Texas Senate Primary Runoff Attracts Palm Beach Donors

Campaign finance reports are in and here’s what they say: everyone’s watching the bloodbath that is the primary battle between incumbent Sen. John Cornyn and Attorney General Ken Paxton.

Going into the May 26 runoff, out-of-state donors are overwhelmingly backing Cornyn, who received cash infusions from Toll Brothers co-founder and Mar-a-Lago member Bruce Toll and Wynn Resorts founder and Palm Beach resident Steve Wynn.

Since the March 3 primary, which saw neither candidate reach the necessary 50 percent threshold for the nomination, President Donald Trump has waffled on the subject of an endorsement. Immediately following the primary, Trump said he’d choose one of the candidates and ask the other to drop out.

Paxton offered to drop out if the Senate passed the SAVE America Act, the divisive proposed legislation that would require voters to provide documentary proof of citizenship when they register to vote. That didn’t happen. Paxton refused to drop out otherwise, prompting Trump to say, “maybe that leads me to go in the other direction.”

He didn’t do that either, at least not with an official announcement. His MAGA base favors Paxton and has been pushing for an endorsement. Steve Bannon has been framing the race as “a battle for MAGA’s soul,” Politico reported.

Meanwhile, establishment Republican Cornyn has taken a gloves-off approach to attacking his opponent via television ads. Cornyn’s jabs at Paxton over his alleged infidelity necessitated the intervention of Paxton’s daughter. Cornyn’s most recent attack ad uses AI to show Paxton in a car with his alleged mistresses.

The race has also become the costliest Senate primary battle in history, with candidates spending more than $110 million on advertising.

Dallas Cowboys push for $1B overhaul of AT&T Stadium

The Dallas Cowboys are eyeing a billion-dollar remake of AT&T Stadium, and they want Arlington taxpayers to help foot part of the bill. The NFL franchise, which is owned by Jerry Jones, is proposing more than $1 billion in upgrades to its home venue, as part of a lease extension that would keep the team in Arlington through at least 2055. The Dallas Business Journal reported that Arlington City Council was set to vote Tuesday on the deal, which would mark the first step in a long-range redevelopment plan for the nearly two-decade-old stadium. Under the proposal, the Cowboys would cover $750 million of the renovation costs, while Arlington would contribute $273 million over 20 years through existing venue tax revenues. The improvements would roll out in phases through 2043, with team officials saying the work would ultimately “touch every area of the stadium.”

Lurin Capital files Chapter 11 on Florida Properties

Two more Chapter 11 bankruptcy filings make 10 since March for Jon Venetos’ floundering multifamily firm. Dallas-based Lurin Capital filed for bankruptcy protection on two Florida properties, Palmiere Apartments and Lorient Apartments, both in Pensacola, according to filings made on Tuesday in U.S. Bankruptcy Court for the Southern District of Texas. The properties are at the center of lawsuits Fannie Mae filed against Lurin in December. Of Lurin’s 10 bankruptcy cases filed since March, eight are tied to properties and two are tied to Lurin-related entities Lurin LLC and Lurin Advisors.

Greenbriar resort in crosshairs of legal battle
Robert and Blake Rowling, of the Dallas billionaire family that owns Omni Hotels, moved to seize control of the Greenbrier Resort in White Sulphur Springs, West Virginia, setting off a legal brawl with its owner, former West Virginia Gov.-turned-U.S. Sen. Jim Justice. The fight centers on nearly $290 million in debt and could determine the future of the 11,000-acre luxury property. The Rowlings, through their firm TRT Holdings, purchased the resort’s first-lien debt from Martinsville, Virginia–Carter Bank & Trust. Now, they’re asking a federal judge to appoint a receiver to take over the Greenbrier and related properties, citing alleged defaults and mismanagement by the Justice family. Days after the federal filing, Justice fired back with a lawsuit, accusing the Rowlings, Carter Bank and others of conspiring to “pilfer” the historic resort through deceptive tactics, according to the outlet. The suit seeks to unwind the loan sale and allow the family to refinance at what it calls a fair payoff.