sol werdiger outerstuff net worth sol werdiger outerstuff net worth

We identified a great niche in kids. Sorry, something went wrong with the copy but here is the link for you. Find your market worth with a report tailored to you, No results found. Sign up for our Commercial Real Estate Report newsletterto receive the latest news, exclusives and analysis right in your inbox. "In this business, you make money slowly. The Company operates via exclusive contracts with the leagues to produce their branded youth apparel, which it sells through specialty sporting goods stores and leading general retailers. Das Naes Unidas 14401, Torre Hotel Chcara Santo Antnio So Paulo, BR-SP. Solil Management, a portmanteau of Sol and Lillian, still doesnt have a company website featuring trophy properties like most investors use, but a bit of digging - through the lawsuits detailing the family feud and hundreds of land records - shows that Sols heirs own at least 400 New York City properties including high-end apartments on the Upper East Side, the block of land in Midtown Manhattan that includes the Olympic Tower and the Cartier Mansion, and the landmark Peninsula Hotel. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. Sullivan & Cromwell served as legal advisor to Outerstuff during the transaction. Born to Holocaust survivors, Sol was raised to always push himself to grow closer to Hashem. "When we came together and became full-time here, we had a really good team and my kids over there. Sometimes Solomon goes by various nicknames including Sol Werdiger. Sol Werdiger of New York City was identified as being a 50 percent owner of an entity called GPC Adams LLC that stands to earn hundreds of millions of dollars in revenue in the long term under a . SBJ I Factor presented by Allied Sports features an interview with Navigate founder A.J. Child's play. This website uses cookies, including third-party cookies, in order to obtain information about your visit to the website and make this website better. ABOUT THIS EPISODE Sol (Shloime) Weridger runs one of the most interesting companies in the Jewish world. Ratings believes the company could default in the next 12 months, "especially if the new controlling owner, CEO Sol Werdiger, attempts to retire outstanding debt at a significant discount." The company says on its website that it has licenses to produce apparel with Major League Baseball, the National Football League, the National Hockey League and National Basketball Association, as well as Major League Soccer and the U.S. Olympic Committee. "About This Company" data & logos provided by. Outerstuff designs and produces childrens jerseys, t-shirts and other clothing items for the leading brands in American sports, including the NFL, MLB, NBA, NHL, MLS, US Olympic Committee, and more than 200 leading colleges and universities, as well as Adidas youth apparel. Jane oversees the daily operations of the real estate company her father built. Meet the dynamic, inspiring and successful executive mentors that want to enable you to live your best professional life possible. Contact info: swerdiger@outerstuff.com Find more info on AllPeople about Sol Werdiger and Outerstuff Ltd, as well as people who work for similar businesses nearby, colleagues for other branches, and more people with a similar name. 1K views, 7 likes, 1 loves, 2 comments, 9 shares, Facebook Watch Videos from Chabad of Bristol: Mr Sol Werdiger (CEO of Outerstuff and community activist) shares an amazing story how a simple. FORBES estimates are based on properties identified through public records searches and valuing the investments based on market rates and the net operating income reported by the city, which was $400 million in 2015. Longtime MLB jersey rights holder Majestic is up for sale by its parent, VF, and Werdiger said Outerstuff is aggressively going after the portion of VFs business sold through mid-tier and mass retail channels. Youngest daughter Jane, who oversees Solil's daily operations, is the only female billionaire running a real estate portfolio. "He knew in the long run he would own something with much greater value than what he paid for it. At the top of the licensed-sports apparel market, elite sports properties are selling deals based more on the value of TV exposure than on what their apparel rights are worth at retail. Active 2005 1 Chief Executive Officer Excel Known Addresses for Sol Werdiger. "Our partnership with Blackstone gives us the financial resources and expertise we need to realize that vision. Sol Werdiger is a visionary entrepreneur who has built Outerstuff into a unique and important strategic partner to sports leagues and sports apparel companies alike, said Peter Wallace, a Senior Managing Director with Blackstones Private Equity business. Blackstone was advised by Wells Fargo Securities and Simpson Thacher & Bartlett LLP. See the full leadership team at Craft. Use our tool to get a personalized report on your market worth. If and when the top athletic footwear brands no longer find value in that arrangement, Outerstuff is their logical successor. 2023 Leaders Group. Staying current is easy with Crains news delivered straight to your inbox. Photo Courtesy of the Goldman Family. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. He addedthe Chrysler Building in 1960. After his death, his estranged wife Lillian, and later Lillian and her. Switchboard: +1 (212) 583-5000. Maryland (www.meormd.org), a In reality, solpuga is a genus of arachnids from the order of solifugae, which might suggest that the solpuga from Andrzej Sapkowski's novels is an arachnid as well. sports leagues in the United States. Its advocacy includes education and social services, and has been active in securing public funding for religious schools, according to a 2017 Washington Post story. content Earlier this summer, the Michigan Strategic Fund approved $16.7 million in brownfield financing for the project, which has a budget of $132.6 million. NEW YORK, NEW YORK May 27, 2014 Outerstuff, Ltd., (Outerstuff or the Company) the leading designer, manufacturer and marketer of licensed childrens sports apparel for all of the major sports leagues in North America, today announced that it has closed an investment from private equity funds affiliated with Blackstone (NYSE: BX) (Blackstone). According to Ratings, Outerstuff also renegotiated terms of its licenses with "most major sports leagues," significantly reducing minimum guaranteed royalties. Other issues are most likely to come up, and any issue that comes up that's connected to this company apply.". Once Sol was fully on his own, he decided to eschew debt; he paid all cash for most of the land he bought. "He takes great. "We've been dealing with this, I would say, obvious and visible relationship since we chose specifically, I chose that location," Shafer said last week. Childs play. You may opt-out by. Sol also rarely sold. Blackstone will invest alongside founder and CEO Sol Werdiger, who will roll over equity in the transaction, and Blackstone will share equal economics and governance with the current shareholders. in clinical psychology. Born to Holocaust survivors, Sol was raised to always push himself to grow closer to Hashem. . He did not elaborate on what other properties were considered or what its requirements were. Powered by: AMR Pharmacy and DailyGiving.org. Number of Founded Organizations 1. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazines awards, such as Forty Under 40, Game Changers and others. "It looks like they went through the property analysis and proper steps.". Werdiger, an Orthodox Jew and CEO of Outerstuff, received a phone call from Mr. Oh Joon, asking to meet him for lunch at a kosher restaurant in Manhattan. Already a subscriber? SBJ Spotlight: Rich McKay of AMB Sports and Entertainment, Anquan Boldin on how the Players Coalition continues to fight for social justice, Jalen Rose on being a business-minded athlete, and why NIL is good for college players, Bill Simmons on the creation of ESPNs 30 for 30 documentaries. +1 (212) 390-2250[emailprotected]. Its a blip on the whole picture of who my father was and the things he accomplished. It was her last public interview, and she and the rest of her siblings declined to be interviewed for this story. The company's senior secured term loan was raised as well, to CCC, from SD. When Lillian died in 2002, her estate (including cash and properties worth $374 million) was divided nearly equally among her children, according to court documents obtained by FORBES. It is now owned and run by his children, Torgow told Crain's. Blackstone Jew, focused very much on the themes of integrity and Jewish Our partnership with Blackstone gives us the financial resources and expertise we need to realize that vision. Both Solil and cousin Lloyd Goldman's BLDG Management each also have a 16.67% stake in the World Trade Center projects reinvigorating downtown Manhattan. Outerstuff started in 1983 as a manufacturer of childrens outerwear. We have 600,000 SKUs in our NFL business alone, said Werdiger, with a tone of disbelief at the statement. A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college. Why do people leave their jobs? I lead Forbes coverage of food and agriculture. (Photo courtesy of the Goldman family), portfolios. Outerstuff is a leading designer and manufacturer of branded youth apparel for the major sports leagues in North America as well as Adidas and more than 200 leading colleges and universities. During the devastating downturn, Sol and Alex had to dump nearly 40% of their propertiesto pay off debtors. Outerstuff is also looking to complement its strength in licensed sports apparel with a branded play. 1412 Broadway #18, New York, NY 10018 View Sol Werdiger's profile for company associations, background information, and partnerships. A year later, the legendary investor said "Every time I sell, I'm sorry.". The company entered into a forbearance agreement in April with its term loan and asset-based loan facility lenders that extended their payment deadline to, at first, May 31. Headquartered in New York, New York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to be CEO today, and has built a market-leading position by delivering high quality products and sales performance to its league and apparel partners. What your skills are worth in the job market is constantly changing. Headquartered in New York, New York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to be CEO today, and has built a market-leading position by delivering high quality products and sales performance to its league and apparel partners. The other is servicing retailers by building scale and providing the level of service any big league needs. "At Outerstuff, our vision is to become the preeminent global provider of apparel serving our sports league and brand partners," said Sol Werdiger, Outerstuff founder and chief executive. Outerstuff designs, makes and markets licensed children's sports apparel for major sports leagues in North America, including the NFL, MLB, NBA, NHL and MLS. New York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to be CEO today, and has built a market-leading position by delivering high . Solpuga, also called a venomer, is a creature that spits highly caustic lye. Sol Werdiger Meaningful People. Sol Werdiger was the Founder & CEO at Outerstuff. (Photo courtesy of the Goldman family). However, new office construction asking rates are considerably higher, with Dan Gilbert's and the Ilitch family's new office space asking for rents in the high $30s to low $40s per square foot, sources have previously said. Portions of this site are directed only to persons in certain jurisdictions. Werdiger's business is likewise booming. 4 Weeks. interesting and inspiring Jewish men and women making a difference website at www.meor.org. League deals are getting very costly and we dont sell shoes, so we have to make money serving the apparel market, said Werdiger, one of the few licensed product companies to sell through all classes of retail distribution. "At Outerstuff, our vision is to become the preeminent global provider of apparel serving our sports league and brand partners," said Sol Werdiger, Outerstuff founder and chief executive officer. 1412 BROADWAY FL 18 NEW YORK, NY 10018 Get Directions. But it's their plans to transform a parking garage in Tribeca into mixed residential and retail high-rise, as Solil's first-ever sole development, that will make others take notice. Pay, Whether you are hiring a single employee , or an entire department of, The labor market is a strange place right now. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. He and his partner Alex DiLorenzo borrowed heavily to build up their portfolio, only to see it all come falling down in the 1973-1974 real estate crash. Standard & Poors upgraded the debt ratings of U.S. youth licensed sports apparel maker Outerstuff LLC as the company recently reached an agreement with its lenders to extend its term loan maturity to December 2023 and paid its lenders the principal and interest it missed in March, June, and September 2020. The vagaries of fusion technology or keeping up with Moores Law? He reports that Outerstuff has "600,000 SKUs in our NFL business alone. Maestas, a member of Sports Business Journals Forty Under 40 class of 2015. Allan Goldman, co-chair of Solil Management, pictured more than a decade ago with a young Steven [+] Gurney-Goldman, who is now working at Solil and will one day take over his father's position. New research on who's asking for raises and who's getting them as well as advice on how to ensure you're getting the salary you deserve. Sports Business Daily in 2016 reported that Outerstuff has 350 employees and was founded in 1983. Is this your business? Sol appeared on the first Forbes 400 list of Richest Americans in 1982, with a net worth estimated at $200 million. The company also produces items for the U.S. Olympic Committee and more than 200 colleges and universities, and Adidas youth apparel. New research shows how to set pay for remote employees. A close friend of the executive chairman of the new TCF Bank is the other owner of a limited liability company that is developing and will own the Detroit-based bank's new headquarters downtown. Jane Goldman, acting chair of Solil Management, pictured with her son, Michael, who is being prepped [+] to one day take over the company with his cousin. He has formed life-long relationships with some of the world's biggest Rebbas and Gidolim. Still, renting and ground leases will continue to be Solil's core, says Michael Goldman, Janes son. Within a few years, it was making licensed jackets as a supplier for Starter, a pioneer in the 1980s and 1990s licensing boom. The deal has drawn attention because of the relationship between Gary Torgow, who was chairman of Chemical Bank before its merger with TCF Bank, and the group that will be the new TCF Bank's landlord. Outerstuff has established itself as an industry leader in the branded youth apparel market by leveraging its in-house design team, low-cost manufacturing, sophisticated demand-planning methodology and long-standing relationships with the leagues, brands, and retailers. Forbes untangled the story from thousands of legal documents packed in boxes pulled from the court archive. 1987. But each is Sol Goldman, with his youngest daughter, Jane, in an undated photo taken before Sol passed away in [+] 1987. Learn from Jewish. There are 7 other people named Sol Werdiger on AllPeople. We believe in the long term strength of the New York City real estate market and think that if we manage our holdings patiently without taking on excess risk and leverage we should be able to weather many of the challenges that we are sure to encounter as we grow with the company, Steven Gurney-Goldman, Allan's son, told FORBES recently. E-mail us at JewsYouShouldKnow@gmail.com. He embodies . We are excited to partner with Sol and his outstanding management team and we look forward to supporting Outerstuffs continued growth and expansion.. The estate soon went to New Yorks surrogate's court as Sols estranged wife fought with her four kids over what to do with the massive portfolio. The Company operates via exclusive contracts with the leagues to produce their branded youth apparel, which it sells through specialty sporting goods stores, and leading general retailers. But Ratings added that a return to "a more normal sports environment" in 2022 could allow the company to take advantage of its pandemic-driven cost-cutting measures and "generate materially positive free cash flow" by then. Solomon has many family members and associates who include Rony Majer, Michael Roscetti, David Cooperstock, Casey Majer and Rene Majer. Jews You Should Know introduces the broader community to Award-winning original reporting, with in-depth profiles, timely research and expert opinions on the biggest issues and stories in sports business. Chairman Gary Torgow's five adult children Elie Torgow, Yoni Torgow, Rachel Torgow Krakauer, Moshe Torgow and Jacob Torgow are the other 50 percent owners of GPC Adams through an entity they own called Park Elizabeth Associates LLC, which is a member of GPC Adams, according to filings with the U.S. Securities and Exchange Commission. As an umbrella to all of this, the Werdiger Family Foundation was set up to direct charitable monies to various philanthropic organizations by Sol Werdiger. Subscribe. Outerstuff's annual revenues are $100-$500 million (see exact revenue data) and has 100-500 employees. Once New Yorks biggest landlord, Sol Goldmans legacy lives on. values. [Fanatics] can max out e-commerce; well be happy to be the sports licensee thats maxing out the brick-and-mortar licensed sports apparel business., Tony Petitti era begins at Big Ten; Can the Senators really land a $1B deal? Annual 2 percent rent increases are built in to the lease and, for the full 22 1/2 years, GPC Adams is set to earn $232.65 million, split 50-50 between Park Elizabeth Associates and Werdiger's ownership entity. All rights reserved.The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group. They attempted to reconcile and in 1984 they signed a formal agreement, which won Lillian 33% of his estate. Solil and BLDG both also have some properties outside the New York area. GPC Adams is an affiliate of Sterling Group, the Detroit-based real estate company that Gary Torgow started in the 1980s. At any given moment, we carry 4 or 5 million blanks [apparel without printing], and last year, we brought in and shipped more than 38 million garments., KEY LICENSES: For press inquiries, contact [emailprotected]. Diane, 70, headed the residential leasing department for several decades, when she scaled back also due to health issues several years ago. The latest personnel hires and promotions, plus exclusive ratings and research from the sports industry. They've already added a millennial perspective, and have started work on Solil's first website. Since joining Crain's Detroit Business in 2013, he has written about leasing, development and property sales in Detroit and its suburbs, as well as the industry's trends, personalities and quirks. Amy, 62, had worked at the office as well, before earning a P.h.D. Whether he's attending the latest super bowl, facilitating the Siyum Hashas in MetLife stadium, or dealing with his staff - he is always focused on making a kiddush Hashem.Powered by:AMR Pharmacy - https://bit.ly/AMRphaDailyGiving.org - https://bit.ly/DailyGiSubscribe to our Podcast!Apple Podcasts: https://apple.co/2WALuE2Google Podcasts: https://bit.ly/MPPGooglePodcastsSpotify: https://spoti.fi/39bNGnOStitcher:https://bit.ly/MPPStitcherOr wherever Podcasts are available!Follow us on Instagram:https://instagram.com/meaningfulpeoplepodcastLike us on Facebook:https://bit.ly/MPPonFBFollow us on Twitter:https://twitter.com/MeaningfuPplPodFor more info and upcoming new check out:https://MeaningfulPeoplePodcast.com#jew #jewish #podcast #frum #rabbi #frumpodcast #meaningfulpeople #torah #mitzvah #hashem #thankyouhashem #jewishsinger #jewishsingers #jewishmusic #jewishpodcast #israel #solwerdiger #outerstuff #agudah #theagudah #AgudathIsraelofAmerica A court-ordered appraisal pegged the estate as being worth $760 million in 1991. * Please fill out the form below in order to receive your shareable link. Please visit www.JewsYouShouldKnow.com, follow us on Twitter February 10, 2022 Sol Werdiger, founder and CEO of the youth sports apparel manufacturer Outerstuff, has attended every Super Bowl game for more than two decades. Outerstuff has established itself as an industry leader in the branded youth apparel market by leveraging its in-house design team, low-cost manufacturing, sophisticated demand-planning. It's an important job and a serious undertaking with great challenges and even greater rewards when things work out right. Otherwise, we will assume you're OK to continue. He is also a deeply committed Total number of Crunchbase contacts associated with this organization, Total number of employee profiles an organization has on Crunchbase, Total number of investment firms and individual investors, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. Technology Sofia Gross Public policy manager at Snapchat. Werdiger thinks it could be a $30 million wholesale business in its initial year and says hell do whatever we can to get that brand on the field again.. Corporate governance and real estate experts say the company appears to have followed rules for disclosure and vetting such transactions and the lease seems to be a fair deal. KEY RETAILERS: CEO of Outerstuff. sportswear - jerseys, youth-wear and more - for most of the major It projects debt-to-EBITDA will be around 8x in 2021, while expecting the company to run free cash flow negative as it rebuilds inventory. Click below to see everything we have to offer. (212) 594-9700. www.outerstuff.com. Outerstuff LLC was upgraded today by S&P Global Ratings to CCC and a negative outlook, from Selective Default, or SD, after term loan lenders agreed, in October, to stretch their maturity out to December 2023, and the company paid their back-due interest and principal. (Photo courtesy of the Goldman family), This story appears in the July 26, 2016 issue of Forbes. "It is readily apparent that this lease was fully vetted and negotiated in good faith between the respective parties," said Munaco, president of Southfield-based brokerage firm Advocate Commercial Real Estate Advisors of Michigan LLC. In spite of the expected earnings improvement from the renegotiated contracts, Ratings believes Outerstuff's liquidity will be "less than adequate" over the coming year. The main point is not to sell anything," Sol told FORBES in 1985, when his net worth was estimated at $450 million. But each is a Jew You Should Know. premier Jewish outreach and educational organization. Why change when Sol's legendary framework has gotten them to their agile position today? Rare insight into WNBA revenue and PLL adds Mike Levine to BOD. Outerstuff also renegotiated the terms . All rights reserved. Headquartered in New York, New York, Outerstuff was founded in 1983 by Sol Werdiger, who continues to be CEO today, and has built a market-leading position by delivering high quality products and sales performance to its league and apparel partners. The total rent for a 50-year lease with the four seven-year options exercised is not known; rent in those four terms would be set at 95 percent of the fair market rent at the time. (Photo courtesy of the Goldman family). In June, it wouldn't specifically say why tax incentives were sought but noted that many of Detroit's largest development projects have public financing. Photo Courtesy of the Goldman Family. They have complete ownership of it. Copyright 2023 Apple Inc. All rights reserved. After his death, his estranged wife Lillian, and later Lillian and her children together, appeared on The Forbes 400 list until 1996. It is owned by GPC Adams LLC; city land records say the two properties that comprise the site 2047 Woodward Ave. and 25 W. Elizabeth St. were last sold in 2013 for $4.25 million. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. Through his interface with commissioners, franchise owners Torgow and Werdiger are active with Agudath Israel of America, which describes itself as a "diverse cross section of leading Orthodox rabbis, activists, philanthropists and everyday community members." The Solil portfolio, which has largely remained in tact, is now worth 16-times more. We have lots of information about Solomon: religious views are listed as Christian, ethnicity is Caucasian, and political affiliation is currently a registered Democrat. One is like renting billboards. Under terms of the lease, GPC Adams is to collect $35 per square foot for the building's 199,370 square feet of office space, $50 for each of the 3,801 square feet of retail and $300 for each of the 311 parking spots, making a 2022 first-year rent collection of about $8.29 million if the entire building is leased. https://www.sportsbusinessjournal.com/Journal/Issues/2016/07/11/Marketing-and-Sponsorship/Company-Watch-Outerstuff.aspx. However, if it simply increased at a 2 percent rate every year for the 50 years, the total rent would be $712.1 million, Crain's calculated. Cindy Schipani, the Merwin H. Waterman Collegiate Professor of Business Administration and a professor of business law in the Stephen M. Ross School of Business at the University of Michigan, also said the lease and development deal seems to have been appropriately reviewed and approved. That would allow Outerstuff the rights to make and sell sports apparel through these mass merchandise and big box stores. For additional information on Outerstuff, visit www.outerstuff.com. Although Sol did not know the purpose of the meeting he agreed to meet with Mr. Joon. Like Outerstuff Ltd., countless American employers sponsor health coverage for their employees, through which a significant percentage of each worker's health insurance Read more, Streamlined solutions for every step of the compensation management journey, Continuously updated compensation datasets from Payscale and our partners, Flexible, customizable services and support for Payscale customers, End comp guesswork with our free job-pricing tool, From collection to validation, our data methodology delivers certainty, Meet the leaders dedicated to empowering better conversations around pay, Track and compare wage-growth by city, industry, company size, and job category, Access helpful tools and insights for career planning and salary negotiation, Explore real-world career trends and advice from the leaders in compensation, Uncover detailed salary data for specific jobs, employers, schools, and more, Take our salary survey to see what you should be earning. He has attended every championship game of the National Football League for more than two decades, always using the occasion to connect with local Jewish community members. Transform pay with our enterprise-grade comp platform, Automate compensation with our full-suite solution, Payscale's employer-reported salary data network, The world`s largest employee-submitted pay database, Annual survey salary data from HR industry publishers, The crowdsourced compensation data API for developers, 100% company submitted data from 2,000+ businesses, Schedule a personalized demo to feel the power of Payscale, Find salary information for similar job titles and locations, Comp Planning Business Case Pitch Deck By clicking Download Pitch Deck, you. 4 Impactful Programs. Outerstuff is a leading designer and manufacturer of branded youth apparel for the major sports leagues in North America as well as Adidas and more than 200 leading colleges and universities. Photo Courtesy of the Goldman Family. March 11, 2021. I am extremely excited about working with Blackstone as we begin the next chapter of our growth story.. Want to support this podcast? For office-specific contact information, please visitour offices page. Regions Greater New York Area, East Coast, Northeastern US. As of this date, Solomon is married. "As an operator, Elie faces all challenges head-on and takes his fiduciary responsibility very seriously," said Outerstuff LLC CEO Sol Werdiger, who has invested with Rieder. /marketintelligence/en/news-insights/latest-news-headlines/outerstuff-upgraded-by-s-p-global-ratings-to-ccc-on-deal-with-lenders-61648669