Trail Blazers and Seahawks Owner PAUL ALLEN is “going down an uncommon path among wealthy individuals by funneling some of his net worth … into real-estate developments he controls personally.” While “many superrich investors devote part of their portfolios to real estate, they typically do it passively, through private-equity funds or established developers.” Allen “fell into real-estate development after a nonprofit group advocating the creation of a large park defaulted” on a $20M loan he made, “giving him control of the nonprofit’s land.” Allen’s investment firm, Vulcan Inc., “doesn’t disclose how much it has invested in real estate" (WALL STREET JOURNAL, 11/12).
THIS EAGLE STAYS LANDED: Boston College AD BRAD BATES has seen his name tossed around as a possible candidate for the open Michigan AD job, but the former UM football player yesterday said, "I love it here at Boston College, my values align with the institutional mission and we've really enjoyed living in New England, one of the greatest cities in the world. It hasn’t been a distraction at all." Bates: "I hope to be here a long time." However, Bates notes that he "still keeps tabs on UM and every school he has been a part of throughout his career" (Port Huron TIMES HERALD, 11/12).
NAMES: Louisville football coach BOBBY PETRINO "is in line to get a $500,000 bonus, one of the largest academic bonuses in NCAA history, as a result of his players maintaining at least a 935 score" on their Academic Progress Rate. UL SID KENNY KLEIN said that the school is "still finalizing" the APR for the ‘13-14 season, but is "confident Petrino has reached the required threshold" (ESPN.com, 11/11)....The PGA Tour Humana Challenge yesterday "gave away just over $800,000 in proceeds" to 39 local charities (Palm Springs DESERT SUN, 11/12)....Sports memorabilia dealer ERIC INSELBERG yesterday "scored a legal victory" in his suit against the NFL Giants and QB ELI MANNING "for allegedly doctoring equipment to make it appear game-worn." A federal judge in Newark ruled that Inselberg "can proceed with his lawsuits in state court." The Giants "had sought to have the case move to federal court" (AP, 11/12)....Colorado Senate Republicans yesterday at the State Capitol "celebrated their new 18-member majority by all donning" Broncos QB PEYTON MANNING's No. 18 jersey (DENVER POST, 11/12)....Steelers QB BEN ROETHLISBERGER and a restaurant developer are "scouting spaces" in the North Hills suburbs of Pittsburgh "to house an incarnation of King Street Grille in Charleston, S.C., with menu and sports programming tailored to Western Pennsylvania" (TRIBLIVE.com, 11/11)....Cardinals QB DREW STANTON and his wife KRISTIN welcomed a baby girl on Monday night (AZCENTRAL.com, 11/11).
