Stephen Ross may drop bank bid

Sign Up for the undefined Newsletter

Real estate mogul and Miami Dolphins owner Stephen Ross may have to return the $1.1 billion he raised to invest in a vehicle called SJB Escrow. Ross raised funding from firms like Greenlight Capital, Maverick Capital and Elliott Management more than a year ago, but if no investment is made by August, the money must be returned, a source said. SJB was an initial bidder for ING’s online banking wing, but later withdrew. [The Street]