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Kobe Bryant Hopes To Leverage Appeal In Asia With New Venture-Capital Tech Fund

Published in SportsBusiness Daily on 08 / 23 / 16

Former NBAer Kobe Bryant yesterday unveiled his new $100M venture-capital tech fund , and while he "acknowledges he's no expert on the tech industry," there are "areas where he's been prescient, including Asia," according to Dave & Lien of the L.A. TIMES. His partner, Jeff Stibel, said Bry...

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Int'l Speedway Corp. Lowers '16 Expectations

In a sign of the continued challenges motorsports promoters face, ISC this morning in a conference call lowered expectations for '16 after a decrease in admission-related revenue for Q2, which ended May 31. ISC’s total Q2 revenues were up 2%, from $164M to $167.6M, thanks largely to a contract ...

Tags: Finance, International Speedway Corp.

Source: Disney Buying 33% BAM Tech Stake

Disney has "agreed to acquire a one-third stake" in BAM Tech in a deal that values the business at about $3.5B, according to a source cited by Soshnick & Palmeri of BLOOMBERG NEWS. The source said that Disney will also "obtain a four-year option to buy" an additional 33% stake in BAM Tech. ...

Tags: Finance, Walt Disney, MLBAM

Bruin Sports Buys Video Streaming Firm

George Pyne’s Bruin Sports Capital is getting into the video streaming business, having bought Italy-based deltatre, which provides streaming tech for leagues and TV networks and has deep ties in international soccer. Financial details are not publicly available. deltatre CEO & co-Founder ...

Tags: Finance

Nike's North American Profits Take Dip

Nike's Q4 results ended its "long streak of strong growth" in North America, as the company's profits fell 2% and sales were flat, according to financial reports cited by Germano & Stynes of the WALL STREET JOURNAL. Driven by "gains overseas," overall revenue rose 6% for the quarter that ended M ...

Tags: Finance, Nike

Titleist Owner Acushnet Files For IPO

Acushnet, which owns golf brands Titleist and FootJoy, filed for an IPO yesterday, "despite a recent downturn in golf play in the U.S.," according to Austen Hufford of the WALL STREET JOURNAL. Acushnet plans to "use ticker symbol 'GOLF' and seeks to raise" as much as $100M for its shareholders who a ...

Tags: Finance, Golf

Sources: DraftKings, FanDuel In Talks For Merger

DraftKings and FanDuel "are in talks about a merger," according to sources cited by Sherman & Soshnick of BLOOMBERG NEWS. Sources said that investors in both companies "have been pushing for a tie-up for some time." The companies offer "nearly identical products and spend a lot of money competin ...

Tags: Finance

WME-IMG Expanding Its Chinese Business

WME-IMG "is teaming up with" venture capital firm Sequoia Capital and tech firm Tencent to expand its Chinese business, according to Henny Sender of the FINANCIAL TIMES. The venture, which is "expected to be announced in the next few days, will involve staging mainland events and setting up sponsors ...

Tags: Finance, William Morris Endeavor, IMG

WinView Brings In $3.4M In Funding Round

WinView, an app that lets users "challenge each other on various aspects of a live game," yesterday announced that it had raised $3.4M in a round led by TiVo Chair Tom Rogers and former MSG President & CEO Hank Ratner, according to Michael de la Merced of the N.Y. TIMES. The latest rou ...

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Under Armour To Lose $120M In Sales

Under Armour yesterday announced that it will lose $120M in "expected sales to The Sports Authority this year as the chain liquidates in bankruptcy," according to Lorraine Mirabella of the Baltimore SUN. UA in an SEC filing said that it "will recognize only" $43M of $163M in anticipated revenue ...

Tags: Under Armour, Sports Authority, Finance

Acushnet Reportedly Prepping For IPO

Golf equipment company Acushnet, the owner of brands including Titleist and FootJoy, is "preparing to register with U.S. regulators as early as June" for an IPO that "could value it" at more than $2B, according to sources cited by Lauren Hirsch of REUTERS. The IPO would come "five years after consum ...

Tags: Golf, Finance

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