sol werdiger outerstuff net worth

To become the preeminent global provider of apparel serving our sports league and brand partners, said sol Werdiger, Outerstuff founder and chief executive officer. Please visit www.JewsYouShouldKnow.com, follow us on Twitter Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. 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. 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." 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. Ratings also noted the challenges of the pandemic, including the uncertainty of when fans will return to sporting events. 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. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. Have feedback for the show, or suggestions for future guests? March 11, 2021. That is still true today: Solil currently has debt-to-equity estimated at an unusually low 3%. GPC Adams is an affiliate of Sterling Group, the Detroit-based real estate company that Gary Torgow started in the 1980s. Werdiger's business is likewise booming. Turns out, he was right., This is a BETA experience. Sol (Shloime) Weridger runs one of the most interesting Amy, 62, had worked at the office as well, before earning a P.h.D. We are excited to partner with Sol and his outstanding management team and we look forward to supporting Outerstuffs continued growth and expansion.. Award-winning original reporting, with in-depth profiles, timely research and expert opinions on the biggest issues and stories in sports business. Blackstone is one of the worlds leading investment and advisory firms. Outerstuff's Executive Vice-President is Stephen Werdiger. Find your market worth with a report tailored to you, No results found. The project is set to be more than 1.1 million square feet covering 87 acres of the former home of the Detroit Pistons. A message left with Werdiger, the founder and CEO of New York City-based children's sportswear maker Outerstuff LLC, was not returned last week. "They determined that this was the best deal for the company and that they shouldn't not go forward just because of the conflict," Schipani said. "When we came together and became full-time here, we had a really good team and my kids over there. Shafer said he, not Torgow, was responsible for selecting the site where the new headquarters will be built. Read reviews from current employees that include compensation and culture insights. Or go downtown to the courtroom and dig through thousands of pages of legal documents detailing the bitter battle between his wife, Lillian, and their four children over Sols estate after his 1987 death. Active, Closed, Last funding round type (e.g. Crain's Senior Editor Chad Livengood contributed to this report. If and when the top athletic footwear brands no longer find value in that arrangement, Outerstuff is their logical successor. Mr. Werdiger is the CEO of the wildly popular sportswear line, OuterStuff, but that's just the tip of the iceberg. 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. sportswear - jerseys, youth-wear and more - for most of the major Blackstone Photo Courtesy of the Goldman Family. Matthew Kassel. There are 7 other people named Sol Werdiger on AllPeople. Kirk Pinho is a senior reporter covering commercial real estate. Solil hasworked with billionaire Jeff Sutton, who has a 49-year lease on Solil land for a Harlem loft with development potential, and Extells Gary Barnett, who is behind the high-rise, One57, home to billionaires including Bill Ackman. /marketintelligence/en/news-insights/latest-news-headlines/outerstuff-upgraded-by-s-p-global-ratings-to-ccc-on-deal-with-lenders-61648669 Daily updates aggregating the stories and spin from more than 600 outlets across the globe. (212) 594-9700. www.outerstuff.com. Other executives include Laura Peticca, Human Resource Manager; Bob Saunders, Vicepresident and 1 others. Childs play. "Somebody I'm certain our developer is very proud to be associated with as an investor.". Blackstone also provides various financial advisory services, including financial and strategic advisory, restructuring and reorganization advisory and fund placement services. Outerstuff is a leading provider of sportswear - jerseys, youth-wear and more - for most of the major sports leagues in the United States. I have no ownership in the (headquarters) building, no ownership in the company, and they're actually doing a pretty good job without me.". Before you decide whether variable pay is right for your org, get a deeper understanding of the variable pay options and the cultural impact of pay choices. 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. Almost any sports specialty, mass merch or sporting goods store. They've already added a millennial perspective, and have started work on Solil's first website. 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. +1 (212) 390-2250[emailprotected]. The sports apparel entrepreneur is a gifted raconteur known for his colorful Super Bowl stories. That would allow Outerstuff the rights to make and sell sports apparel through these mass merchandise and big box stores. Outerstuff has already signed two soccer pros to back Umbros relaunch: Mix Diskerud of the MLS NYCFC and the NWSL Washington Spirits Cheyna Williams. 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. https://www.sportsbusinessjournal.com/Journal/Issues/2016/07/11/Marketing-and-Sponsorship/Company-Watch-Outerstuff.aspx. 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. Powered by: AMR Pharmacy and DailyGiving.org. Within a few years, it was making licensed jackets as a supplier for Starter, a pioneer in the 1980s and 1990s licensing boom. "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. 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. 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. The company's senior secured term loan was raised as well, to CCC, from SD. Active 2005 1 Chief Executive Officer Excel Known Addresses for Sol Werdiger. Sign up for our Commercial Real Estate Report newsletterto receive the latest news, exclusives and analysis right in your inbox. SBJ I Factor presented by Allied Sports features an interview with Navigate founder A.J. (Annual sales and employees) Visit Patreon.com/JewsYouShouldKnow. "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. A glimpse into the lives of the richest, most prolific families in America, and how they builtand sustainedtheir empires. 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. Jane and Allans sons are being prepped to one day take over. To view recent press releases, click here. Jew, focused very much on the themes of integrity and Jewish CEO of Outerstuff. We identified a great niche in kids. You may opt-out by. 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: * Please fill out the form below in order to receive your shareable link. "About This Company" data & logos provided by. 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 . After his death, his estranged wife Lillian, and later Lillian and her. All rights reserved. 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. 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. "He takes great. The main point is not to sell anything," Sol told FORBES in 1985, Americas Richest Families: An eBook From Forbes. A year later, the legendary investor said "Every time I sell, I'm sorry.". Outerstuff started in 1983 as a manufacturer of childrens outerwear. 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. Episode 085 - The Outerstuff CEO: A Conversation with Sol Werdiger. We take a deep dive into what's impacting employee retention and what employees are looking for in their new role. For press inquiries, contact [emailprotected]. During the devastating downturn, Sol and Alex had to dump nearly 40% of their propertiesto pay off debtors. He addedthe Chrysler Building in 1960. About Outerstuff Address: New York, New York Website: http://www.outerstuff.com/ Industries: Sporting Goods, Manufacturing Founded on: January 1st, 1983 Number of Employees: 501 - 1,000 "About. As of this date, Solomon is married. Some of Outerstuffs collegiate rights also include adult togs. 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. What is Solomon Werdiger's current address? Click below to sign in. for his invaluable production assistance. [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? Whenever my grandfather was asked how he acquired so many buildings, he would simply say, I paid the most. If he believed in an area, he was not afraid to pay more than everyone else," Michael told FORBES. 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. Seed, Series A, Private Equity), Whether an Organization is for profit or non-profit, General contact email for the organization, Leading designer and manufacturer of branded youth apparel, Edit Lists Featuring This Company Section, Misfits deal with clothing maker Outerstuff isnt just about its esports teams, Northeastern US Companies With Less Than $500M in Revenue (Top 10K), Northeastern US Manufacturing Companies (Top 10K), East Coast Companies With More Than 500 Employees (Top 10K), Northeastern US Companies With More Than 50 Employees (Top 10K). Check Background Get Contact Info This Is Me - Edit Reputation & Background View All Public Private (Photo courtesy of the Goldman family). Found 13 colleagues at Outerstuff Ltd. "We worked with our board and our audit committee to make sure that every aspect of the relationships that are associated with this are well-known, well-documented and highly visible to the governance process of our publicly traded company and our regulated company. We have 600,000 SKUs in our NFL business alone, said Werdiger, with a tone of disbelief at the statement. 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. 4 Impactful Programs. Outerstuff is a leading provider of In the past five years, Solils deal-making has increased, and it has inked some of its more prominent land lease projects, in which the ground beneath a building is leased rather than sold to the structures developer. From the heart of New York Citys Garment District, Werdiger passionately cites statistics supporting his contention that the sports licensed apparel business is more intricate and demanding than building the next million-dollar app. Once New Yorks biggest landlord, Sol Goldmans legacy lives on. By selecting the relevant option, you certify that it accurately reflects your residency. 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). 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. Some are already famous, some not yet so. Several years ago, Allan stepped back his work day-to-day due to health issues. "Our partnership with Blackstone gives us the financial resources and expertise we need to realize that vision. But each is According to Ratings, Outerstuff also renegotiated terms of its licenses with "most major sports leagues," significantly reducing minimum guaranteed royalties. Similar to what Fanatics has been doing in building and aggregating e-commerce rights, were looking to expand and protect the traditional retail channel. By submitting this request, you consent to receive email from Blackstone. Outerstuff upgraded by S&P Global Ratings to CCC on deal with lenders, Banking Essentials Newsletter: 5th May Edition, Banking Essentials Newsletter: 19th April Edition, According to Market Intelligence, April 2023, Banking Essentials Newsletter: 5th April Edition. Born to Holocaust survivors, Sol was raised to always push himself to grow closer to Hashem. 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. Pay increases are a top concern for 2022 to attract and retain talent, Temporary employee laws: A guide to hiring contract roles, What to include in a termination letter: Template and examples, How to Manage Your Time and Prioritize Your Workload. 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 . Outerstuff is also looking to complement its strength in licensed sports apparel with a branded play. He has formed life-long relationships with some of the world's biggest Rebbas and Gidolim.He embodies what it means to be a true askin and is helping shape our world as one of the leading forces behind Agudath Israel of America. Through his interface with commissioners, franchise owners After being separated, Lillian filed for divorce in 1983. Sol Werdiger, founder and CEO of youth licensed sports apparel manufacturer Outerstuff, has a sheaf of data he'll throw at any Silicon Valley executives who think their business is complex. long way!! The highest reported salary for an employee at Outerstuff Ltd. is currently $NaN / year, Outerstuff Ltd. provides a few pension benefits and perks. Diane, 70, headed the residential leasing department for several decades, when she scaled back also due to health issues several years ago. Access to easy-to-read digital editions of weekly issues. The industry is changing and leagues are looking for new ways to do business," said Outerstuff CEO Sol Werdiger, who founded the company as a youth outerwear company in 1983. Individual Investors & Financial Advisors. 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. Chemical Bank has said in filings with the U.S. Securities and Exchange Commission that Torgow "recused himself from all Board deliberations related to this lease agreement, and none of (the) adult children are directors, officers or employees of (Chemical Financial Corp.) or Chemical Bank. Try another search query or. Southfield-based Signature Associates Inc. was contracted to help with site selection. latest-news-headlines 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. For office-specific contact information, please visit our our offices page. Today, licensed jackets are just 5 percent of Outerstuffs business, while youth apparel is more than 25 percent the size of the adult market. February 8, 2023 Sol Werdiger following a meeting with Bibi Netanyahu By Larry Gordon Shloime (Sol) Werdiger approaches his role as a leader in the Torah-observant world calmly and thoughtfully. 2023 Leaders Group. That included the prized Chrysler Building, which they gave up in 1975. to one day take over the company with his cousin. 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. 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. Welcome to Jews You Should Know, introducing the broader community to interesting and inspiring Jewish men and women making a difference in our world. Regions Greater New York Area, East Coast, Northeastern US. "What's important to keep in mind is that they need to be vigilant on this. premier Jewish outreach and educational organization. With a Crains Detroit Subscription you get exclusive access, insights and experiences to help you succeed in business. We do this through the commitment of our extraordinary people and flexible capital. There is also a $10.49 million property tax abatement, according to an MSF briefing memo at the time. "I don't think this is the last deal of this kind we'll do. 49 print issues delivered to your home or office. Outerstuff's annual revenues are $100-$500 million (see exact revenue data) and has 100-500 employees. "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. There are also four seven-year renewal options at the end of the 22 1/2 years. 1412 Broadway #18, New York, NY 10018 He reports that Outerstuff has "600,000 SKUs in our NFL business alone.

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