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Published September 15, 2010
San Antonio-based USAA Real Estate Co. has partnered with Basketball HOFer DAVID ROBINSON’s Admiral Capital Group to form the Admiral Capital Real Estate Fund that will “invest in commercial real estate across the country and create a profit flow for charitable purposes.” USAA Real Estate will invest up to $50M “in an agreement to match what” Admiral Capital Group raises for the new fund. Admiral Capital Group is investing $6M and “is raising additional investments from third party investors,” including San Antonio businessman RED MCCOMBS and Spurs Owner PETER HOLT. USAA and Admiral Capital Group will “divert 10 percent of their profits in the coming years into Robinson’s charitable fund, the Admiral Foundation” (SAN ANTONIO EXPRESS-NEWS, 9/15).
NO MORE FREEBIES: The L.A. City Ethics Commission voted yesterday to “recommend that high-level officials be barred from receiving free entry to concerts, sports events and other cultural activities if the donor of the free ticket has business pending before the city.” The action comes three months after L.A. Mayor ANTONIO VILLARAIGOSA “confirmed that he had attended dozens of events for free without reporting them as gifts” (L.A. TIMES, 9/15).
SHOW ME THE MONEY: Pittsburgh attorney JAY REISINGER in an interview with SPORTSAGENTBLOG.com said his "personal caseload is about 85%" sports law related, and sports law is "about 50%" of his firm’s total caseload. Reisinger: “The most interesting Sports Law matter that I handled was SAMMY SOSA’s testimony before Congress related to performance enhancing drugs in Major League Baseball. The shear number of interested parties and competing interests created an intriguing and challenging atmosphere.” Reisinger added, “I am a certified agent with the MLBPA, but I don’t represent (as an agent) any player on a 40-man roster. I represent professional and amateur athletes as an attorney. I represent athletes in disciplinary matters, grievance proceedings, eligibility matters, criminal and civil litigation, and salary arbitration” (SPORTSAGENTBLOG.com, 9/13).
NAMES: The Steelers and VA Healthcare-VISN 4 yesterday partnered to “provide a special evening of football for veterans of Operation Enduring Freedom and Operation Iraqi Freedom at Heinz Field.” It is the third year the Steelers have hosted an event “that was established to show their appreciation for thousands of wounded veterans” (Pittsburgh TRIBUNE-REVIEW, 9/15)....The U.S. Soccer Federation and the Dikembe Mutombo Foundation have been named winners of the '10 Steve Patterson Award for Excellence in Sports Philanthropy. The prize is awarded annually by the Robert Wood Johnson Foundation to the professional sports organization and individual sports philanthropy that most effectively demonstrates excellence, leadership and a sustained commitment toward a mission that serves and improves the lives of others (RWJF)....The Michigan Sports HOF Monday inducted NASCAR team Owner JACK ROUSH, Red Wings and Tigers co-Owner MARIAN ILITCH, Hurricanes Owner PETER KARMANOS, Baseball HOFer EDDIE MURRAY, golfer MEG MALLON and former NFL HERMAN MOORE, among others (AP, 9/14)....Fox NFL analyst KURT WARNER will serve as the grand marshal for the Ft. McDowell Fiesta Bowl Parade on Dec. 31, and he will participate in the coin toss to start the Fiesta Bowl on Jan. 1 (AZCENTRAL.com, 9/14).