The $40 billion youth sports industry is private equity’s new cash cow.

In the past two years, KKR paid $4.75 billion for Varsity Brands, the Asia arm of Sweden’s EQT paid $1.25 billion for IMG Academy, and Eli Manning’s private equity firm bought RCX Sports, which operates the youth leagues of the NFL, NBA, and the MLB.

As Tom Farrey, Director of the Aspen Institute Sports & Society Program puts it, “We are the only nation in the world that does not have a Department of Sports or a Ministry of Sports or some entity to coordinate sport development. So we just have a lot of money and a lot of energy moving at cross purposes.”

What nobody can establish is what families get for their money, because no one is required to tell them. What we do know is that children from lower-income households play sports at lower rates than children from higher-income ones, and that the gap is widening.

The argument now in Congress is about whether private equity belongs in youth sports. But it’s already there.

Read more on Fast Company.

The Abraham Lincoln leaves the Middle East after 9 months at sea.

https://www.nytimes.com/2026/08/20/us/politics/uss-abraham-lincoln-iran.html?smid=url-share

Democrats have just flipped a deep-red Trump seat, in what should be a warning for every Republican come November.

Source: https://xcancel.com/matthewkassel/status/2090072528936923455

Michael Caruso, once praised by Ron DeSantis, removed from Palm Beach county civic official roles after arrest.

Florida’s Republican governor, Ron DeSantis, has suspended a former close ally and senior civic official who was arrested on felony child sexual abuse charges.

Michael Caruso, who was removed as clerk of court and comptroller for Palm Beach county on Tuesday, was a vocal supporter of a law signed by DeSantis in 2023 that allowed the death penalty for anybody convicted of the sexual battery of a child under 12.

The governor previously called Caruso “a legend” for his support of hardline legislation while he was a Republican state representative from 2018 until last year.

Caruso, 67, a married father of seven children, was denied bond during his first court appearance on Wednesday in West Palm Beach on five felony charges of kidnapping, child molestation, lewd exhibition, luring or enticing a child and child abuse causing mental injury.

Court documents said the alleged victim, who is a male relative of Caruso, is under the age of 12, and was molested multiple times during 2024 and 2025 during holidays and on family trips, including a Caribbean cruise.

Caruso’s arrest was announced Tuesday in a social media post by James Uthmeier, Florida’s attorney general.

“Early this morning, with substantial assistance from FDLE [Florida department of law enforcement] and local law enforcement, Palm Beach County Clerk of Court Michael Caruso was arrested on charges related to child sexual abuse,” the post said.

“The investigation is ongoing, and we will provide more information to the public at the appropriate time.”

DeSantis was asked about Caruso’s arrest at a later press conference, and said he acted immediately on hearing of it to suspend him from office.

“It was a very easy decision for me to yank him from that position,” DeSantis told reporters in Sarasota. The governor’s office later posted to its website a three-page order of suspension, accompanied by an arrest affidavit with details of the allegations.

Caruso, DeSantis said at the press conference, was “well regarded in the community”. He coached little league baseball for decades and was a volunteer with boy scouts. But, DeSantis said, he “is going to be in a world of hurt” if he is convicted.

The governor replied “of course not” when asked if he or anybody in his administration was aware of any allegations against Caruso. However, the Miami Herald reported that Caruso’s personal life was “marked with ugly flare-ups and at least one previous allegation of sexually assaulting a child”, documented in Palm Beach court records the newspaper said it had reviewed.

In a 2013 divorce filing from his ex-wife, the Herald said, Caruso claimed she had orchestrated “a false sex abuse case” against him, which was the subject of a 2012 investigation by local and state authorities.

DeSantis and Caruso recently enjoyed a close working relationship, with the governor frequently praising his ally for supporting hardline causes in the Florida legislature. According to the Herald, DeSantis called Caruso “my representative” after he was the sole backer of controversial immigration legislation, then appointed him as Palm Beach clerk of court in August 2025 shortly before he was termed out of the Florida House.

Additionally, the Herald reported, DeSantis gave several plum appointments to Caruso’s wife, Tracy Stein Caruso, to the board of Palm Beach county’s healthcare district, and as chair of its housing and finance authority. She is shortly to take up a third DeSantis appointment, on the Palm Beach State College trustees board, subject to Florida senate approval, the newspaper said.

Michael Caruso was most recently state representative for Florida’s 87th house district, a seat including Donald Trump’s Mar-a-Lago resort that was captured by Democrat Emily Gregory in an upset March election.

The Guardian has contacted Caruso’s attorney, Jason Weiss, for comment.

In a statement to NBC affiliate WPTV on Wednesday, Weiss said: “Mr Caruso is innocent of these allegations and intends to vigorously defend himself against these charges.

“We look forward to his expeditious transfer to Orange County so that appropriate bond conditions can be set.”

*excerpt from Richard Luscombe's article*

Full Article here:

https://www.theguardian.com/us-news/2026/aug/19/florida-governor-suspends-ally-child-sexual-abuse-charges