New On The Block

Sandals Resorts International is once again trying to sell itself after years of family drama that’s more akin to “Succession” than “Paradise Hotel.”

The Caribbean company — famous for its luxury destinations in places like Jamaica, the Bahamas, Saint Lucia, Grenada, Barbados, Antigua, Curaçao and Turks and Caicos — is hoping to fetch between $6 billion and $7 billion, the Wall Street Journal reported.

Founded in 1981 by Gordon "Butch" Stewart, Sandals has been caught in a legal soap opera since his passing in 2021. His son, Adam Stewart, now runs the company, but family infighting over Butch's estate could complicate the sale process. Expect big hotel chains and private equity firms to circle the all-inclusive resort company.

Earlier this year, Hyatt shelled out $2.6 billion for Playa Hotels & Resorts, proving that the market is sizzling hotter than a Jamaican beach in July.

Of course, before Sandals finds a new owner, it has to survive both the sale process and the family feud. While Sandals promises a stress-free getaway for couples, behind the scenes, it's been anything but smooth sailing.

Updates From The Block

The Boston Celtics are set to be sold to private equity investor Bill Chisholm for a record-breaking $6.1 billion, eventually reaching a whopping $7.3 billion. According to Axios, that’s more than any pro sports team has ever fetched.

For context, that’s more than what Josh Harris paid for the entire Washington Commanders, and they at least have their own stadium.

But it’s not a slam dunk just yet. The NBA must give Chrisholm the blessing, which won't happen until after the season. Until then, Chisholm is reportedly still shopping for some deep-pocketed co-investors.

Other M&A updates:

• CVC Capital Partners is interested in buying Fortress Investment Group from Mubadala, Bloomberg reported.

Off The Block

• Cylinder, a Chicago-based virtual health platform, just acquired Dieta Health, a startup specializing in generating AI images of your stool. Seriously. Dieta's app allows patients to snap photos of their number two and the AI provides an accurate reading and report. Cylinder's goal? To provide more personalized digestive care that actually improves clinical outcomes and gut health.

Bankruptcy Block

Village Roadshow Entertainment, the company behind hits like “The Matrix,” is now in full liquidation mode after filing Chapter 11.

The company's dispute with Warner Bros Discovery (NASDAQ:WBD) started when “The Matrix Resurrections” was released on HBO Max the same day it hit theaters. Village Roadshow claims this move killed the franchise’s value.

That made already troubling financial matters worse, according to Variety. Village Roadshow dropped millions in legal fees trying to resolve the dispute, which still isn’t settled three years later.

Despite putting 99 movies (i.e., “Joker” and “Ocean’s Eleven”) and 166 TV series into development, none were profitable enough to keep the business afloat.

At the moment, Village Roadshow's assets are worth an estimated $100 million to $500 million, but it owes over $500 million to $1 billion and has a list of over 200 creditors. Among its debts? Over $11 million to Kirkland & Ellis and $1.4 million to the Writers Guild of America West.

For last week’s edition of the Deal Dispatch, click here.

Read Next:

• Canada’s Retaliatory Tariffs Against US Draw Commerce Secretary Howard Lutnick’s Ire Who Thinks They Are ‘Tone Deaf’