NTL Co-Founder Ousted by Forbes Over Undeclared $6 Million Payment
Randall Lane, co-founder of the National Thoroughbred League and former Forbes chief content officer, was fired by Forbes after the New York Times reported he received about $6 million from Shook Research, paid after Shook sold a stake to PPC Enterprises. Lane says the payment was a gift and that he should have disclosed it, calling it a serious error in judgment he deeply regrets. The incident comes as the NTL, launched with a six-team, $1 million prize concept, failed to gain traction, never secured horses, and did not deliver on its promises.