SBD/Issue 129/Sports Industrialists

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  • Under Armour's Plank Cuts Salary After Missed Revenue Goals

    Plank Cut Salary From $500,000 To
    $26,000 After Not Meeting Goals
    Under Armour Chair & CEO Kevin Plank last year voluntarily cut his annual salary from $500,000 to $26,000 after the company "did not meet revenue goals," according to Andrea Walker of the Baltimore SUN. Plank said that he "thought he should be paid based on the performance of the company." Plank was eligible for a bonus of up to $1.47M, but Under Armour "had to meet revenues of at least" $775M for the year. While the company's revenues last year rose 19.7% to $725.2M, the figures fell short of the company's benchmark. Plank in '07 earned more than $1.5M, with his salary and a $1M bonus. Meanwhile, Plank also has "proposed no salary increases for certain executive officers this year as 'an effort to control expenses and manage our business more conservatively in the current economic environment'" (Baltimore SUN, 3/24).

    CLOCKING OUT: Under Armour Senior VP/Business Development BILL KRAUS has resigned to start his own sports management company. During his seven years at Under Armour, Kraus was responsible for various groups within the organization, including product merchandising, brand marketing, sports marketing, licensing and sales (Under Armour).

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  • Executive Transactions

    Former ESPN Manager of Corporate Outreach CINDY MERCER has formed N.Y.-based Trinity Sports Partners. The new company will focus on sports-related marketing, PR and cause marketing projects (THE DAILY).

    EXECS: The CFL named CURTIS EMERSON Dir of Events & Production. Most recently, Emerson was with Maple Leaf Sports & Entertainment, where he managed the broadcast and production facilities at Air Canada Centre, including the recent HD upgrade (CFL)….Learfield Sports promoted Associate GM ERIC KWAIT to GM and named SEAN MOLER Account Exec for Cardinal Sports LLC, the marketing and multimedia partner of Stanford athletics. Kwait replaces DAVID HUBBARD, who was named GM for Learfield Sports’ Red Raiders Sports Property at Texas Tech Univ. (Learfield)….MICHEL HILL was named Exec Chef for Aramark operations at Applebee’s Park, home of the Single-A South Atlantic League Lexington Legends (Legends).

    Do you have an executive announcement? If so, please send to editorial@sportsbusinessdaily.com.

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  • Names In The News

    Armstrong's Injury Could Hinder 
    Tour De France Preparations
    In L.A., Diane Pucin reports cyclist LANCE ARMSTRONG fractured his collarbone in a crash yesterday during a race in Spain that "may jeopardize his participation in the Giro d'Italia, which begins May 9, and hinder his preparations for the Tour de France, which begins July 4." Team Columbia-Highroad physician Dr. HEIGE RIEPENHOF said that if Armstrong's fracture is a clean break, as reported, his ability to race in the Tour de France "shouldn't be in doubt" (L.A. TIMES, 3/24). Armstrong said that he will "need a week to decide whether to race the Giro" (N.Y. TIMES, 3/24). ESPN.com's Bonnie Ford writes there is "enough time for Armstrong to make a full recovery and put in the kind of work he needs to be competitive at the Tour, provided everything goes smoothly" (ESPN.com, 3/24).

    CHANGING PITCHES: In Boston, Donna Goodison reports with P CURT SCHILLING yesterday retiring from MLB, he now will have "more time to focus" on his videogame company, 38 Studios. Schilling today will participate in the GamesBeat videogame conference in S.F., where he will address "his goals for the company," which he founded in '06. The studio currently is developing a "so-called massively multiplayer online game with a fantasy theme" (BOSTON HERALD, 3/24).

    Reynolds Describes The Life Of
    Journeyman Professional Tennis Player
    FLYING HIGH: ATP World Tour player BOBBY REYNOLDS, as part of the N.Y. TIMES' Frequent Flier feature, writes for some "highly ranked" ATP players, the lifestyle can be "really lucrative and come with all of the perks that you can imagine, including flying in private jets or first class." Reynolds: "For the rest of us, it's coach all the way. And there's nothing glamorous about it. ... But it's kind of neat, because I get to see so many different parts of the world." However, Reynolds added he is "always at the mercy of the airlines." Reynolds said of his secret airport vice, "When I'm waiting, all I do is surf the Internet if I can get a connection" (N.Y. TIMES, 3/24).

    NAMES: More than 400 Miami-area businesses Friday attended a workshop by the NFL Emerging Business Program, which aims to "provide local, minority and women-owned businesses" with Super Bowl-related business. NFL Manager of Special Events Business Development TISHA FORD said that a "record number of businesses have expressed interest in the program" for next year's Super Bowl XLIV in Miami (MIAMI HERALD, 3/21)....Cleveland-based financial planning company Prim Capital Corp. has filed a $250,000 breach of contract lawsuit against former NBAer SCOTTIE PIPPEN, a former client. Prim runs the NBPA Financial Awareness Program and was hired, and later fired, by Pippen to help with financial matters. Prim investment adviser TODD HUNTER is the son of NBPA Exec Dir BILLY HUNTER (CHICAGO TRIBUNE, 3/24)....Yankees SS DEREK JETER is building a 30,875-square-foot home in Tampa with seven bedrooms and nine bathrooms (N.Y. POST, 3/24)....Comedian JEFF FOXWORTHY and Falcons Owner ARTHUR BLANK's foundation were honored at Fun Fete, a gala in Atlanta benefiting Prevent Child Abuse Georgia. Falcons FB OVIE MUGHELLI was among the more than 400 attendees, while Red Sox P JOHN SMOLTZ sent in a video tribute (ATLANTA CONSTITUTION, 3/23).

    IN MEMORY: Former Boston Globe Exec Sports Editor ERNIE ROBERTS died yesterday morning at the age of 88 of complications from a stroke he suffered last week. Boston Globe sports columnist BOB RYAN said of Roberts, who worked at the newspaper from '47-83, "The Globe sports department that gained great fame and glory in the '70s, '80s, and '90s would not have taken the form or shape it did without Ernie Roberts" (BOSTON GLOBE, 3/24).

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