Latest news with #Parrott
Eater
2 days ago
- Business
- Eater
Legendary Beer Bar Tornado Might Not Be Getting Sold to a ‘Crypto Bro' After All
A contentious purchase of longtime Haight Street bar Toronado has gone Secret Lives of Mormon Wives . Days after would-be buyer Orion Parrott visited the bar with a San Francisco Chronicle reporter and photographer — a visit that devolved into chaos and shouts — current owner Dave Keene's lawyers told Parrot that the sale was off, supposedly because Parrot didn't waive 'certain contingencies within a given period of time,' the Chronicle reports. Parrott told the paper that he can't waive those contingencies because he's waiting on paperwork from Keene. So for now, the sale of a neighborhood institution and one of the city's most important beer bars is on ice. Toronado is closing because Keene, who opened the bar in 1987 and also founded the Barleywine Festival, is retiring. Parrott, a former Raytheon employee and current crypto entrepreneur, seemed like an odd match for Tornado, an old-school place that doesn't even take credit cards. When the San Francisco Standard broke the news in March that he was buying Tornado, the paper called him a 'tech bro' and quoted a group chat message where he said that he was trying to build 'the next great San Francisco food & beverage brand in the steps of Blue Bottle.' The Standard also reported that Parrott planned to launch a ToronadoCash crypto coin, but the reaction from the bar's regulars was so negative he gave up on the idea, he told the Chron . The reaction to Parrott himself also seems harsh. The Chron came to the bar with Parrott to interview and shoot photos on Friday, May 30. The atmosphere was tense, and bartenders cursed at Parrott, the reporter, and the photographer — they were particularly annoyed by the idea of the photographer taking pictures of staff and patrons. By the time they left, Keene was calling the reporter to make it clear he was still the owner. 'I own the Toronado! He does not!' Keene told the paper 'over and over.' Parrott told the Chron that his plans for the space included a 3,000-square-foot rooftop bar and that the former Rosamunde location next door is included in the $1.75 million asking price. Parrott plans to open that as a restaurant again. But now it's unclear whether any of those plans will come to fruition. Per the Chron, Keene and Parrott have not spoken directly, only worked together through the brokers handling the sale, and now Keene seems like he doesn't want to sell, or at least not to Parrott. Sign up for our newsletter.
San Francisco Chronicle
2 days ago
- Business
- San Francisco Chronicle
A tech investor's plan to buy a landmark S.F. bar has turned into a tortured battle
Orion Parrott wants to be the next owner of Toronado. But Toronado may not want him. Regulars of the legendary San Francisco beer bar have known about Parrott since March, when the San Francisco Standard published a leaked chat from the encrypted messaging app Telegram in which this 'crypto bro' declared he was buying the bar — and planning to launch an associated crypto coin. They were not happy. 'Please tell me this is satire…if not, this is an absolute worst case scenario,' one wrote on a Facebook group for fans of the bar. 'I definitely would never go back if this sale is real,' wrote another. But Parrott, a partner in Orange DAO, a fund that invests in cryptocurrency startups, seemed determined to win them over. In frequent posts in the Facebook group, he promised that he wants to preserve Toronado's legacy. And in late May, Parrott told me that his deal to buy the 38-year-old bar was moving forward and that he was ready to talk about his plans. Could a member of the tech elite really steward a famously nonconformist institution like Toronado? I met him there last Friday afternoon to learn more — and discovered that the question of who will be Toronado's next owner is still uncertain. By the end of the afternoon, Toronado bartenders would be yelling expletives at Parrott. They'd be screaming at a Chronicle photographer to leave the bar. And Toronado owner Dave Keene would be calling me in a panic, repeating over and over 'I own the Toronado! He does not!' When I passed through the bar's dutch door, I expected to see this allegedly soon-to-be-owner behind the bar, or at least chatting with the staff. Looking like he, you know, owned the place. But Parrott was clearly not an insider. He sat at a table against the wall, waving at me with a timid smile. Parrott knows he is an unlikely suitor. Toronado is as beloved for its beer selection, often referred to as 'Broadway for brewers,' as for being a holdout of a pre-tech boom San Francisco. With its sticky floors, graffitied bathroom stalls and cash-only policy, the bar is a visceral reminder that Haight Street was once the center of counterculture. Parrott, by contrast, comes from San Francisco's tech mainstream. He has launched mortgage-software and home-restoration startups, been through the Y Combinator accelerator and received his MBA from Berkeley. Although he invests in cryptocurrency companies, he disputes that he qualifies as a 'bro.' He's never owned a bar before and doesn't have a particularly storied history with this one. As we sat in Toronado's parklet with our beers on Friday afternoon, he said, 'I had honestly not been here a lot of times before, but I've been going to Zeitgeist for 15 years.' He's loved sour beer since trying Duchesse de Bourgogne for the first time in 2007. When he heard in January that the bar along with its building was listed for $1.75 million, he said, 'I had to jump on it.' He put together a group of investors and beat out at least two other offers. 'I'm told most dudes kind of vaguely want to have a bar,' he said with a smile. 'And yeah, that does sound fun, but this is a very special place, obviously.' The history and longevity impressed him. He worried that some prospective buyers might close Toronado and replace it with something that didn't serve the neighborhood as much, like a chain restaurant. Parrott thought he could be the one to save it. 'People want this bar, so we're here to keep it around,' he said. 'It's not a charity, but my expectation is there's things we can do behind the scenes to make it better survive on its own.' Indeed, Parrott thinks Toronado can be very profitable. He wants to open a restaurant in the adjacent storefront, also included in the sale, formerly a Rosamunde Sausage Grill. A 'locally successful purveyor of food' is interested in operating it. He sees opportunities in merch and 'content,' like a YouTube channel, inspired by the San Francisco skater brand Thrasher. Also, Parrott envisions a 3,000-square-foot rooftop beer garden. 'We've done some structural analysis, and it looks like no problem,' he said of the roof. He's trying to walk a fine line between pitching the financial promise to investors, he said, and convincing the community that he won't change much. 'We're here to maintain (Keene's) legacy,' he said. 'A lot of people are worried that I'm going to ruin it. What would be the point of that? That would make no business sense.' He intends to keep all staff, 'because they know how to run the place.' Although he'd originally planned to launch a cryptocurrency tied to the bar called ToronadoCash, he abandoned it after the news leaked because 'people hated it so much.' Using a platform called Lofty, he'll offer community members the chance to buy small amounts of equity in the bar, for as little as $50, which will be 'like trading a baseball card.' He cited Blue Bottle Coffee as 'an amazing example of a company that didn't sell out and grew and stayed true to its roots. Now, not everybody agrees with that.' (Blue Bottle sold to Nestlé in 2017.) 'Some people are going to be all up in arms, like, does that imply an acquisition to a corporation someday? It's like, maybe, maybe not, right?' As he spoke, an angry bartender approached our table. 'Excuse me, can I interrupt?' he demanded. 'You take a picture of the bar? Don't include regulars then post it on the internet. They don't want to f—ing be seen publicly.' Before I'd arrived, Parrott had taken a photo of the beer wall, as Toronado's menu is known, and posted it to the Toronado Facebook group. He promised the bartender he'd delete it right away. 'It got five likes already, but I took it down,' he said to me. 'I just remember somebody was saying they wish people would post the beer wall more often, so when I come in, I try to take a picture.' The interaction shook Parrott, and he seemed distracted for a few minutes. 'I don't know if my plan of being open and transparent with people is a winning plan,' he sighed. The vitriol he's received on social media has been discouraging. He's never actually spoken with Keene. 'The brokers have communicated that Dave doesn't want to sell it to me,' he said, 'but I don't know if I trust them.' Surely the guy wouldn't have accepted his offer if he didn't want Parrott to buy the bar — right? Our interview wrapped up, and my Chronicle colleague Gabrielle Lurie arrived to photograph Parrott. He warned us that she might need to stay outdoors, since the staff might not want photos taken inside the bar. After the earlier confrontation, I suspected he was right. When Lurie went inside and asked permission, Toronado employees screamed at her, told her to leave and demanded she give them her phone number. Minutes later, Keene called her. The tone of the call was so aggressive, Lurie said, that she hung up. I asked Lurie for Keene's number so that I could call him myself. Before I could finish dialing, he was calling me. Keene was deeply upset. The only thing he would say on the record — and he said it several times — was 'I own the Toronado! He does not!' Three days later, Parrott heard from Keene's lawyers. According to Parrott, Keene's position is that because Parrott did not waive certain contingencies within a given period of time, he is no longer under contract to buy Toronado. Parrott said that he couldn't waive those contingencies because they hinge on receiving documents that Keene's brokers have not handed over. Keene's agent Katy Lynn declined to comment for this story. This sort of dispute is unusual but not unheard of in San Francisco commercial real estate, said Cheryl Maloney, a broker with Vanguard Properties (and the owner of La Ciccia restaurant). Once a deal is under contract, a seller has limited options to cancel. 'Depending on the language of the contract, it's unclear if the seller can pull out or not,' Maloney said. In some cases, a seller's refusal to sign the final paperwork could constitute a breach of contract and result in a lawsuit, said Cameron Baird, senior vice president of the commercial real estate agency Avison Young. 'It would come down to who wants to spend the most money to win,' he said. But even if a buyer prevails, more roadblocks may remain. 'If the neighborhood doesn't like the guy that's going in, they could make his life very annoying,' Baird said. 'Opposing every permit, appealing every liquor license transfer. They could make it really uncomfortable.' Parrott thought this tortured courtship was a battle he could win. He never expected that Keene would want to pull out of the deal. He isn't giving up yet, but for the first time, he's beginning to question it. 'I think there was a time when they did want to sell to me,' he said. Now, he thought, 'There's a chance it doesn't go through, honestly.'
The Irish Sun
2 days ago
- Sport
- The Irish Sun
Premier League club among Troy Parrott suitors while Serie A outfits keeping tabs on Dara O'Shea
TROY PARROTT will hope to avoid any howlers tonight — as Premier League Wolves eye up the Ireland ace. The Aviva Stadium will be a shop window as Heimir Hallgrimsson's Boys in Green Advertisement 2 Parrott was struggling with an illness earlier this week 2 Dara O'Shea could be set to stay in the Premier League in spite of Ipswich Town's relegation AZ Alkmaar striker Parrott, who trained yesterday A return to England for Parrott has been mooted after he hit 20 goals last term for AZ. The former Spurs man, 23, is understood to be a target for a number of clubs including Wolves. AZ lost the Dutch Cup final to Go Ahead Eagles to miss out on Europa League qualification. Advertisement Read More On Irish Football And while they subsequently won a play-off to make the Conference League, they would be willing to cash in on their prized asset if the price is right. SunSport revealed yesterday that O'Shea is also It is understood Serie A clubs are watching him closely. The 26-year-old is under contract at Ipswich but looks set to leave Portman Road following their relegation just a year after he joined the Tractor Boys. Advertisement Most read in Football Exclusive Exclusive Live Blog Another Ireland player with admirers is Leicester winger Kasey McAteer, 23, with Premier League new boys Sunderland sniffing around after the Foxes' relegation. McAteer is expected to move on as Leicester have to sell players to meet Football League financial requirements or risk a points deduction. Ex-Arsenal starlet jailed over plot to smuggle £600k of cannabis into UK Sunderland are understood to be planning to watch him tonight or on Tuesday in Luxembourg.
Irish Daily Mirror
3 days ago
- Sport
- Irish Daily Mirror
Sick as a Parrott - Heimir Hallgrímsson outlines team news ahead of Senegal test
Heimir Hallgrímsson will make a decision on Troy Parrott's availability for Friday's friendly with Senegal after assessing the AZ Alkmaar striker's reaction to a full training session. Illness meant that Parrott was confined to his hotel bedroom all day Wednesday. However, the Dubliner felt well enough to take part in Thursday morning's final training session before the first ever meeting with the 2021 African Cup of Nations winners. Parrott will be monitored between now and kick-off, with Hallgrímsson confirming: 'Troy has been sick, he was sick yesterday and stayed in his room, but he was feeling much better this morning, so he was the only concern we have. 'Everyone else is fit, everybody is ready and looking forward to it. It has been a positive environment this camp, sharp players, and we're really happy with the sessions up to now.' Speaking ahead of Thursday's training in Abbotstown, the Ireland boss continued: 'He is going to train today, so let's see how he reacts to the session. 'And after the session we'll look at it again before we finally select the team.' When it comes to his starting-11, Hallgrímsson is keeping his cards close to his chest. There are five uncapped players in his squad - including Shamrock Rovers defender Josh Honohan - and some of them could see action over the games against Senegal and Luxembourg after impressing in training. 'The purpose of bringing in the new players was just to see them and evaluate them, and they have been good both fitting in the group and pleasant to have them, and on training growing into what we are doing,' he said. 'Obviously in the beginning for some it is a big step, and we could sense they were nervous in the first training but after that, it's been really positive.' As for their prospects of getting on the pitch, Hallgrímsson said: 'The purpose of having a look at them is to see if they are ready to play. Whether it will be tomorrow or against Luxembourg or not at all, we will wait and see. 'Like I said, we have been happy with the players coming in, how they have coped with the environment and getting on board the messages and wanting to learn,that is the most important thing. Their will to learn is huge.' Hallgrímsson anticipates a 'massive' test against a physical and high-quality Senegal who haven't lost in open play in their last 22 games. In that period, there was a penalty shootout defeat to the Ivory Coast in January of last year in the African Cup of Nations. Summing up Ireland's opponents, he said: 'If you look at their matches and how they play, massive physicality, I'd say not only speed but running power, they come at you again and again, they look for the space behind you. 'If you watch Afcon, against a team like Senegal they always need to play against a low block, so they are specialists in finding pockets to play into a run into, a third man running in, so we will be tested defensively, massively, in this game, if they play like they have done. 'In their last 22 games they haven't lost, amazing for a national team to play 22 games without losing, and then they lost to Algeria, before that again, nine games without losing. 'So they are a massive team. The first goal is important and that's another aspect of the game when we play them, and individual qualities, similar to Portugal, all players can hurt you so one-v-ones will be massively important. 'Everything happens a little bit quicker, when we need to defend and that's a good step, if we are ready for that it's a good preparation for Hungary and Portugal. 'It's a different kind of opponent, they are looking for spaces behind us and it doesn't happen that often in Europe, normally there are a few passes before the teams play behind us but that's one of the things we need to look at and improve.'
RTÉ News
3 days ago
- Sport
- RTÉ News
Troy Parrott a doubt for Senegal; Heimir Hallgrimsson happy with positive camp
Troy Parrott has emerged as a doubt for the Republic of Ireland ahead of tomorrow's friendly international against Senegal at Aviva Stadium. The AZ Alkmaar striker was sick on Wednesday, and missed out on training, and while he reported back for duty on the eve of the game, the manager said he will wait and see as to whether he is in contention to play a part in the final home game of the season. Parrott started both games in March, when Ireland beat Bulgaria in back-to-back fixtures to secure their status in the Nations League, and appears to be a key attacking component of the manager's plans heading into September's World Cup qualifying campaign. Heimir Hallgrimsson has several attacking options to choose from should Parrott be ruled out of the first of two upcoming fixtures, with an away trip to come on Tuesday against Luxembourg, and the manager reported a clean bill of health with the remainder of the squad who are "ready and looking forward to it". The manager is also using this international window to offer opportunity for fringe players, or new recruits, to come in and "rock the boat" and push for World Cup consideration. "Troy has been sick, he was sick yesterday and stayed in his room," said Hallgrimsson, speaking at the pre-match press conference. "But he was feeling much better this morning, so he was the only concern we have. "He is going to train today, so let's see how he reacts to the session. And after the session we'll look at it again before we finally select the team. "Everyone else is fit, everybody is ready and looking forward to it. It has been a positive environment this camp, sharp players, and we're really happy with the sessions up to now." Part of the preparation for September involves introducing some new faces into the squad to add competition for places and to create a contingency for the start of the new season should players pick up injuries ahead of the two games against Hungary and Armenia. Hallgrimsson said that he has been happy with how the new recruits, Josh Honohan, John Joe Patrick Finn, Killian Phillips, and Josh Keeley have integrated into the squad, once overcoming that initial and expected nervousness. And while he has a fairly established starting selection at this stage, the manager is still hoping someone from the fringe can come in and stake their claim for a place. "The purpose of bringing in the new players was just to see them and evaluate them, and they have been good both fitting in the group and pleasant to have them, in training and growing into what we are doing. "Obviously, in the beginning for some it is a big step, and we could sense they were nervous in the first training but after that, it's been really positive. "We wanted to have a camp in May to add knowledge to more players, see new faces and rock the boat. We've been more or less picking a similar squad so when we lost out on the May camp we still opened spots for new players to come in." Four days into the June international window, and while the manager said that camp has been very positive, he reemphasised that the focus would be on the upcoming qualifying campaign, while also attempting to conduct a camp that is in keeping with the fact that the players have had a long season. "It is a limited time I've had and we have had together doing what we are trying to achieve, and with the World Cup coming up, September is going to be huge for us and that is our main objective to prepare for September. "Obviously, you always want to win all your games, but it is good that it is not maybe as important. "We didn't overload the players, it's always tough, end of season trainings, it seems to take more from the players than it does earlier in the season. "We try to limit time on the pitch, we try to give them a little more break during this camp, but still we got our message through. "We will see tomorrow if it totally got to them. Compared to the past camps, it has been a pretty good one." There is, however, still a focus on the Senegal game tomorrow night as Hallgrimsson would certainly like to maintain the momentum and take an unbeaten run into the autumn, however, he did concede that he would be happy to lose the two friendly fixtures if it meant getting the World Cup campaign off to a winning start. "Most games, national teams games are official competitive games, so we are lucky that we have two friendlies now, like we said before this camp to give some players a needed rest after a really long season and hopefully that will give us fresh players in September. "The preparation is mixed with what is going to happen in September. We started the camp by talking about what is coming up, and why it is important to play games like Senegal. "And what can we take from these games to transfer to the games in September. It is important that we have more than 11 players ready to play and knowing everything about how we want to play." "That's important as well," he added, when asked about momentum. "I wouldn't mind losing both these games if we won both games in September, if you are thinking about it that way. "Obviously, we want to win all of our matches and we go to every match to win it. We have a good squad now and we are going to go for it, for sure."
