Weekly insights and analysis on the latest developments in military technology, strategy, and foreign policy.
The Turkish Air Force looks set to receive a major boost to its fighter fleet, with the delivery of dozens of F110 engines required to power the homegrown TF Kaan combat jet. This would be one of the most significant positive developments in U.S.-Turkish defense relations since Turkey was ejected from the F-35 program in 2019, and may even pave the way for Ankara to rejoin that effort.
Citing four sources familiar with the matter, Reuters reports that President Donald Trump’s administration plans to go ahead with the engine sale, said to be worth more than $700 million, despite some resistance from Congress.
Reporter: Türkiye wants the F-110 jet engines, and they want their F-35 fighter jets. Are you going to Türkiye with a big gift bag?
Trump: I think so. He’s a member of NATO. Some people don’t consider himself, but he really is.
Ahead of his July trip to a NATO summit in Turkey, Trump was asked by a reporter whether Turkish President Tayyip Erdogan would be provided with a “big gift” in the form of F110 engines and potentially F-35 fighter jets.
“He’s a member of NATO,” Trump replied. “He really is a strong member of NATO. Yeah, I’m going to probably do something that’s going to make him very happy.”
Speaking alongside Trump, Vice President JD Vance said a review was underway to see if Turkey could receive the F-35.
JD Vance on Türkiye’s F-35 jets:
Pete and the entire team are reviewing this right now, because there are certain things that we have to certify have happened — that have happened in order to comply with American law. The president has asked us to do that.
“Pete and the entire team are reviewing this right now, because there are certain things that we have to certify have happened … in order to comply with American law,” Vance said, referring to Secretary of Defense Pete Hegseth.
The question of whether Turkey might receive F-35s has long been a fraught one, with Ankara kicked out of the program back in 2019, a development we will return to later.
For now, however, Turkey’s priority seems to be securing F110 engines.
The F110 engine for an F-16 at max power during a test in the hush house engine facility at Hill Air Force Base, Utah. U.S. Air Force photo by Alex R. Lloyd
Turkey’s TF Kaan next-generation fighter is a flagship program of the country’s burgeoning aerospace industry. The program was launched in 2010, and the first prototype took to the air in early 2024.
Reportedly, Turkey plans to complete three pre-production prototypes, to be followed by 250 series-production aircraft, incorporating various refinements.
Last month, a contract was reportedly signed for 20 examples of the initial Block 10 versions of the Kaan.
The twin-engine Kaan was developed with a reduced radar signature in mind, as well as a high level of performance and modern avionics and other systems. As a result, it doesn’t offer the same level of low observability as the F-35, while its sensor fusion, electronic warfare capabilities, and other ‘fifth-generation’ features lag behind the U.S.-designed jet.
One of the F-35s that was completed for Turkey before its ejection from the program. Lockheed Martin
Critically, the Kaan is powered by U.S.-supplied General Electric F110 turbofans.
F110s are assembled under license in Turkey by TUSAS Engine Industries (TEI) but are still governed by U.S. export restrictions. These engines are already used in significant numbers by the Turkish Air Force F-16 fleet, the third-largest in the world. Outside of the F-16, the F110 is also used in the F-15E Strike Eagle and F-15EX Eagle II, among other F-15 variants. An F110 comes with a typical flyaway unit cost of $10 to $15 million.
The Kaan program has long been overshadowed by the question of whether Washington will make available in larger numbers the F110 turbofans used in the prototype. Reportedly, an initial batch of 80 engines is required.
While Turkish officials have expressed hope of ultimately switching to a domestically produced engine type for the Kaan, TEI’s TF35000, it’s unclear how realistic this is, at least in the near term. Turkey has also looked at acquiring alternative engines, too, including those from Russia or Rolls-Royce in the United Kingdom.
In the meantime, the importance of the Kaan to the Turkish Air Force increased significantly in 2019, when it became clear that Ankara would be kicked out of the F-35 program, in which it had a considerable industrial stake, and a plan to buy around 100 of the fighters. Washington took that decision after Turkey refused to abandon its purchase of Russian-made S-400 long-range air defense systems.
A Russian Ilyushin Il-76, carrying the first batch of equipment for the Turkish S-400 missile defense system, arrives at Murted Air Base in Ankara on July 12, 2019. Photo by Turkish National Defense Ministry / Handout/Anadolu Agency/Getty Images
As well as the S-400, U.S. lawmakers were unhappy with Turkey’s worsening relations with Greece, its other connections with Russia and Azerbaijan (which included the deployment of F-16s to the latter country), its conduct in the Syrian civil war, and human rights abuses. Turkey’s opposition to Sweden joining NATO also proved to be a significant hurdle.
In the wake of all this, the chances of Turkey receiving F110 engines were dramatically reduced. At the same time, Turkey’s request to buy additional F-16 fighters was also turned down. Turkey reportedly also began stockpiling spare parts for its F-16 back in 2019, fearing the effects of U.S. sanctions.
Turkish Air Force F-16 fighters at Balikesir, Turkey, in May 2022. Photo by Ali Atmaca/Anadolu Agency via Getty Images
Toward the end of the Biden administration, U.S.-Turkish relations began to improve, and Washington moved to push through sales of new F-16s and upgrade kits for older jets to Turkey. There also began to be suggestions that the F-35 was potentially back on the table for Turkey.
Under the Trump administration, Washington’s relationship with Ankara has become closer, with Erdogan frequently praised by the U.S. leader.
At the same time, the issue surrounding the S-400 and the sanctions that followed that acquisition remains.
As it stands, U.S. law does not permit Turkey to operate or possess the S-400 system if it wishes to rejoin the F-35 program, as a result of security concerns around the Russian-made system.
The first F-35 for Turkey was rolled out during a ceremony at the Lockheed Martin plant in Fort Worth, Texas, on June 21, 2018. Photo by Atilgan Ozdil/Anadolu Agency/Getty Images
During a visit to Turkey in early 2024, the U.S. Acting Deputy Secretary of State Victoria Nuland reportedly suggested that the United States might be willing to offer Patriot air defense systems if it were to give up its S-400s, which could also clear the way to re-entering the F-35 program.
“Frankly, if we can resolve this S-400 issue, which we want to do, the United States would be pleased to welcome Turkey back into the F-35 family,” Nuland said. “But we must solve this other issue first, and while we solve it, we must also ensure that Turkey has a strong air defense.”
The apparent decision to clear the F110 sale certainly represents a further softening of Washington’s stance, and it could be a stepping-stone to Ankara eventually being readmitted to the F-35 program.
Turkey’s desire for F-35s has only been intensified by the fact that Greece, its major strategic rival, has been approved for a purchase of the jets. You can read all about how tensions between Greece and Turkey are reflected in the countries’ respective air forces in this previous feature.
Presentation ceremony of the Kaan on May 1, 2023, in Ankara. Photo by Yavuz Ozden/ dia images via Getty Images
Even regarding the F110 transfer, some opposition to defense sales to Turkey remains in Washington.
In particular, Representative Gregory Meeks of New York, the leading Democrat on the House of Representatives Foreign Affairs Committee, has reportedly stood in the way of the engine sale during an informal review process.
However, according to the four sources who spoke to Reuters, the F110 deal should be “finalized in the coming days, followed by a formal notification from the State Department to Congress.”
While lawmakers can use the congressional review process to raise their concerns over big-ticket defense exports, the administration can override these.
According to the Wall Street Journal, the Trump administration is expected to override Meeks’ effort to block the engine deal.
For the Kaan program, the F110 is vital.
Denied the F-35 and with F-16 deals moving forward only slowly, Turkey has been forced to look elsewhere to meet its short-term fighter needs. Most significantly, it signed a deal for 20 Eurofighter Typhoon jets last October.
U.K. Prime Minister Keir Starmer and Turkish President Tayyip Erdogan sign the Typhoon deal in Ankara in October 2025. Eurofighter
Turkey has also been investing heavily in drones, including the ANKA-3, a low-observable flying wing uncrewed combat air vehicle (UCAV), and the fighter-like Bayraktar Kizilelma. Still, these are viewed as adjuncts to advanced crewed fighters, like the Kaan.
Whether securing the F110 engines means the Kaan meets its target of service entry around the 2030 timeframe remains questionable.
However, it is a major step in that direction.
As well as being fielded by the Turkish Air Force, the Kaan could have significant potential for export, although sales would be governed by U.S. restrictions on its engines. It is one of a number of medium-weight fighters that feature low-observable characteristics and advanced avionics. These include China’s FC-31 and South Korea’s KF-21.
The Chinese Shenyang FC-31 fighter prototype. via Chinese internet
Perhaps most importantly, the F110 deal would get back on track what is very much the flagship of Turkey’s military aerospace industry. At the same time, a U.S. decision to provide Ankara with these engines will also be welcomed by those in Turkey who still wish for a way back into the F-35 program.
Now Home Bargains is selling what it says is “convenient” and contains all the beauty products you need for your break. It is selling the Travel Essentials Filled Bag for £24.99 – that is 75% less than its recommended price of £100.
Listing some of the contents on its website it describes it as: “A complete travel beauty and self-care kit featuring skincare, makeup, haircare, body care, and travel accessories. Includes Glow Hub, W7, Jil Sander, Escada, Aussie, and more, all packed in a stylish reusable travel bag.”
Then, in the product description, it adds: “Take your beauty and self-care routine wherever you go with the Travel Essentials Filled Bag. Packed with a carefully curated selection of skincare, haircare, makeup, and travel accessories, this convenient kit contains everything you need to refresh, hydrate, and pamper yourself while travelling.
“Inside you’ll find Glow Hub skincare favourites, W7 beauty essentials, Jil Sander shower gel, Escada body cream, Aussie travel-size haircare, and practical travel accessories including an eco scalp massaging brush, shower cap, and reusable travel bag. Whether you’re heading on holiday, a weekend getaway, or a business trip, this all-in-one collection helps you stay organised and feel your best on the go.”
Shoppers will not be able to pick up the bag in-store as it is an online-only deal. However the website gives further details of the Star Buy listing the products:
Glow Hub Calm & Soothe Face Mask Stick 35g
Glow Hub Calm & Soothe Serum Mist 90ml
W7 Lip Drink Lip Oil 10ml
Jil Sander Sun Shower Gel 150ml
Glow Hub Scar Slayer Skin Mask 100ml
Whind Dissolving Jelly Cleanser 6ml – Oasis Fresh
Revolution Hot Shot Kombucha Kiss Primer 25ml
W7 Sherbet Pop Eyeshadow Palette 18g
Escada Santorini Sunrise Moisturising Perfumed Body Cream 50ml
Meanwhile, if this is not to your taste, M&S also has an option. Its Summer Beauty Bag is priced £40 – a saving of 81% compared with buying the same amount.
It is described as “sunshine-ready” and contains some beauty-favourite products from brands including Clinique and Estée Lauder. It lists the contents as:
Floral Street Wonderland Peony Eau De Parfum – 10ml
Iconic London Prep Set Glow Original – 120ml (Full Size)
Leighton Denny I love Juicy Opague Nail Polish – 13.5g (Full Size)
Hair by Sam McKnight Sundaze Sea Spray – 150ml (Full Size)
Clinique Dramatically Different Moisturizing Lotion SPF50 – 50ml (Full Size)
Amazon’s Prime Day sale is underway, and members can subscribe to platforms such as Apple TV, Paramount+ and MGM+ with up to 60% off.
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Project Haily Mary is streaming now on MGM+
Amazon has slashed the price of Apple TV, Paramount+ and MGM+ by up to 60% to mark the start of its latest Prime Day sale. On Tuesday (June 23), the retail giant kicked off its latest site-wide sales event, where subscriptions for several major streaming platforms now start at £2.99.
During the sale, Amazon customers can bag an Apple TV subscription for half price at £4.99 (was £9.99) per month. Those securing the deal will lock in the lower price for two months, after which it reverts to the usual £9.99 until cancelled.
Similarly, MGM+ – the home of Project Hail Mary – is now £2.99 (was £5.99) for two months, while Paramount+ is £2.99 (was £7.99) for one month. The deals are running until July 2 and come as Amazon kicks off its Prime Day 2026 sale.
A caveat is that both the reduced streaming subscriptions and free trials will roll on to standard paid subscriptions at the end of the promotional period. This means subscribers should make sure to cancel their subscription before the end of the discounted or free period if they want to avoid paying the standard rate.
Amazon customers can subscribe to Apple TV through Prime Video for £4.99 per month for two months until July 2.
Elsewhere, Sky is giving away streaming subscriptions at no extra cost with its TV packages, with customers signing up for the £24 Ultimate TV bundle able to claim free access to Netflix, HBO Max and Disney+. It also comes with around 135 channels, including Sky Atlantic
For those opting for Apple TV, the streamer has released some highly acclaimed titles already this year. Including comedy horror Widow’s Bay, which holds an impressive 98% Rotten Tomatoes score.
Just launched is the sophomore season of Sugar. The neo-noir detective series led by Colin Farrell as private investigator John Sugar.
Also available to stream are beloved series like Ted Lasso, Severance and Slow Horses. Alternatively, Apple TV offers a seven-day free trial when signing up directly on the platform.
MGM+ also has some hit new titles streaming now, such as Ryan Gosling’s space epic Project Hail Mary. The box-office smash only hit cinemas in March but is included at no extra cost with the Amazon deal, alongside series like Outlander and the James Bond film catalogue.
On Paramount+, members can catch the latest series of Michael Fassbender’s spy thriller The Agency and new episodes of Yellowstone spin-off Dutton Ranch. These are also available on the Paramount+ platform, which is running its own £2.99 deal.
Netflix Inc. is under contract to buy Radford Studio Center, a historic Los Angeles movie studio space, for a fraction of its 2021 $1.85-billion sale price after lenders including Goldman Sachs Group Inc. repossessed the property.
The price is close to $400 million, according to two people with knowledge of the transaction, which is expected to close in the third quarter.
The one-time silent movie lot has been home to many popular TV series over the decades, including “Gunsmoke,” “Gilligan’s Island” and “Seinfeld.”
Netflix wants to consolidate its real estate footprint in one place and has been considering relocating from a group of Hollywood buildings it leases from Hudson Pacific Properties Inc. The Hudson Pacific leases expire in 2031.
Radford’s current owner, Hackman Capital Partners, defaulted on $1.1 billion of bondholder debt and turned the property over to lenders led by Goldman after it was unable to reach a refinancing deal last year. The sale will wipe out close to two-thirds of the debt.
The value of Los Angeles studio real estate has tumbled since interest rates climbed and production plummeted following strikes in 2023 by unions representing writers and actors. Landlords unaffiliated with studios, such as Hackman, have been hit particularly hard as production moved to space owned by the entertainment giants. Occupancy of L.A. soundstages fell to 62% in the first half of last year, according to FilmLA, a local permitting group.
Representatives of Goldman and Netflix declined to comment. A Hackman representative didn’t immediately provide a comment.
Netflix, which has historically leased rather than owned real estate, has stepped up investing in studio lots. It’s currently developing a $1-billion production center in Fort Monmouth, N.J. The streaming service reported $12.3 billion in cash and equivalents in its most recent quarter. Netflix was paid a $2.8-billion breakup fee by Paramount Skydance Corp., which won a bidding war for Warner Bros. Discovery Inc.
Before the recent slowdown, Hackman went on a buying spree of movie lots, banking on ever-growing demand for streaming TV production. In March, Deutsche Bank AG sued Hackman to foreclose on its Kaufman Astoria Studios in New York. Hackman-owned Television City in Los Angeles and Manhattan Beach Studios in nearby Manhattan Beach are both being marketed after lenders led by Deutsche Bank pushed for the sale, Bloomberg reported in May.
Brokerage Cushman & Wakefield Ltd. is selling the $240-million loan on the 22-acre Manhattan Beach property, which it describes in a marketing document as “one of the most strategically positioned opportunities in coastal Los Angeles, combining an institutional-quality operating asset with some of the most irreplaceable underlying land in the South Bay.”
The Radford Studio lot was only 71% leased as of March, according to mortgage filings.
Lesley Horton, the UK’s Chief Property Ombudsman, said: “If implemented carefully and supported by clear guidance and appropriate training, these reforms can create a home buying and selling system that is faster, fairer and better equipped to meet the needs of consumers in the years ahead.”
THE Big Butlin’s Sale is officially on, and there are some humongous savings to be had
Savvy holidaymakers can save up to 40% off ALL breaks in 2026 and 2027, including breaks in the school summer holidays and at Halloween and Christmas.
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The MASSIVE Butlin’s Sale is on – with up to 40% off breaks, 25% off food and £1 depositsCredit: Butlin’sYou can still book a summer break for this year or get ahead and book a 2027 holidayCredit: butlins
There are discounted breaks available across all three resorts: Bognor Regis, Minehead and Skegness.
Not only can you knock nearly half the cost off your Butlin’s break, but there are even more savings to be had if you book this month.
Those who book before June 30 can bag 25% off dining during the school holidays, as well as up to 20% off all inclusive drinks packages.
So not only will you majorly save on accommodation, but food and drink will also be much cheaper once you’re there, too.
And to top it all off, you can secure your break with a super low deposit of £1pp. There are also flexible payment plans available.
The offer even applies to popular Butlin’s seasons such as Spooktober, Festive Breaks, new year celebrations and their Christmas day ‘ultimate sleigh-cation’.
Families can bag a last-minute summer staycation across dates in June, July and August at all three resorts.
These last-minute summer breaks include Showtime Midweek stays featuring a new show with Peppa Pig and Evie, as well as Showtime Weekends with a Mythical Beasts show and Snow White panto.
During Spooktober families can expect as Halloween Welcome Party, plus events like pumpkin carving and a huge game of Halloween Hide and Seek with mascot Billy Bear.
The Big Sale includes discounts of up to 40% on all holidays, as well as deposits from £1Credit: Not known, clear with picture desk
The fairgrounds will also receive a spooky makeover with giant glowing pumpkins and Halloween characters.
You could also book in for a Festive Break, with Christmas shows, festive movie nights, a Christmas party and of course, a meet and greet with the bearded man himself.
Plus the popular pantomime show Jack and the Beanstalk is making a return, which has received rave reviews for its hilarious characters.
You can book a Spooktober break from £39, or a festive break from £40.
Or you can book ahead and bag yourself a break now for 2027, securing a holiday for up to 40% off full-price.
2027 will see a new show arriving to Butlin’s: Britain’s Got Talent Live on Stage.
The new show will be hosted by a celebrity presenter and will be on during February half term, Easter, May half term, October half term and selected summer holiday dates.
The up to 40% off sale also applies to the popular adults-only Butlin’s Big Weekenders, which have themes like We Love Ibiza as well as 80’s and 90’s throwback weekends.
You could book yourself in for a Halloween break during Butlin’s’ Spooktober eventCredit: Butlin’sButlin’s have introduced a new wrestling show for 2026, hosted by Peter Andre and Chris HughesCredit: Butlin’s
The Weekenders even have famous headline acts like Fatboy Slim and Aston Merrygold, with weekend breaks starting from £59pp.
Plus there’s plenty of new and exciting events for families coming up, like The Masked Singer Live and the Peppa Pig and Evie show.
Plus, new for 2026, the Max Pro Wrestling show includes jaw-dropping stunts and nail-biting battles for the championship belt, with celeb hosts such as Peter Andre and Chris Hughes.
The Big Butlin’s Sale is on until June 30, with Butlin’s warning that dates are on track to sell out fast.
The world’s most valuable company, the chipmaker Nvidia, priced a $25 billion (€21.5bn) bond offering on Monday, marking its first issuance since 2021 and one of the largest by a technology company this year.
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The deal was originally pencilled in at around $20 billion (€17.2bn) but was enlarged after demand ran more than three times the size of the bond, according to a person familiar with the matter cited by Bloomberg.
Investor appetite was the headline of the sale.
Orders reached as high as $85 billion (€73.2bn), allowing Nvidia to upsize the transaction and tighten its borrowing costs in the process.
The timing was also favourable.
The announcement of a US-Iran framework deal to end the conflict in the Middle East steadied credit markets, pushing investment-grade spreads to their narrowest levels since early February, before the Iran war began.
That backdrop helped Nvidia lock in relatively cheap long-term financing.
According to Bloomberg Intelligence analyst Robert Schiffman, inexpensive long-dated debt lowers Nvidia’s weighted average cost of capital and helps bankroll its AI investments without threatening its AA credit rating.
A company spokesperson stated that the proceeds would be used for general corporate purposes, including repaying and refinancing existing notes.
Nvidia last tapped the investment-grade market in June 2021, when it sold $5 billion (€4.3bn) of notes across four maturities, according to a regulatory filing.
The contrast in scale underscores how quickly its financing needs have grown alongside the data centre build-out and increased demand from hyperscalers.
A wider borrowing frenzy
Nvidia joins a queue of technology giants raising vast sums to fund AI infrastructure.
Meta and Oracle have each issued $25 billion (€21.5bn) in bonds this year, while Amazon completed a single $37 billion (€31.8bn) deal, the largest US investment-grade offering of this year before Nvidia’s issuance on Monday.
For Nvidia, the raise also keeps share dilution off the table, giving it greater flexibility as capital commitments mount. The firm has invested $5 billion (€4.3bn) in Intel, pledged up to $10 billion (€8.6bn) to Anthropic and contributed $30 billion (€25.8bn) to OpenAI’s latest funding round.
Nvidia shares closed up 3.5% at $212.45 after the deal, valuing the company at about $5.14 trillion (€4.42tn).
On the other hand, Alphabet, Google’s parent company, opted for equity instead, pricing an upsized $84.75 billion (€73bn) capital raise earlier this month, after originally seeking around $80 billion (€68.9bn), according to a company filing.
The transaction, which includes a $10 billion (€8.6bn) private placement from Berkshire Hathaway, ranks as the largest equity capital raise on record and is intended to fund the group’s AI compute expansion.
Management has guided 2026 capital expenditure to between $180 billion (€155.1bn) and $190 billion (€163.7bn).
However, the equity move came on top of an already heavy borrowing run. According to its own filing, Alphabet raised more than $85 billion (€73.2bn) of debt across six major currencies and markets in the first quarter of 2026, taking its total debt balance above $100 billion (€86.1bn).
That included a US dollar bond round early in the year, leaving Google relying on both debt and equity financing to bankroll its AI ambitions.
In less than a month, Riverside’s Mission Inn has gained a new owner, lost two prized pieces of art and sparked a heated debate over the line between private property and community history.
The stage for this controversy was set in early May, when hotel owner Kelly Roberts decided to sell the Mission Inn to the Yuhaaviatam of San Manuel Nation, the tribe that owns the Yaamava’ Resort & Casino in Highland and the Palms Casino Resort in Las Vegas.
But it wasn’t the sale (for an undisclosed amount) that started arguments. It was Roberts’ removal of two beloved paintings from the hotel before the sale closed.
A painting at the Mission Inn in Riverside titled “Charge Up San Juan Hill” is taken down on March 20, shortly before the hotel’s change in ownership.
(James Ranger)
One is an alpine landscape called “California Alps” (1874) by William Keith, which measures roughly 6 feet by 8 feet and was displayed in the lobby near the front desk. The other painting, “Charge Up San Juan Hill” (about 1900) by Vasily Vereshchagin, was displayed on a wall of the steakhouse near the lobby. Both paintings had been a part of the hotel for more than a century.
“It was like a slow-motion version of the Louvre Museum heist, pulled off on a sunny day in Riverside in view of guests, staff and visitors,” wrote David Allen of the Riverside Press-Enterprise.
“There’s an outrage among members of this community,” said Mike Marlatt, a Riverside attorney and former board member of the Mission Inn Foundation.
The issue appears to be what agreements Roberts’ late husband made when he bought the building more than 30 years ago.
Former Riverside redevelopment official Ralph Megna, who facilitated the 1992 sale to Duane Roberts’ Historic Mission Inn Corp., wrote on Facebook that “What Kelly is apparently doing at this point is just pillaging the place in violation of those agreements.” But on a phone call, he was less absolute. He said the original pact included an agreement intended to protect about 180 movable pieces of art and artifacts from removal, but that “there’s shades of gray here.” Megna added, “We trusted people. Good faith turned out to be not so good.”
Duane and Kelly Roberts, photographed in 1998 at their home in Laguna Beach. Duane, who reopened the Mission Inn in the early 1990s, died in 2025.
(Glenn Koenig / Los Angeles Times)
Roberts’ family attorney Alan Jackson, however, said “Kelly is not pillaging anything.” He maintained that when Duane Roberts bought the hotel, “he bought every single item. Every single item was the Roberts family’s personal property.” When Kelly Roberts sold the hotel last month, Jackson said, she was free to keep or sell any of its contents.
In that deal, Jackson said, “the buyers would not close” until the paintings and a sculpture of Duane and Kelly Roberts were removed, because “they’re expensive.” Also, Jackson said that Duane Roberts, “before his passing, made it very clear to Kelly and the family that those are two of his favorite paintings ever.”
Jackson declined to say where the artworks are but said “they are in her possession” and “she has no intention of ever getting rid of those ever.”
The iconic spiral staircase in the rotunda of the historic Mission Inn.
(Gina Ferazzi / Los Angeles Times)
The hotel’s new owner, the San Manuel Investment Authority, declined to address questions about the sale agreement. But in a statement, it said it is “committed to collaborating with the Mission Inn Foundation and the City to respectfully steward and preserve this historic landmark, recognizing its deep history and significance to the Riverside community.”
Despite accolades from groups including Historic Hotels of America, tensions between the Roberts family and Riverside preservationists have risen in recent years. In late 2024, after more than 30 years renting space within the hotel, the nonprofit Mission Inn Foundation and Museum was unable to agree on a lease extension with hotel management and moved to a building on Main Street. Foundation leaders did not respond to messages seeking comment.
“The Mission Inn is so foundational to Riverside that any significant change brings real concern to me and makes me uneasy,” said City Council member Philip Falcone, 28, who has been leading tours of the inn since he was in high school.
The Keith painting is “quintessential California, a romanticized view of the Sierra Nevada range. William Keith, the painter, was friends with John Muir,” Falcone said. As for the San Juan Hill painting, it connects neatly with the history of Theodore Roosevelt, one of nine presidents who have visited the inn.
A guest takes in the view from the Spanish patio at the Mission Inn.
(Gina Ferazzi/Los Angeles Times)
The hotel is largely the creation of Frank Miller, who bought Glenwood Cottage, a modest boarding house, from his father in 1880. Then Miller enlisted investment help from his friend, railroad magnate Henry Huntington, transformed the boarding house into a hotel and renamed it. Over time, Miller built it into an architectural wonderland filled with art and antiques gathered in the U.S. and Europe. By 1931, the enterprise filled a city block.
“It’s a unique property,” said David Stolte, president of the Old Riverside Foundation. “It’s a National Historic Landmark. It kind of sits at the intersection of private commerce and public benefit. The original owner, Frank Miller, intended it as a public space, essentially a cultural museum, in addition to his business of running a hotel.”
After Miller’s death in 1935, the hotel’s reputation spread even further, attracting dignitaries of the day — and the future. It served as the site of Richard and Pat Nixon’s wedding in 1940 and Ronald and Nancy Reagan’s honeymoon in 1952. But by the 1960s, it was much diminished, and a later owner, Benjamin Swig, had sold close to 1,000 antiques and artworks to help pay bills.
By the mid-1980s, the hotel had passed through a period of city ownership and was closed. By 1992, more than $50 million had been spent in restoration and renovation, but the project was scuttled by a bankruptcy. That’s when Duane Roberts, who grew up in Riverside and made his fortune selling flash-frozen burritos, bought the property and reopened it.
Duane and Kelly Roberts, residents of Laguna Beach, also established the hotel’s annual Festival of Lights, an Inland Empire holiday tradition. The hotel today includes 238 guest rooms, four restaurants, two lounges, two chapels, a spa, pool and candy shop.
Besides their stewardship of the hotel, Duane and Kelly Roberts became known as major donors to the Republican party. In 2017, Politico reported that Kelly Roberts was in line to be named the Trump administration’s ambassador to Slovenia, but turned down the post.
After Duane Roberts died at 88 in November, Riverside buzzed with questions over the fate of the hotel, prompting another Roberts family lawyer to offer public assurances.
“Nobody’s buying this hotel. Mrs. Roberts is keeping this hotel,” attorney Patrick O’Brien told a TV news crew in late November. But on May 4, Kelly Roberts and the San Manuel Investment Authority announced the pending sale.
Festival of Lights, Mission Inn’s popular holiday tradition, was created by Kelly and Duane Roberts after they reopened the hotel.
(Allen J. Schaben/Los Angeles Times)
Then on May 20, guests spotted workers removing the two paintings from the lobby area. Longtime hotel-watchers said other items had disappeared in recent years, including an 1876 Steinway piano; a statue of the goddess Pomona; William Wendt’s painting “Houses at Arch Beach”; Ilya Repin’s 1884 painting “Portrait of Madame K.”; and the hotel’s Taft Chair, a sturdy oak armchair commissioned by Frank Miller in 1909 to hold 335-pound President Taft. But the midday, presale removal of the Keith and Vereshchagin paintings prompted immediate outcry.
It was “traumatizing, seeing that stuff on display for so long and then seeing it come down,” said James Ranger, a veteran hotel tour guide and Mission Inn Foundation docent. After all the time and money the Roberts family invested in the property, “leaving on this note puts a sour taste out there,” he said.
The sale closed May 29. Though the Roberts family’s attorneys have insisted that the buyers and sellers are in accord, preservation advocates in Riverside have called for a review of documents associated with Roberts’ purchase of the property.
Meanwhile, the hotel’s new era as a tribal holding begins. Besides the two casino-hotels, the Yuhaaviatam of San Manuel Nation owns several other hotels, including the Waldorf Astoria Monarch Beach Resort & Club in Dana Point. As for the Mission Inn, the tribe has signed on Boston-based Pyramid Global Hospitality to take over management, and several changes are already evident.
Notably, the Roberts’ names have been dropped from the signage. Kelly’s Spa has become simply the spa, Duane’s Steakhouse is now just the steakhouse, and Casey’s Cupcakes, a hotel shop founded by Kelly’s daughter Casey Beau Brown, has closed. The Festival of Lights will continue, a spokesperson said.
Stolte said the Old Riverside Foundation believes the tribe will be “great stewards” for the Mission Inn.
“I wish that their welcome to Riverside was a little smoother,” he said.
Staff writer Alex Wigglesworth also contributed to this story.
The state of California is leading an effort to prepare a possible lawsuit that could thwart Paramount Skydance Corp.’s planned acquisition of Warner Bros. Discovery, a potential obstacle for the $111 billion deal.
The lawsuit, which could be filed as early as this month, would likely involve multiple states, according to a source familiar with the deliberations who was not authorized to comment publicly.
The litigation would seek to challenge the proposed merger on antitrust grounds, arguing it would thwart competition, lower wages and lead to widespread job losses.
“The Paramount acquisition of Warner Brothers remains an active investigation, and we do not have any updates to share at this time,” said California Atty. General Rob Bonta’s office in a statement.
In a statement, Paramount said it “will continue to fight against any attempt to derail a deal that plainly benefits consumers, creators and the industry as whole.”
“Opposing this deal means opposing expanded consumer choice, new opportunities for creators and workers, and greater competition throughout the creative ecosystem — the opposite of what antitrust law is meant to achieve,” the company added.
Under Paramount Chairman David Ellison’s proposal, Warner investors would receive $31 a share, nearly four times the price of the company’s stock in April 2025. He also said he will keep both studios’ release schedules of 15 movies a year for a total of 30 films a year.
Nonetheless, Ellison and his team have vowed to make $6 billion in cuts following the merger, which requires regulatory approval. The combined company would have to contend with $79 billion in deal debt.
The prospect of substantial job cuts during a period of downsizing in Hollywood has ignited widespread opposition to the sale.
Thousands of people who work in the TV and film industry, including actor Joaquin Phoenix and director-writer-producer JJ Abrams signed an open letter opposing Paramount’s planned acquisition of WBD, saying it would lead to fewer production jobs and fewer choices for consumers. Others have also raised concerns about the impact it could have on content.
“The consequences would be felt nationwide, from destroying CNN the way that Ellisons have devastated CBS to entertainment industry job losses and consumers losing access to independent voices and a competitive market,” said Norm Eisen, executive chair of Democracy Defenders Fund, one of the groups that organized the open letter. “State attorneys general have both the authority and the responsibility to act when a transaction of this scale directly threatens the public’s interest, and I hope states across the country will join any effort to challenge this deal,” Eisen said in a statement.
The potential lawsuit, first reported by Bloomberg and Reuters, is being considered by other states, including New York and Colorado.
“Paramount and Warner Bros. haven’t cleared regulatory scrutiny,” Bonta told The Times in March. “My office has an open investigation into [the deal] and we intend to be vigorous in our review.”
Despite the potential obstacle, Raymond James equity analysts said in a note on Thursday that they “still believe the deal is likely to close.”
Last month, Paramount hired antitrust attorney Jeffrey Kessler to defend its planned acquisition of Warner Bros. Discovery. Kessler recently led a case for state attorney generals against concert promoter and ticketing firm Live Nation, resulting in a win for states, including California.
“We also think there are win/win solutions to be had particularly in California given exodus of production from CA in recent years and efforts to bring production back to Hollywood,” the analyst said in their note.
Barrick Mining (B) is considering a possible London listing for its African business, potentially via an all-stock deal with U.K.-listed Endeavour Mining (EDVMF) as a possible option, Reuters reported Monday.
Under one scenario being explored, Barrick (B) would retain its
Parents who are wondering how to fill the six week holidays should take a look at this offer on Merlin passes, which not only offer unlimited park visits, but also other passholder perks
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Passholders can enjoy a year of thrill rides and family fun(Image: Merlin Entertainments)
Merlin has launched a summer sale that slashes the cost of annual passes and monthly memberships in time for the six-week school holidays.
The sale, launched today by the owner of a number of theme parks and attractions across the UK, means theme park fans can enjoy discounts on both Gold and Platinum passes, as well as monthly memberships, giving them unlimited access to over 20 UK attractions. These include Thorpe Park, Alton Towers, LEGOLAND, and Chessington.
Best of all, if you opt for a Gold membership at the discounted price of £16.99 a month, this works out cheaper than a monthly Netflix Premium subscription, which costs £18.99 a month. So, you can enjoy lots of days out with the kids and screen-free time over the summer without worrying about entry fees.
You can currently buy an annual pass at Gold or Platinum level with £50 off the total price. This brings Gold membership down from £239 to £189 a year, and Platinum down from £299 to £249. If you prefer to pay monthly, the sale has slashed Gold from £19.99 a month to £16.99, and Platinum from £24.99 to £20.99.
Gold memberships, whether annual or monthly, include 364 days’ entry to over 20 Merlin attractions, free parking, and 20% off food, drinks, and shopping. Platinum members get these perks with no exclusion dates, four bring-a-friend passes, a free one-shot Fastrack per visit, and other extras.
While it’s not included in the sale, there’s also the cheapest Merlin Essentials pass for £139 a year, which offers unlimited access for 339 days of the year. However, parents should note that exclusion dates include Saturdays in August, at the peak of the school holidays.
Merlin’s parks are set to be popular with families this summer thanks to the addition of some major new rides aimed at the younger crowd. The brand-new World of PAW Patrol at Chessington World of Adventures Resort opened in early May, and includes four pup-themed rides, play areas, and meet and greets. Over at Alton Towers, CBeebies Land also recently opened Bluey the Ride: Here Come The Grannies!, a must-visit for fans of the Heeler family.
In addition to its well-known theme parks, Merlin also operates a range of family-friendly attractions that make perfect school holiday days out. These include the London Eye, SEA LIFE centres, Madame Tussauds, and Cadbury World, meaning it’s easy to make the most out of your pass.
For comparison, booking a day ticket to Alton Towers starts at £34, so if you live near a Merlin theme park or visit a lot, you could soon get your money’s worth.
If you’re planning a one-off visit, then Cadbury is currently running a promotion on selected packs offering half-price tickets. Simply pick up an eligible product and visit fun.cadbury.co.uk to enter your barcode to receive a discount code and a link to book your tickets at 50% off.
The Merlin Pass Summer Sale ends June 28. For more information or to purchase, visit the Merlin website.
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As so many of Newcastle’s games have been this season, it looked like one-way traffic from their opponents from kick-off.
Making his first start at outside centre with Luke James unwell, Roebuck crossed with a minute on the clock, cutting inside from the left after a hand-off from Reed, with George Ford notching the extras.
Newcastle’s Simon Benitez-Cruz saw a try chalked-off for a forward pass before Seb Kelly barged over for his first Prem try at the other end on six minutes after a slick break down the left from Reed was stopped just short of the line.
The hosts got on the board on 10 minutes following a series of close-range drives with Christie diving under a pile of bodies to touch down on the whitewash.
O’Flaherty scored the third Sale try 15 minutes in after a basketball-style tip back from the touchline from Roebuck, with Ford notching the extras from out wide.
Joe Carpenter secured the bonus-point try inside 24 minutes after taking a short pass from Ford on the charge, with the England fly-half adding the extras.
The recalled Amanaki Mafi bulldozed down the blind side from a close-range scrum to reduce the arrears for Red Bulls as the heavens opened, though the conversion was missed once again and Sale added their fifth try through Alfie Longstaff after a rolling maul from a line-out, with Ford kicking his fifth conversion from the right.
Sale struggled to get going after the turnaround and the hosts made them pay as Hearle burst onto Harrison Obatoyinbo’s pass to plunge over by the posts, with Brett Connon slotting his first conversion to make it 35-17.
Lockwood picked up after Christian Wade was stopped a metre short of the line after gathering a long diagonal kick and dived into the corner and Ben Healy converted from the touchline to make it an 11-point game with 25 minutes remaining.
Roebuck thought he had picked up his second score after driving forward and then winning the race to Newcastle-bound Raffi Quirke’s grubber kick towards the line but it was ruled-out for a knock-on from O’Flaherty and the hosts then produced a defiant goalline stand to keep the Sharks at bay, with Roebuck held up on the line and then knocking on under the posts.
The waves of pressure continued and Reed eventually crossed after quick hands from Quirke, Ford and O’Flaherty, with Ford adding the conversion.
However Newcastle raced back and with 13 minutes remaining a brilliant flick from Healy sent Christie diving over for his second score in the right corner.
Healy turned provider once again on 72 minutes with a delayed pass to send Hearle over for his second to the right of the uprights and then notched the conversion to make it a four-point deficit.
After one win in 547 days the hosts were not going to settle for a close call and broke away from their own 22 after the clock ticked over to 80 minutes with Hearle on hand to collect a short pass and blaze away from halfway untouched to spark wild scenes in the final game of the season at Kingston Park.
Acting Navy Secretary Hung Cao’s remarks come as US President Donald Trump gives mixed signals on the sale.
Published On 22 May 202622 May 2026
A top United States military official has said Washington is pausing a $14bn arms sale to Taiwan to conserve munitions for its war on Iran.
Acting Navy Secretary Hung Cao provided the update to lawmakers during a Senate hearing on Thursday, a week after the weapons sale took centre stage in talks between US President Donald Trump and Chinese leader Xi Jinping in Beijing.
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“Right now, we’re doing a pause in order to make sure we have the munitions we need for Epic Fury – which we have plenty,” Cao told the Senate Appropriations Subcommittee on Defense.
“But we’re just making sure we have everything, but then the foreign military sales will continue when the administration deems necessary.”
Cao said any decision to move forward with the sale – which would be the largest ever weapons transfer to Taiwan – would be made by Secretary of Defense Pete Hegseth and Secretary of State Marco Rubio.
The war has been paused since the US and Iran agreed to a ceasefire on April 8, but the sides have yet to reach a permanent peace deal.
The US Congress approved the weapons package for Taiwan in January, but the sale requires Trump’s sign-off to move forward.
If approved, the sale would surpass a record-breaking $11bn arms package for Taiwan approved by Trump in December.
Taiwanese Premier Cho Jung-tai told reporters on Friday that Taiwan would continue to pursue arms purchases, according to Taiwanese news outlet FTV News.
William Yang, senior analyst for northeast Asia at the Crisis Group, said in a social media post that the pause will “exacerbate anxiety and scepticism about US support in Taiwan and make it difficult for the Taiwanese government to request additional defence budget for the foreseeable future”.
Trump, who has confirmed that he discussed the arms sale with Xi, said last week in an interview with Fox News that he “may” or “may not” approve the package.
Trump has also suggested that the package could be used as a “negotiating chip” – despite a decades-old precedent against consulting with Beijing on arms sales.
China claims self-governing Taiwan as part of its territory, and objects to Washington’s ongoing but unofficial support for Taipei.
The US government does not officially recognise Taiwan but is committed to helping the island to defend itself under the 1979 Taiwan Relations Act, enacted shortly after Washington severed diplomatic ties with Taipei.
Such a move would break with four decades of diplomatic protocol against direct talks with the Taiwanese leader and almost certainly provoke an angry response from Beijing.
Trump held a phone call with former Taiwanese President Tsai Ing-wen after his 2016 election win, but their talks took place before he was sworn in as president.
Taiwan stressed that it is a “sovereign and independent” nation after US President Donald Trump raised uncertainty over a major weapons sale to Taipei. The Chinese government pledged to deepen security cooperation with the US while insisting that Beijing has no right to claim the island.
US President Donald Trump said he discussed US arms sales to Taiwan with Chinese leader Xi Jinping during talks in Beijing. Trump also said he is considering lifting sanctions on Chinese companies that buy Iranian oil.
Save on a holiday to Cefalù Bay in Italy, where the outdoor pool comes with spectacular viewsCredit: Club Med
IF you haven’t booked your summer holiday abroad yet, now’s the perfect time — you can bag yourself a HUGE bargain in this holiday sale.
Club Med has launched its massive Flash Summer Sale, where you can save up to a whopping £600 per person on all-inclusive summer holidays.
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Club Med has launched a massive Summer Flash Sale where you can save up to £600ppCredit: Club Med
Save up to £600 per person in the Club Med Summer Sale
Not only can you bag massive savings, but if you’re going away as a family, you’ll be glad to know that kids under 6 stay free!
These holiday deals include your accommodation, meals, drinks activities and kids clubs all packaged neatly into one price, with no hidden costs.
These are some seriously premium holidays for bargain prices, with modern resorts in trendy destinations, gourmet dining and childcare all taken care of.
There’s a range of sun-soaked destinations to choose from, including long haul and short haul options, with travel dates stretching until November 2026.
But make sure to act fast – the flash sale ends on May 13.
Here’s a selection of top all-inclusive holiday deals you can snap up in the Club Med Summer Flash Sale.
Marbella, Spain
You could save big on a holiday to Marbella with Club MedCredit: Club Med
One option is the Club Med Magna Marbella, a Spanish sunshine resort set in twelve acres of lush green gardens.
This hidden slice of luxury sits at the base of a beautiful mountain, overlooking the sea and just a stone’s throw from the historic Old Town and glitzy Marbella.
This resort has its own lagoon pool with a beach club feel, plus grown-ups can enjoy the adults-only Zen Zone pool and juice bar whilst children up to age 17 are in the kids club.
Da Balaia, The Algarve, Portugal
Da Balaia in The Algarve has gorgeous beaches and vibrant golfing greensCredit: Not known, clear with picture desk
Whether it’s a couple’s retreat or a family getaway, you can fill your days with relaxing spa treatments or thrilling activities like water sports, sailing and tennis.
For something truly memorable, go horse riding along the beach at sunset.
Marrakech, Morocco
Save on a stay at Club Med Marrakech in MoroccoCredit: Club Med
Club Med Marrakech is a luxurious Moroccan stay with colourful courtyards and relaxing gardens to wander, with the vibrant souks of the city close by.
Practice your swing at the driving range or get stuck into a good book by the palm tree-dotted poolside, plus there’s childcare for children ranging from infants to teens.
Tuck into tajine, grilled meats and mezze at the traditional restaurant, and enjoy a Moroccan mint tea or something stronger at the rooftop bar.
There’s plenty more holiday destinations to browse in the sale, such as luxurious all-inclusive resorts on the Turkish Riviera, quiet Greek islands and coastal retreats in France.
There’s even savings for dreamy long-haul destinations like Cancun, Mauritius, the Maldives and Seychelles.
Just make sure to act fast and bag your bargain break before the sale ends on May 13.
If you’ve ever daydreamed about owning an item from Carrie Bradshaw’s closet or the writing desk where she penned her famous memoir, this L.A. event may be your golden ticket.
Julien’s is hosting an auction for “And Just Like That…,” the sequel to HBO’s groundbreaking series “Sex and the City” that took its final bow last year after three seasons. The auction features more than 500 lots of designer clothing, shoes, furnishings, kitschy keepsakes and props straight from the beloved show. Online bidding kicked off earlier this month and will conclude with a live, two-day event at the auction house’s Gardena location on Thursday and Friday. Participants can place bids both online and in person.
Given the popularity of the show, particularly the fashion, style expert George Kotsiopoulos says being able to own an item that your favorite character wore or had in their home is a rare opportunity.
“Even if you love something design wise, there’s an extra layer of ‘Well, that came from “And Just Like That…”’ or ‘That’s Carrie’s’ or ‘That’s Charlotte’s’ or ‘That’s Miranda‘s,’” adds Kotsiopoulos, a former co-host of “Fashion Police” and a style expert working with Julien’s on this sale.
While you won’t be able to snag a pair of Manolo Blahniks worn by Carrie Bradshaw (Sarah Jessica Parker) — Carrie’s clothing is sadly not for sale at this auction — you can purchase other items from her closet, including the round, vintage suitcases that held her elaborate hats, custom wooden hangers inscribed with her initials or even empty designer shoe and jewelry boxes.
Many items from Carrie’s collection are from the luxurious apartment she shared with her husband, Mr. Big. There’s the front door intercom panel, a pair of embossed leather club chairs and, fatefully, Mr Big’s Peloton water bottle. The memoir “Loved & Lost” that Carrie wrote about Mr. Big’s sudden death is also for sale, as is the manuscript. A small but poignant item: the condolence card sent to Carrie by Samantha Jones, her estranged friend played by Kim Cattrall, who made a brief but impactful appearance in the reboot.
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1.Shoes from Lisa Todd Wexley’s collection. 2.Carrie Bradshaw’s globetrotter luggage set, a vintage stool and steel writing desk. 3.Midcentury modern chairs and an upholstered cat pillow from Carrie Bradshaw’s Gramercy townhouse.
Fashion lovers will likely find satisfaction raiding the closets of OG characters Charlotte York-Goldenblatt (Kristin Davis) and Miranda Hobbes (Cynthia Nixon), along with newcomers Seema Patel (Sarita Choudhury) and Lisa Todd Wexley (Nicole Ari Parker). Notable items from their collections include Charlotte’s Prada coat from the Spring 2023 Menswear collection and Miranda’s vintage Issey Miyake coat. There’s also an authentic woven Intrecciato Bottega Veneta clutch that Miranda wore, Seema’s silk Fendi dress, the showstopping Balmain cape Lisa wore while trekking through the snow in New York City and an array of glamorous heels.
Catherine Williamson, managing director of Hollywood memorabilia for Julien’s, says it was important for the company to price items conservatively so many people, particularly fans who may have never bid before, would have a chance to buy something.
As of late last week, several items had highest bids under $100. Meanwhile, bigger ticket items like Marantino’s Louis Vuitton bags were bidding for $4,000, and the engraved Rolex watch — it’s a prop not a genuine Rolex — that Bradshaw gifted Mr. Big for their anniversary was going for $5,000.
How to participate in the auction
The “And Just Like That…” auction will take place over two days on April 30 and May 1 at the Julien’s location in Gardena. Participants can place bids both online and in person.
In honor of the late Willie Garson, who played Stanford Blatch on the series, Warner Bros. Discovery will make a one-time donation to You Gotta Believe, a New York City-based organization that specializes in finding permanent families for pre-teens and young adults in foster care. As a father of an adopted son, Garson, who died from pancreatic cancer in September 2021, was deeply connected to the organization.
I’d heard Arte Moreno had told people recently that he thought the Angels could command $4 billion. He might sell the team. He might not. But the figure seemed ambitious, since no major league team ever had sold for even $3 billion.
Until Friday, that is, when the Wall Street Journal first reported the San Diego Padres were about to be sold for $3.9 billion.
The new owners: a group led by Jose Feliciano of Santa Monica-based Clearlake Capital, which manages more than $90 billion in assets, and his wife, Kwanza Jones. In 2022, Feliciano and Dodgers co-owner Todd Boehly led the investment group that bought Chelsea of the Premier League for $5.2 billion.
The new money should enable the Padres to build upon the legacy of late owner Peter Seidler, who simply disregarded the fact that San Diego ranks as one of the smallest media markets in the major leagues. He spent to win, and the Padres have made the playoffs four times in the past six years — after making the playoffs five times in their first 51 years.
The fans rewarded him, packing Petco Park. As of Friday, the Padres had the second-best record and second-highest attendance in the major leagues. The Dodgers, of course, had the best record and the highest attendance.
The party most immediately interested in the Padres’ sale price? The players’ union, since Commissioner Rob Manfred has cited sluggish appreciation in sale prices as one reason to pursue cost controls on player salaries, whether through a salary cap or some other restriction. In recent years, the owners of the Angels, Minnesota Twins and Washington Nationals all have put their teams on the market without completing a sale.
But Moreno should be interested, too. He turns 80 this summer.
The comparison with the Padres only goes so far. In San Diego, in a city without a team in the NFL, NBA or NHL, the Padres are virtually unchallenged for dollars from fans and corporate sponsors.
And, in San Diego, the Padres play in Southern California’s best ballpark, one the team has turned into a year-round events center, with major concerts in the stadium itself and smaller ones within a delightful park beyond center field.
Could Moreno get $4 billion without a resolution to the long-running ballpark stalemate in Anaheim? It sounds borderline insane to consider that the only available team in America’s second-largest market might not be worth as much as the team that just sold in America’s 30th-largest market.
In Anaheim, however, two deals that would have anchored the Angels there for decades collapsed, and the 60-year-old stadium is in serious need of renovation or replacement. A buyer likely would have to account for the billion-dollar cost of a new ballpark and might ask for a credit against the purchase price, effectively lowering how much profit Moreno could make on the sale.
Any potential buyer should be keeping a close eye on a bill slowly winding its way through the state legislature this year. That bill, if enacted into law, would give the city the ability to loosen development restrictions on the stadium property for a team owner willing to call the team the Anaheim Angels.
Still, even without that legal assist, there should be no shortage of parties interested in acquiring two rarely available assets in one transaction: an MLB team in the Los Angeles market, and a 150-acre site perfect for the mixed-use development coveted by owners in every sport these days.
Golden State Warriors owner Joe Lacob, who once worked as a peanut vendor at Angel Stadium, lost out in the Padres’ bidding and could take another run at the Angels.
Rams owner Stan Kroenke, who lost out in the Dodgers’ bidding in 2012, surrounded the Rams’ Inglewood stadium and Woodland Hills training site with major development and could consider replicating those successes in Anaheim.
Ducks owner Henry Samueli has denied interest in the Angels, but he could consider extending and complementing his OC Vibe development across the 57 Freeway — and his hockey team already wears the Anaheim name.
That assumes, of course, that Moreno opts to sell. He enjoys owning a team and, in a season in which the Angels are one-half game out of first place entering Friday in what appears to be a weak American League West, there is no hurry.
It is considered more likely that Moreno waits until after a new collective bargaining agreement is reached next year to determine whether to sell. All I can tell you for sure Friday is what one baseball official texted me when I asked for reaction to the Padres’ sale: “Great news for the Angels.”
