Washington Commanders owner Dan Snyder has reached an agreement for the reported $6 billion sale of the Ashburn-based NFL team to a group led by Bethesda, Maryland-based billionaire Josh Harris.
News of the sale was posted on the team’s website and on Twitter Friday afternoon.
“We are very pleased to have reached an agreement for the sale of the Commanders franchise with Josh Harris, an area native, and his impressive group of partners,” Dan and Tanya Snyder said in a statement. “We look forward to the prompt completion of this transaction and to rooting for Josh and the team in the coming years.”
Harris co-founded Apollo Global Management and owns the NHL’s New Jersey Devils. He and a group including NBA legend Earvin “Magic” Johnson and Danaher Corp. co-founder Mitchell Rales reached an agreement April 13 for a record-breaking $6 billion sale of the team. Actual terms of the sale were not immediately released Friday afternoon.
Shortly before the team posted the statement to its own account, Johnson tweeted about his own excitement regarding the deal.
“I could not be more excited to be a partner in the proposed new ownership group for the Washington Commanders,” Johnson said in his tweet. “Josh Harris has assembled an amazing group who share a commitment to not only doing great things on the field but to making a real impact in the DMV community. I’m so excited to get to work on executing our vision for the Commanders and our loyal fanbase!”
Snyder, the team’s owner since 1999, and the team’s head office have come under scrutiny by the NFL and Congress for alleged sexual harassment and fostering a hostile work environment. His wife, Tanya, took over as co-CEO of the team in 2021, after the NFL’s $10 million fine of the team for an “improper” and “highly unprofessional” workplace culture. At the time, there seemed to be little appetite among team owners to force the Snyders to sell. According to NFL bylaws, it would take the agreement of 24 team owners to oust another owner.
But in November 2022, Dan and Tanya Snyder hired Bank of America Securities to consider potential sales, the Ashburn-based NFL team announced. Any sale would require approval of three-fourths of the 31 team owners. According to The New York Times, the Harris group must submit its proposal for approval to the NFL’s finance committee, followed by the entire group of owners, who are next set to meet May 22-23 in Minneapolis.
Harris and Rales’s investment group made a failed bid to buy the Denver Broncos last year. That team went to Walmart heir Rob Walton for $4.65 billion, setting a sales record for an NFL sports team.
Irish air carrier Ryanair plans to order as many as 300 Boeing 737 MAX-10 aircraft from Arlington County-based Fortune 100 contractor Boeing Co. in a $40 billion deal, the two companies announced Tuesday.
Subject to approval by Ryanair’s stockholders, the deal includes a firm order from the airline for 150 aircraft and an option for another 150 aircraft, with delivery to start in 2027 and continue through 2033, said Ryanair CEO Michael O’Leary. Each jet will have 228 seats — about 40 seats more than Ryanair’s previous fleet.
About 150 of the 737 MAX-10 jets will replace older jets in Ryanair’s fleet. The jets are expected to grow Ryanair’s passengers from 168 million passengers annually to more than 300 million annually by 2034, creating 10,000 jobs for pilots, cabin, crew and engineers across Europe in the next decade.
O’Leary said the aircraft use fuel efficient, greener technology, offer 21% more seats, burn 20% less fuel and are 50% quieter than older jets in its fleet.
The low-cost airline plans to use the new fleet to lower airfares in Europe over the next decade, he added, saying that Ryanair follows the model of Southwest Airlines, also a Boeing customer.
“The Boeing-Ryanair partnership is one of the most productive in commercial aviation history, enabling both companies to succeed and expand affordable travel to hundreds of millions of people,” Boeing President and CEO Dave Calhoun said in a statement. “Nearly a quarter century after our companies signed our first direct airplane purchase, this landmark deal will further strengthen our partnership. We are committed to delivering for Ryanair and helping the airline group achieve its goals.”
Boeing has received a number of large orders recently, many from the Pentagon.
In April, Boeing received a $313.4 million contract modification to upgrade and extend the service life of 25 Navy Super Hornet fighter jets, the Pentagon announced. In March, Boeing announced it would build 184 AH-64E Apache attack helicopters for the U.S. Army and international customers under a $1.9 billion contract modification announced by the Pentagon. In January, Boeing said it would help the Air Force expand its fleet of KC-46A Pegasus tanker aircraft under a $2.25 billion contract modification announced by the Pentagon.
Last November, Boeing announced a series of leadership changes and a reorganization to consolidate its eight divisions within its Boeing Defense, Space and Security unit into four as the company aimed to accelerate its operational discipline, quality and performance. That followed a report in October 2022 from Reuters that the company’s defense unit appointed a new chief operating officer to shore up money-losing defense programs as it dealt with delays and cost overruns on fixed-price contracts.
On the commercial airline front, Boeing has faced problems with its 737 Max, 787 Dreamliner and 767 jets in recent years. In April, The Wall Street Journal reported that Boeing paused delivery of some of its 737 Max jets because parts were installed wrong. That followed a halt in January of delivery of its troubled 787 Dreamliner over documentation issues. The program had previously been halted by U.S. regulators for nearly two years prior after problems surfaced with the aircraft, and the Federal Aviation Administration launched a review of its production in 2020, according to The Wall Street Journal.
Boeing is the world’s third largest defense contractor. In May 2022, the company moved its headquarters from Chicago to Arlington County. A month after announcing the move, the company and Virginia Tech announced a partnership to open the Boeing Center for Veteran Transition and Military Families at the university’s $1 billion Innovation Campus in Alexandria, which is expected to open in 2024. Support for the center comes from a record $50 million donation the company made to Tech in 2021 to support diversity at the graduate campus.
Reston-based Dev Technology Group will invest $366,000 to expand in Fairfax County, adding 90 jobs, Gov. Glenn Youngkin announced Monday.
The investment includes 10,000 square feet of additional office space. Founded in 1998, Dev Technology Group provides IT services to the federal government, including the Department of Homeland Security, the Commodity Futures Trading Commission, multiple defense agencies, the United States Geological Survey, the Consumer Financial Protection Bureau and others.
“Dev Technology Group is a Virginia success story that bolsters our booming IT industry while providing critical services for the government and 21st-century jobs for civilians and veterans,” Youngkin said in a statement. “We are proud to see a longstanding corporate partner benefit from the commonwealth’s diverse, world-class technology talent that catalyzes growth.”
The Virginia Economic Development Partnership worked with the Fairfax County Economic Development Authority to secure the project for Virginia and will support Dev Technology’s job creation through the Virginia Jobs Investment Program, which provides services and funding to companies creating jobs to support employee recruitment and training activities.
“As a federal contractor, Dev Technology has selected to continue its growth in Fairfax County due to the proximity of clients and access to highly skilled employees, including veterans,” Kendall Holbrook, CEO of Dev Technology, said in a statement. “In addition, Northern Virginia is a diverse and inclusive community that allows us to attract and retain people of all backgrounds, which ultimately makes our company stronger and more resilient.”
VCU Health paid nearly $73 million to back out of a $325 million development deal earlier this year, according to Dr. Marlon Levy, CEO of the health system and Virginia Commonwealth University’s interim senior vice president for health sciences.
The project, known as the Clay Street Project, included plans for a medical office tower and multiuse project in downtown Richmond at the site of Richmond city government’s former Public Safety Building at 10th and Clay streets.
In a statement, Levy said that the original plans were developed before the COVID-19 pandemic. In early 2021, the city approved the $3.5 million sale of the 3-acre property to Capital City Partners LLC and was referred to at the time by Mayor Levar Stoney as a “critical first step in reviving downtown.”
However, by late 2021, “construction and other challenges made it simply impossible to build the original project,” Levy said in a statement. “Moving forward today would cause dire long-term financial repercussions,” Levy added. “With that in mind, VCU Health was forced to make a difficult, but also prudent, decision to exit the original project.”
VCU Health was required to make the one-time payment to end its obligations on the site, and it was paid for using operating funds representing less than 2.5% of the organization’s annual operating budget. It also means “avoiding far greater financial obligations and problems in the future,” Levy said.
VCU is working with the state and city governments on new plans, which Levy said are “envisioned as a signature development for VCU and Richmond, with potentially a new facility for VCU’s School of Dentistry as the centerpiece.”
Layman Distributing, a woman-owned wholesale distributor of convenience and grocery store products, will invest $6.8 million to expand in Salem, adding 42 jobs, Gov. Glenn Youngkin announced Friday.
The company will relocate to a facility at 2157 Aspersion Drive, doubling its current square footage and operational capacity.
Founded in 1948, the company is currently located at 1630 West Main St., in Salem.
“Layman Distributing is a homegrown Virginia company that has found success for 75 years in the city of Salem, demonstrating the strength of the commonwealth’s strategic location, world-class infrastructure, robust workforce and innovative supply chain ecosystem,” Youngkin said in a statement. “The Roanoke region provides a convenient gateway to reach target customer markets, and this expansion will allow Layman to further extend its distribution reach. We look forward to a continued partnership with the company for years to come.”
Layman began its business distributing tobacco products and now offers more than 12,000 stock-keeping units of convenience and grocery store products to its customers, which include convenience stores, restaurants, universities, dining halls, vending services and independent grocers.
“This new facility will increase our efficiency so we can continue introducing new product lines, optimize inventory levels and provide new services,” W. Scott Thomasson, the company’s vice president of sales, purchasing and warehouse operations, said in a statement. “Additionally, this new facility will also give Layman the space to show off our new virtual convenience store and test kitchen. The Layman family and her employees have worked hard to realize this place in our history, and we can’t wait to enjoy a beautiful new home to showcase all we can do for our customers, employees and community. Our vision is to become the preeminent C-store and food distributor in the mid-Atlantic region, and now that vision has an opportunity to be realized.”
The Virginia Economic Development Partnership worked with the city of Salem and the Roanoke Regional Partnership to secure the project for Virginia and will support Layman Distributing’s job creation through the Virginia Jobs Investment Program, which provides services and funding to companies creating jobs in order to support employee recruitment and training activities.
Fernau LeBlanc Investment Partners has sold Wistar Center, a three-building flex industrial and retail portfolio, in Henrico County, to Prudent Growth Partners LLC for $7.25 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced.
The portfolio, at 8101-8157 Staples Mill Road, consists of approximately 49,092 total square feet, including a 20,436-square-foot Class A retail strip center and two flex industrial buildings totaling 28,656 square feet. Its 20 tenants include a diverse group of flex and retail occupiers, including health care, service retailers, commercial contractors and cybersecurity firms.
Prudent Growth Partners LLC acquired the property on April 27. Sale negotiations were handled by Bo McKown, Catharine Spangler, and Eric Robison of Cushman & Wakefield | Thalhimer’s Capital Markets Group.
Virginia Beach-based Divaris Real Estate announced Thursday that it is restructuring its top leadership amid growth following recent acquisitions and partnerships.
David Sutliff, who has worked as an adviser to the company for 12 years, is the new chief financial officer. Tony Divaris, who was previously the company’s international controller and CFO, has been promoted to chief operating officer, the company said in a news release.
Sutliff will guide the firm’s financial strategy and drive operational efficiency. He has previously worked at accounting firm KPMG and is a certified public accountant licensed in Virginia. He has a bachelor’s degree in business administration and accountancy and a master’s degree in accounting from East Carolina University.
In his new role, Tony Divaris will enhance company operations while implementing strategic changes to improve and complement the firm’s growth trajectory. He is the cousin of Gerald Divaris, chairman and CEO of the firm.
“With the addition of David Sutliff as our new CFO and the appointment of Tony Divaris as COO, we have assembled a talented executive team with diverse expertise, forward-thinking leadership and a shared commitment to driving company growth,” Divaris said in a statement. “Together, we will further the positioning of the Divaris Group as a national market and industry leader.”
The leadership restructuring comes as Divaris has grown through recent acquisitions and a partnership with KLNB that have added more than 200 employees to the company. In March, the company announced it acquired North Carolina-based McGarey Group, adding offices in that state, Maryland, Michigan and California.
The executive committee now includes Gerald Divaris as chairman and CEO, Michael Divaris as president and Gwen Gilbert as chief human resources officer, along with the addition of Sutliff and Tony Divaris.
Founded in 1974 in South Africa and headquartered in Virginia since 1981, Divaris Group is an international real estate services, brokerage and property management company that manages and/or leases more than 37.3 million square feet of office, retail and industrial space throughout the nation. Divaris Real Estate has offices in Virginia Beach, Newport News, Norfolk, Richmond and Roanoke, as well as in Charlotte and Raleigh, North Carolina, Beverly Hills, California, and Washington, D.C.
Carla Clarke credits Old Town Business (OTB) league with arranging events that bring new faces into Today’s Cargo, the jewelry and gift shop she co-owns on Alexandria’s King Street.
“It’s bringing new people through your door,” says Clarke.
The 40-year-old nonprofit business league champions Old Town’s business community through events like an annual cookie crawl. It has served as a liaison between local businesses — mostly small busineses — and the city. During the pandemic, it arranged vaccine clinics for local businesses.
Membership in OTB has grown from about 40 businesses in 2019 to about 160 today. Given its recent successes, OTB is seeking to become a business improvement service district (BISD).
The Old Town Business-Business Improvement Service District (OTB-BISD) would represent about 500 businesses along King Street, from the King Street Metro station to the Potomac River. Funded by a $0.10 service district tax levied per $100 of assessed valuation, the OTB-BISD would have a budget of nearly $1 million and be overseen by three employees and a board of directors. OTB currently has a board and CEO and a budget of about $150,000 but depends on volunteers, dues and donations.
“That’s not sustainable because we can’t count on those dollars,” says OTB board member Amy Rutherford, owner of two Old Town businesses, The Red Barn Mercantile and Penny Post.
In addition to taking over more than 20 annual events run by OTB, the district would create a unified brand, develop ambassador and business mentorship and networking opportunities, and advocate for district businesses.
To meet Alexandria City Council’s guidelines for establishing a BISD, which were enacted last year, OTB must get 60% of commercial property owners to approve a petition for the proposed designation, as well as City Council’s approval.
OTB has campaigned for support, holding listening tours and public hearings. By March 31, nearly two-thirds of the 60% of required property owners in the proposed district indicated approval of the petition, which is due to the City Council by May 31. If the OTB-BISD is not approved, OTB will be dissolved, Rutherford says, citing sustainability concerns.
Visit Alexandria, the city’s nonprofit tourism organization, supports OTB’s efforts. In a statement to Virginia Business, Visit Alexandria President and CEO Patricia Washington says the BISD “is critical for Alexandria to retain its current level of visitation that supports our local restaurants, shops and hotels.”
Madeline Davis has never set foot on a Navy submarine, so she doesn’t get to see the products she makes in action.
Davis is a CNC (computer numerical control) machinist at Fairlead Integrated in Portsmouth, where she makes metal parts for the Navy’s silent service. The defense contractor supplies shipboard integrated parts, including for the Navy’s Virginia- and Columbia-class nuclear submarines. Davis has worked in her position since May 2022, after she completed a 16-week CNC machining program that March at the Accelerated Training in Defense Manufacturing Program, a Navy-funded, three-year pilot program managed by the Institute for Advanced Learning and Research in her native Danville.
“It taught me exactly what I needed to know,” Davis, 22, says of her experience.
About 200 miles from the sea service’s largest base — Naval Station Norfolk — the program is helping transform Danville from a textile town into a critical player in national security.
ATDM, a public-private partnership between IALR, Danville Community College, the Navy, the Department of Defense and industry stakeholders, is seen as a crucial pipeline to train workers who will be essential to the nation’s defense, particularly in producing parts to repair, upfit, and build nuclear-powered nuclear-powered submarines, in coming decades. In addition to CNC manufacturing, ATDM offers four-month tracks in additive manufacturing, quality control inspection — also known as metrology — and welding. Nondestructive testing (a process by which a material is evaluated without causing damage) was added in January. With ATDM, the Navy is seeking to help meet workforce demands by condensing into four months what might otherwise take a year or two to learn.
The Navy’s nuclear submarine industrial base, which includes 17,000 suppliers and two main shipyards, including Newport News Shipbuilding, expects to need to hire as many as 100,000 workers in the next decade just to build new submarines, says Whitney Jones, who manages the program for Naval Sea Systems Command.
“That is just to build new construction submarines, not the rest of the Navy, not in-service sustaining and service platforms,” Jones says. “It’s a huge number. And when we looked at that number, we were like, OK, technology and the scale of technology is not a nice-to-have; it is an absolute imperative that we go do that.”
ATDM started training its first students in July 2021. As of May, it has produced 217 graduates, says director Debra Holley. Starting this year, it will ramp up to train 528 students, with a goal of graduating 800 to 1,000 students each year by fiscal 2025. For now, students attend the program without charge — though some may be sent by their employers for upskilling while being paid. They also receive free housing and transportation in Danville.
The program recruits nationally and, in addition to the general population, has recruiters who focus on transitioning military members and Afghan refugees who have evacuated to the United States, Holley says. About half of the participants, however, learned about the program through word of mouth, including Davis, who previously worked in retail. Another recent participant came from Texas, where she worked at a convenience store. “She heard about us … came up here, went through our program and then went to the Norfolk Naval Shipyard as a welder,” Holley says.
After applying online, applicants are interviewed and then reviewed by a committee, Holley says. While previous experience isn’t required, motivation is key, she says, adding that the program has recently received about three applications for every available slot.
Dropping anchor
ATDM, which currently has 25 staff members, including 10 instructors, announced plans in early March to fill an additional 38 positions, including 24 instructors, through late summer as it prepares for growth. It plans to hire even more support staff, including recruiters and employment outreach personnel, within the next year. Classes are currently held at IALR and have also previously been taught at DCC. The program is anticipated to move to a new, 100,000-square-foot facility in 2024. The $56 million ATDM Regional Training Center is being funded through a Navy partnership with the DoD’s Industrial Base Analysis and Sustainment program.
As of March, about 45 of ATDM’s 217 graduates have remained in Virginia for work, including some machinists and welders who have been hired by Newport News Shipbuilding, a division of Newport News-based Fortune 500 contractor Huntington Ingalls Industries Inc. The shipyard plans to fill 2,200 skilled trade positions this year and anticipates hiring as many as 19,000 more during the next decade, says shipyard spokesperson Todd Corillo. The nation’s largest builder of military ships is “committed to continuing our participation in future cohorts,” Corillo says, adding it encourages its suppliers in Southern Virginia to take advantage of the program for their hiring needs.
As ATDM grows, so too does another Navy investment in the region. In October 2022, the Navy opened its Additive Manufacturing Center of Excellence (AM CoE) within IALR’s Center for Manufacturing Advancement. That center, adjacent to the future Regional Training Center, is working with industry and academia to grow the Navy’s industrial supplier base by establishing production-ready manufacturing standards and qualifications for 3D-printed submarine parts.
The Navy sees 3D printing as a crucial technology, and it has been testing components for several years. During 2018 and 2019, a metal drain strainer produced by Newport News Shipbuilding was prototyped aboard the Norfolk-based aircraft carrier USS Harry S. Truman. The shipbuilder has subsequently been certified by the Navy to use some 3D-printed metal parts on carriers and submarines.
The Navy’s current supply chain can take as long as 18 months to come up with a crucial part, leading to delays in construction and repair, says Troy Simpson, a member of The Spectrum Group, which is working with ATDM and the AM CoE.
Simpson, who also formerly directed ATDM, says the AM CoE has the potential to turn Danville into the “Silicon Valley” of additive manufacturing.
Given the Navy’s needs and its investments in Danville, it appears to have dropped anchor in the region for the long term. Holley says the program is researching a tuition model if necessary. Jones says the Navy no longer sees the program as a pilot.
“I cannot overemphasize the importance of what we’re going to do down there … [for] national security,” Jones says.
Newport News-based Huntington Ingalls Industries Inc.’s Mission Technologies division has received a $995 million contract to advise and assist the U.S Air Forces in Europe-Air Forces Africa, the company announced Wednesday.
The indefinite delivery, indefinite quantity, multiple-award contract has a one-year base and four one-year option periods. Under the contract, HII’s McLean-based Mission Technologies will perform information analyses, evaluations, recommendations and training across the U.S. European Command and U.S. Africa Command areas of operation in support of policy development, decision-making, management, administration and systems operations.
“This award continues to expand HII’s support to USAFE-AFAFRICA in their role to deter aggression and deepen relationships with our allies and partners across Europe and Africa,” HII Mission Technologies President Andy Green said in a statement. “Our team brings extensive knowledge and expertise critical to this mission, and we are honored to be selected as one of USAFE-AFAFRICA’s industry partners.”
Wednesday’s award follows others HII has received in April, including a $1.3 billion contract to Mission Technologies to provide a large-scale network of medical, rotary and fixed-wing solutions to support U.S. African Command’s Warfighter Recovery Network.
U.S. Air Forces in Europe-Air Forces Africa is an Air Force major command and a component of EUCOM and AFRICOM. It is headquartered at Ramstein Air Base in Germany.
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