefully think through every aspect, from pricing and listing all the way to fixing creaky cabinets and dusting behind the furniture. The more ownership you take of the process early on, the better positioned you will be for long-term success.

Filed Under: Uncategorized Experts, NEF, Real estate, housing market, us residential real estate market, long beach real estate market, us commercial real estate market, atlanta georgia real estate market, free real estate marketing templates, commercial real estate market data, commercial real estate marketing, commercial real estate market analysis, commercial real estate market research, bangalore commercial real estate market

‘Outrageous betrayal’: Real estate agent jailed for sexually offending against granddaughters

March 24, 2023 by www.stuff.co.nz Leave a Comment

A 67-year-old Auckland real estate agent has been sentenced to five years and eight months imprisonment for multiple sexual offences against two pre-teen girls who considered him their grandfather.

Both girls were between the ages of 11 and 12 when they were indecently assaulted. He attempted to rape one of the girls as well.

He previously pleaded guilty to charges including indecent assault, attempted rape and unlawful sexual connection.

Judge Evangelos Thomas said the offences were an “outrageous betrayal” which would have a significant impact on the two girls through their lives.

One of the girls was the man’s step granddaughter, while the other considered him her grandfather, Judge Thomas said.

“It’s not the touching so much that causes the harm, but the depths of that betrayal, a 12 or 13-year-old doesn’t understand that.”

Judge Thomas granted the man permanent name suppression to protect the identity of his victims, and noted the man had never sought suppression for himself.

The offending occurred three years ago and continued for “an extended period of time” until the man handed himself in to police.

Defence lawyer Paul Borich KC said his client was sorry for what he had done to the children.

“The complainants should have expected loving support from him, and instead they got the opposite,” for which he expressed “profound remorse”, Borich said.

But he said despite the man being of good character for much of his life, he had offended against the two girls, Judge Thomas said.

“This didn’t happen once, it wasn’t a brain implosion… it was part of a pattern of conduct that extended over a period of time.”

The man was given a 40% discount on the starting point of nine and a half years imprisonment in consideration of his early guilty plea and his remorse.

Where to get help

  • Rape Crisis 0800 88 33 00, click link for local helplines.

  • Victim Support 0800 842 846.

  • Safetalk text 4334, phone 0800 044 334 webchat safetotalk.nz or email [email protected]

  • The Harbour Online support and information for people affected by sexual abuse.

  • Women’s Refuge 0800 733 843

  • Male Survivors Aotearoa Helplines across NZ, click to find out more (males only).

  • If you or someone else is in immediate danger, call 111.

  • If you or someone you know is in a dangerous situation, click the Shielded icon at the bottom of this website to contact Women’s Refuge in a safe and anonymous way without it being traced in your browser history. If you’re in our app, visit the mobile website here to access Shielded.

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Football news: Real Madrid humiliate Liverpool at Anfield, Chelsea’s Potter call

February 21, 2023 by www.express.co.uk Leave a Comment

Klopp previews Liverpool’s Champions League tie against Real Madrid

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All eyes are turning to the return of Champions League football tonight after another rip-roaring weekend of Premier League action, with Liverpool set to face Real Madrid in a mouthwatering last-16 first-leg clash at Anfield later this evening. The Reds were beaten by their Spanish counterparts in last year’s final and will be out for revenge in front of their own fans tonight as they look to secure an early advantage heading into next month’s decisive second-leg meeting at the Bernabeu.

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The Merseyside giants could welcome Darwin Nunez back to their squad for the visit of Real Madrid after Jurgen Klopp hinted that the forward may be ready to feature in this evening’s match following a knock against Newcastle United over the weekend. The Liverpool boss told reporters: “There’s a chance. From all the possible scenarios, apart from being absolutely nothing, that’s not the case. We have to see how he can deal with the pain [and] when we know that, we make a decision.”

Manchester United , meanwhile, are currently in the process of finding new owners after a number of formal bids were submitted on Friday and further discussions have reportedly been taking place over the last few days as the situation develops. There is also plenty going on at Stamford Bridge as Chelsea mull over what to do with Graham Potter, who has endured a turbulent time of things since taking over from Thomas Tuchel earlier this season and was booed by fans after Saturday’s home defeat at the hands of Southampton.

Follow all the latest football news with Express Sport below.

Express Sport is on hand to keep you up to date with the latest football news

(Image: GETTY)

1 month ago 23:06 charlie parker-turner

Goodnight!

That’s all from us tonight! Make sure you check in with us again tomorrow as we keep you up to date with all the latest news as it breaks.

1 month ago 23:03 charlie parker-turner

Balogun urged to represent the USMNT

Former USMNT star Eric Wynalda believes that the US should be pushing for Folarin Balogun to change his international allegiancies and represent the Stripes and Stars.

The Arsenal star has been in flying form out on loan at Reims, prompting numerous clubs to register an interest in signing him at the end of the season.

Though Wynalda believes that the USMNT should also be in contact with Balogun to persuade him to represent them rather than England at international level.

He told the Wondergoal podcast : “We have to appeal to his ego which is the reality of this. We should let him know that he will be a star. An absolute star at a World Cup, in his own country as he was born in New York.

“We need to lock him in with some sponsors too. He will be a star with us. He won’t necessarily be a star with England. It will come down to how important it is for him to be in the spotlight. That’s the only chance we’ve got to get him. Everything from the Mastercards, the Budweisers, the Coca-Cola’s, the big ones that will be sponsors of this World Cup. They have to figure out how to fit him into the budget.”

1 month ago 22:08 charlie parker-turner

Liverpool defeat indicates how far they have fallen

Liverpool’s humiliation at the hands of Real Madrid has indicated just how significant of a reshuffle Jurgen Klopp will need to orchestrate at the end of the season if his side are to remain capable of challenging for any sort of trophy.

The loss at Anfield indicated that there were four players that the ex-Borussia Dortmund boss will need to replace. Find out who here .

1 month ago 21:55 charlie parker-turner

Full time

Liverpool have a mountain to climb when they travel to the Santiago Bernabeu next month, losing the first leg 5-2 to Real Madrid.

The Reds made a sensational start to the match before Vinicius Jr hit back 2-1, and the momentum shifted from that point onwards. Jurgen Klopp certainly won’t be happy with how his side self-destructed in the second half.

1 month ago 21:31 charlie parker-turner

Goal! Liverpool 2-5 Real Madrid

Karim Benzema has grabbed his second of the night. The France international rounds off a sensational counter-attacking from Real Madrid by rounding Alisson and smashing the ball into the top corner to send the away supporters into a frenzy.

1 month ago 21:19 charlie parker-turner

Goal! Liverpool 2-4 Real Madrid

The game has been turned on its head. Madrid now have a two-goal advantage as Karim Benzema sees his strike deflect off of Joe Gomez and wrongfoot Alisson.

1 month ago 21:12 charlie parker-turner

Goal! Liverpool 2-3 Real Madrid

Well that didn’t take long, Real Madrid have turned things around. Following a cheap foul by Joe Gomez, a cross is delivered into the box and Eder Militao is left completely unmarked by the Liverpool defence and slams his header past Alisson.

1 month ago 21:09 charlie parker-turner

Back underway

The second half is underway at Anfield, let’s see what the next 45 minutes brings.

1 month ago 20:55 charlie parker-turner

Half time

And breathe! What a first half that was.

Elsewhere, Napoli are 1-0 up away at Frankfurt.

1 month ago 20:42 charlie parker-turner

Goal! Liverpool 2-2 Real Madrid

Anfield has been silenced! Alisson is to blame for this one, with the goalkeeper blasting his clearance into Vinicius Jr and the ball has bounced straight into the back of the net. What a game.

1 month ago 20:25 charlie parker-turner

Goal! Liverpool 2-1 Real Madrid

Vincius Jr has cut the deficit in half with a fierce strike past Alisson. The Brazil international received the ball on the edge of the box before turning away from Joe Gomez and smashing the ball into the far corner.

1 month ago 20:20 charlie parker-turner

Goal! Liverpool 2-0 Real Madrid

Liverpool have been gifted a second thanks to a calamitous mistake from Thibaut Courtois, with Mohamed Salah capitalising on the goalkeeper’s terrible first touch to prod into an empty net. The Belgium international slipped slightly as he looked to control a back pass with his knee, and Salah needed no further invitation.

1 month ago 20:09 charlie parker-turner

Goal! Liverpool 1-0 Real Madrid

Darwin Nunez has opened the scoring for Liverpool within the first four minutes. The Uruguay international expertly manages to latch onto a cross from Mohamed Salah to send Anfield into a frenzy.

1 month ago 20:04 charlie parker-turner

We’re underway at Anfield

Luka Modric gets us underway at a booming Anfield.

Teams:

Liverpool XI: Alisson, Alexander-Arnold, Gomez, Van Dijk, Robertson, Bajčetić, Fabinho, Henderson, Salah, Núñez, Gakpo.

Real Madrid XI: Courtois, Carvajal, Militão, Rüdiger, Alaba, Valverde, Camavinga, Modrić, Rodrygo, Benzema, Vinícius Jr.

1 month ago 18:53 charlie parker-turner

Newcastle make decision on Pope appeal

Newcastle have opted not to appeal against Nick Pope’s suspension ahead of the Carabao Cup final on Sunday, according to the Daily Mail .

The former Burnley star was given his marching orders against Liverpool over the weekend after handballing the ball outside of the penalty area.

It means that the Magpies will be without their No 1 shot-stopper for the match against Manchester United later this week, with Loris Karius set to be brought in to the frame due to Martin Dubravka being cup-tied.

1 month ago 18:14 charlie parker-turner

Guardiola provides KDB fitness update

Manchester City manager Pep Guardiola has confirmed that Kevin De Bruyne and Aymeric Laporte will not feature for his side on Wednesday night as they are both ill.

City face RB Leipzig in the Champions League at the Red Bull Arena, though will be without two key players.

Speaking in his pre-match press conference, Guardiola said: “It is what is during the season, unfortunately. He [KDB] didn’t feel good right after the game with Forest on Sunday. Yesterday, Aymer didn’t feel good. It happens sometimes.”

1 month ago 17:35 charlie parker-turner

Leeds appoint Javi Gracia

Leeds have confirmed the appointment of Javi Gracia as their extended manager hunt comes to an end.

The Whites have reached an agreement with the former Watford boss on a ‘flexible contract’, with the Elland Road outfit hoping that the arrival of the 52-year-old will spark the team into form.

Leeds are hoping that Gracia will be in charge for their Premier League match against Southampton on Saturday, if he is able to obtain his work permissions in time.

1 month ago 16:54 charlie parker-turner

Kante close to penning new deal

Chelsea are confident that they will strike a deal with N’Golo Kante to extend his contract at the club, according to The Telegraph .

The midfielder is set to become a free agent at the end of the season, with several top clubs interested in securing his services.

However, with the France international edging closer to returning to full fitness, it has emerged that Kante is on the verge of penning a new deal at Stamford Bridge.

1 month ago 15:00 Archie Griggs

Liverpool fans branded ‘stupid’

Former Real Madrid ace Fernando Sanz has blasted Liverpool fans for setting off fireworks outside the Spanish team’s hotel in the early hours of Tuesday morning.

He told El Chiringuito : “It’s not funny, it’s stupid. It’s vandalism. Imagine if someone had a window open. The fireworks are bouncing off the wall.

“And this video that we’re watching has come from somebody who took part or saw it. There are two boxes of fireworks, at least.

“Imagine how scared the neighbours must have been. This does not give a good image ahead of the game. I can’t remember the last time this happened in Spain.”

1 month ago 14:02 Archie Griggs

Matip out for revenge

Liverpool defender Joel Matip has admitted that some of his team-mates will be out for revenge against Real Madrid in tonight’s heavyweight Champions League clash at Anfield.

The Reds have been beaten by the Spanish giants in the final on two occasions in recent years but will need to overcome them at the third time of asking to reach the quarter-finals of this season’s competition.

Matip told talkSPORT : “I think to win a game against them is motivation enough, but the past, if it helps you as a player, you can use it.

“For me, I just want to get to the next round, I don’t care who our opponent is, I just want to get through and I will do everything for this.

“Maybe for some of our players it will help to get a little bit of payback, but for me, I just want to go to the next round. It could be any team and I would still go there with all I had.”

1 month ago 13:10 Archie Griggs

Azpilicueta returns to Chelsea

Chelsea defender Cesar Azpilicueta has been discharged from hospital following his horror collision against Southampton over the weekend.

The Spaniard was given oxygen and carried off the pitch on a stretcher after the terrifying incident, which saw him accidentally kicked square in the face by Saints substitute Sekou Mara.

Azpilicueta needed a short hospital stay for additional checks but has since been discharged and was spotted at Chelsea’s training base at Cobham earlier today, although he did not take part in any activities.

1 month ago 12:24 Archie Griggs

Elneny extends Arsenal stay

Arsenal midfielder Mohamed Elneny has committed his future to the Gunners by signing a one-year contract extension in north London.

Elneny, who is the club’s longest-serving player, said: “It makes me so proud to have represented this amazing club since 2016.

“The spirit and togetherness we have in our squad right now is so positive and I’m so happy I have extended my contract.”

Another year of Mo \u2764\ufe0f

\u2014 Arsenal (@Arsenal) February 21, 2023

1 month ago 11:24 Archie Griggs

Jorginho opens up on Arsenal switch

Arsenal new boy Jorginho has insisted that Mikel Arteta was a major reason behind his decision to swap Chelsea for the Gunners on the final day of the January transfer window.

He told DAZN : “It’s one of the reasons, surely. He called me and it was all very quick, we made the deal in less than 48 hours.

“I had spoken to Chelsea and I knew I was no longer part of their plans. I wanted to progress in my career and the Arsenal project suits me.

“It’s a young team that plays good football and fits my characteristics, I considered every scenario and made the decision. Sometimes you must accept when you are out of a project and that things come to an end.”

1 month ago 10:46 Archie Griggs

Simons set to leave Chelsea

Chelsea have already kickstarted their summer transfer plans by agreeing to sell Xavier Simons to Hull City, according to the Evening Standard .

Simons has spent the season on loan with the Tigers and is reportedly poised to join them on a permanent basis when the campaign draws to a close.

He recently hinted that he could look to leave Chelsea in search of regular first-team football, saying: “The situation with Chelsea, I don’t really see a pathway there for me now.

“Coming here is men’s football at an amazing club playing football the way I want to play, so my development, it’s going to be amazing.”

1 month ago 10:24 Archie Griggs

Leeds set to appoint Gracia

Leeds United are shortly expected to confirm the appointment of ex-Watford boss Javi Gracia as their new permanent manager, according to The Athletic .

The Spaniard is set to sign a short-term deal until the end of the season, which could be extended if the Whites manage to secure Premier League survival.

Gracia last managed Qatari club Al-Sadd before leaving at the end of last season and has been out of work since.

Javi Gracia is reportedly set to become Leeds' new permanent manager

Javi Gracia is reportedly set to become Leeds’ new permanent manager (Image: GETTY)

1 month ago 09:49 Archie Griggs

Man Utd ‘had £106m transfer agreed’

The Glazer family almost smashed Manchester United’s transfer record last month to give Erik ten Hag a marquee signing as their final act in the transfer market at Old Trafford, according to AS .

It is claimed that United had an agreement in place to land Dusan Vlahovic from Juventus to the tune of £106million before opting to sign Wout Weghorst on a half-season loan from Burnley.

Everything was said to have been done and dusted in negotiations to see Vlahovic join the Red Devils before his agent stepped in to deny the move, sending United back to square one in their search for a new striker to replace Cristiano Ronaldo at the top of the pitch.

1 month ago 09:17 Archie Griggs

Ederson talks up European hopes

Manchester City goalkeeper Ederson has insisted that Pep Guardiola’s men are prioritising success in the Champions League over another domestic title at the end of the campaign.

He said: “This year, we’re more than capable of getting to the final and challenging for the title.

“We’re a group of great quality and that shows how much the club has developed over the last five or six years, with Premier League titles, League Cups, FA Cups, Community Shields.

“This title is what the club needs, it’s what we athletes need and it’s what [Pep] Guardiola needs here at the club, too. This year, we’re going to try. We’re going after it.”

1 month ago 08:42 Archie Griggs

Klopp hints at Nunez return

Jurgen Klopp told reporters in yesterday’s press conference that Darwin Nunez could be set for a return to action for Liverpool against Real Madrid tonight after coming off with a knock at St James’ Park over the weekend.

“There’s a chance,” said Klopp when quizzed on Nunez, who trained with the rest of his Liverpool team-mates on Monday.

“From all the possible scenarios, apart from being absolutely nothing, that’s not the case, we have to see how he can deal with the pain. When we know that, we have to make a decision.”

1 month ago 08:14 Archie Griggs

Chelsea ready to back Potter

Chelsea are willing to hold back from sacking Graham Potter as a result of their understanding that he will need time to lead a successful rebuild after a whirlwind January window in which nine players were signed.

That’s according to the Evening Standard , who claim that the Blues are ready to learn from Arsenal in giving their manager enough of a chance to turn things around before deciding to pull the trigger.

There is similar admiration at Chelsea for the way Jurgen Klopp built up his Liverpool squad over his first three seasons at Anfield before they were able to challenge Manchester City for domestic honours on a consistent basis.

Graham Potter will reportedly be given more time to put things right at Chelsea

Graham Potter will reportedly be given more time to put things right at Chelsea (Image: GETTY)

1 month ago 07:46 Archie Griggs

Glazers hit out at bidders

Manchester United owners the Glazers have reportedly urged Qatari banker Sheikh Jassim bin Hamad Al Thani and Ineos chief Sim Jim Ratcliffe to stop making public statements regarding the takeover process at Old Trafford.

Both parties are thought to have submitted multi-billion-pound offers for the Red Devils last week, with a buyer expected to have been found by the end of next month.

The Glazers were left particularly frustrated by Sheikh Jassim’s recent pledge to return United to the ‘glory years’ if his bid is successful, according to BBC Sport .

1 month ago 07:23 Archie Griggs

Good morning

Hello and welcome to Express Sport ‘s live coverage of the latest news and updates from across the world of football.

Liverpool are in Champions League action tonight against Real Madrid and we’ll be on hand to provide you with the build-up and team news ahead of that one.

We’ll also be covering the latest on Manchester United’s takeover process and the situation at Chelsea regarding the future of manager Graham Potter, so grab a coffee and stay tuned…

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Miami Marlins Claim To Have $1.6 Billion Handshake Agreement For Team

February 9, 2017 by www.forbes.com Leave a Comment

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MIAMI, FL – SEPTEMBER 28: Dee Gordon #9 of the Miami Marlins slides safely into second base as the … [+] ball gets away from T.J. Rivera #54 of the New York Mets during the game at Marlins Park on September 28, 2016 in Miami, Florida. (Photo by Rob Foldy/Getty Images)

Two sources who spoke on the condition of anonymity said that Miami Marlins president David Samson has said that there is a $1.6 billion “handshake agreement” for the MLB team. Jeffrey Loria paid $158 million for the baseball team in 2002.

In December, I wrote that Loria was looking for $1.7 billion for the baseball team.

Since Loria purchased the team in 2002, the Marlins have moved into a new, $639 million stadium paid for by taxpayers. Marlins Park could have been a financial windfall for the team. But during the ballpark’s first five seasons the Marlins have been one of the worst teams in baseball, losing more games than they have won each year. Paying for a stadium for a lousy team has ticked off supporters. Last season the Marlins had the lowest average attendance in the National League, 21,405.

My sources would not say who the $1.6 billion handshake agreement was with other than he is a real estate developer based in New York City. The problem, according to these sources, is the potential buyer is not liquid, meaning he does not have the cash to buy the Marlins because his net worth is tied up in real estate. Thus, for the real estate developer to purchase the Marlins would likely require more debt than MLB would be comfortable with.

Guggenheim Baseball Management also used a lot of debt to buy the Los Angeles Dodgers for $2 billion in 2012 from Frank McCourt. But Guggenheim had two huge advantages that a new owner of the Marlins likely would not have: hundreds of millions of dollars in hedge fund and insurance company money and a $6 billion bounty from a new cable television deal.

In contrast, the Marlins get a pittance from Fox Sports Florida in a deal than runs through 2020. A tripling in the value of their television deal would bring the Marlins only about $60 million a year, just one-fourth of the Dodgers annual average haul.

But the $1.6 billion price tag cannot be shrugged off, say my sources. MLB’s new collective bargaining agreement gives the sport labor peace through 2021. And some people are convinced the Marlins can be turned around. Last November, Solamere Capital was considering the possibility of buying the Marlins. My sources say the price being bandied about at that time was $1.4 billion.

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