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Team Owners Continue To Invest In Tech Startups With Potential Sports Applications

Published in SportsBusiness Daily on 01 / 20 / 17

Venture capitalist is the "newest job in professional sports," as the ownership groups behind the Mets, Cavaliers and Capitals have "all announced the founding of new venture firms," according to Reed Albergotti of THEINFORMATION.com. Others, such as the Dodgers, " launched incubators for startups ....

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Under Armour Changing Stock Ticker Symbols

Under Armour plans to "change the ticker symbols” of its Class A and its Class C shares “in order to bring further distinction between the two, whose prices have been separated by a wide margin,” according to CNBC's Bill Griffeth. The Class A shares, which contain voting rights and ...

Tags: Finance, Under Armour

Dick's Keeping 22 Sports Authority Stores

Dick's Sporting Goods Chair & CEO Ed Stack during a Q3 earnings call yesterday said that of the 31 store leases the company purchased from bankrupt Sports Authority in July, Dick's is "keeping 22 -- mostly in California and Florida," according to Stephanie Ritenbaugh of the PITTSBURGH POST-GAZET ...

Tags: Finance, Dicks Sporting Goods

ESPN Financials Lower In Disney's Q4

Disney on Thursday afternoon reported a Q4 profit of $1.77B, "up 10% from a year earlier, but failed to deliver on analysts’ expectations," according to Daniel Miller of the L.A. TIMES. There were "several weak spots for the company during the quarter," with "notable declines in box office sal ...

Tags: Finance, Walt Disney, ESPN

New Adidas CEO Scales Back Struggling Reebok

adidas will "scale back its struggling Reebok unit, highlighting the urgency being applied" by new CEO Kasper Rorsted to "turn around a business that’s weighed on the sporting-goods maker for years," according to Ricadela & Jarvis of BLOOMBERG NEWS. Rorsted on Thursday "unveiled plans  ...

Tags: Adidas, Reebok, Finance

Adidas Reports Higher-Than-Expected Q3 Earnings

adidas reported "higher-than-expected earnings" for Q3, helped by "double-digit sales increases in its performance business and at its urban wear units Adidas Originals and Neo," according to Ellen Emmerentze Jervell of the WALL STREET JOURNAL. adidas said that net profit in Q3 rose to $429.2M (all ...

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Intel Signs Deal To Acquire VR Company Voke

Silicon Valley giant Intel has signed a definitive agreement to acquire virtual reality company Voke, further expanding its interests in sports. Intel in March led a $12.5M Series A round of venture capital funding for Voke, and less than eight months later, has acquired Voke outright, buying out ...

Tags: Finance

Battle At Bristol Helps SMI's Q3 Earnings

SMI this morning announced a mixed bag for its Q3 earnings report, as admissions revenue for core events was down but profit from non-core events was up sharply on the back of the Battle at Bristol college football game. For the quarter ended Sept. 30, total revenue was $170.7M, up 16% from last yea ...

Tags: Finance, Speedway Motorsports Inc.

Kevin Plank Tries To Quash Investor Fears

Under Armour Founder, Chair & CEO Kevin Plank yesterday "attempted to quash investor fears" as  UA's stock fell , "saying the company is still growing fast just not at a pace as previously projected," according to Holden Wilen of the BALTIMORE BUSINESS JOURNAL. UA CFO Chip Molloy told ...

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Under Armour Has Slowest Sales Growth In Six Years

Under Armour this morning "reported its slowest quarterly sales growth in six years, hurt by slowing growth in North America, its biggest market," according to Kuruthukulangara & Ganesan of REUTERS. Research agency Conlumino retail analyst Carter Harrison said that although net sales in Nor ...

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SeatGeek Sues ScoreBig For At Least $2M

SeatGeek has filed a lawsuit against embattled ticket outlet ScoreBig in New York State Supreme Court, seeking compensatory damages of at least $2M. SeatGeek in its summons alleges ScoreBig “improperly failed to pay brokers for tickets for future listing on SeatGeek’s platform. As a resu ...

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