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NYC FC Set To Introduce Lampard; Beasley Signs With Dynamo

Published in SportsBusiness Daily on 07 / 24 / 14

NYC FC today is expected to introduce Frank Lampard as its new designated player signing as he joins the MLS expansion team following his career with EPL club Chelsea. The event "also will see Lampard taking part in a coaching clinic with local children" ( DAILYMAIL.co.uk, 7/24 ). Meanw...

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EA Receives $9.1M In Florida Tax Breaks

Electronic Arts has been “the biggest beneficiary” over the past three years as the Florida legislature has “dramatically expanded the amount of incentives available to film and entertainment companies,” according to Jason Garcia of the ORLANDO SENTINEL. Florida awarded EA m ...

Tags: Finance, EA Sports

Nike Profit Shrinks 18% From Umbro, Cole Haan Losses

Nike’s fiscal Q2 profit “shrank 18% as results were weighed down by $137 million in losses tied to the sale of the Umbro and Cole Haan brands, masking strong demand for the athletic-goods giant's products,” according to John Kell of the WALL STREET JOURNAL. The company's “top ...

Tags: Finance, Nike, Adidas, Reebok

Oregon Passes Tax Security For Nike Expansion

The Oregon Legislature, “despite misgivings about a rushed, sweetheart deal,” approved a new law Friday that “gives Nike greater tax security as the company plans a multimillion dollar expansion in the state,” according to Harry Esteve of the Portland OREGONIAN. The bill pass ...

Tags: Finance, Nike

Sources: IMG Could Sell For $2B

Private equity firm Forstmann Little & Co. is “preparing to put its powerhouse sports agency IMG Worldwide up for sale next year,” and the sale “could fetch as much as $2 billion,” according to sources cited by Rachel Abrams of DAILY VARIETY. Sources said that Goldman Sa ...

Tags: Finance, IMG

WMG Acquires Canada-Based Catalyst Consulting

Wasserman Media Group "has expanded both its consulting business and its Canadian presence with the acquisition of Catalyst Sponsorship Consulting, a Toronto firm with golf expertise and relationships with large Canadian companies," according to Terry Lefton in this week's SPORTSBUSINESS JOURNAL. Ca ...

Tags: Finance, Wasserman Media Group

Initial Bids For AEG Due Friday

Initial bids are due Friday for AEG, financial sources said. AEG announced in September it was putting itself up for sale, and hired Blackstone Group to run the auction. A spokesperson for Blackstone declined comment; an AEG spokesperson did not return calls seeking comment. Blackstone in October se ...

Tags: Finance

Competitor Group Reportedly Selling For $250M

Private equity firm Calera Capital is buying endurance sports leader Competitor Group Inc. for close to $250M, sources said, ending a nine-month auction of the company.  The CGI management team, led by CEO Scott Dickey, will remain in place as they move from working under one private equity fir ...

Tags: Finance

AMF Bowling Files For Bankruptcy Protection

AMF Bowling, the world's largest operator of bowling alleys, filed for bankruptcy-court protection yesterday “after being squeezed by a cash crunch and failing to find a buyer for its business,” according to Jacqueline Palank of the WALL STREET JOURNAL. The filing “marks AMF's seco ...

Tags: Finance

Henry's Firm To Cease Trading For Clients

Boca Raton, Fla.-based trading firm John W. Henry & Co., controlled by Fenway Sports Group Chair John Henry, “told clients it will stop managing their money at year-end amid dwindling assets and slumping returns," according to Gregory Zuckerman of the WALL STREET JOURNAL. Henry i ...

Tags: Finance, Fenway Sports Group, Boston Red Sox

Reebok Hurting Adidas Sales Numbers

adidas has so far had a "strong year as sponsorships of teams and individuals at big sporting events helped drive up sales and profit," but the company on Thursday "cut its sales forecast for 2012 because of further problems at Reebok," according to Nicky Redl of the WALL STREET JOURNAL. adidas acq ...

Tags: Finance, Adidas, Reebok

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