Burnet tapped the 49-year-old Stanley for the job because of the restaurant executive's experience in opening restaurants for Hard Rock in 20 countries from 1987 to 1995. Burnet is part-owner of the Minnesota Timberwolves basketball team.
Stanley's priority list for early 2001 is topped by expansion plans in either New York or Los Angeles, followed by near future openings in other National Basketball Association cities and in Asia. The NBA has no direct equity interest in the restaurant but licenses its name and provides marketing and promotional support. The league would acquire some equity in the restaurant only if it becomes profitable.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.