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Online Sports Gear Marketplace SidelineSwap Completes $2M Funding Round

Published in SportsBusiness Daily on 10 / 11 / 17

SidelineSwap, a Boston-based online marketplace for sports gear and equipment, has completed a $2M seed extension funding round. Investors include Global Founders Capital, F1 Managing Dir of Commercial Operations Sean Bratches, SeatGeek investor Haystack Partners and The Players Impact, an investmen...

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Nike Reports Better-Than-Expected Earnings For FY '17

Nike on Thursday announced "better-than-expected" Q4 and FY '17 earnings after a "bruising time of lost momentum and disappointing North American sales that led to a rare layoff earlier this month ," according to Jeff Manning of the Portland OREGONIAN. Powered by "strong international sales gains," ...

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How Nike Decided To Partner With Amazon

Behind Nike's decision to "reverse course" and  sell some products directly through Amazon lies a "dramatic shift in the balance of power" between brands and the e-commerce site, according to a front-page piece by Stevens & Germano of the WALL STREET JOURNAL. The "explosion of third-party ...

Tags: Nike, Amazon, Finance

Nike To Sell Some Products Directly Via Amazon

Nike has "agreed to sell some of its products directly" through Amazon, a "concession by the sneaker giant that it can no longer afford to ignore the online retailing behemoth," according to a source cited by Germano & Stevens of the WALL STREET JOURNAL. While Nike sells its shoes and sport ...

Tags: Nike, Finance, Amazon

FTC Outlines Opposition To DFS Merger

The FTC late yesterday released its written complaint against the proposed DraftKings-FanDuel merger, marking its formal move to block the deal. The FTC’s administrative complaint strongly rejects a central argument from the daily fantasy companies that they are a subset of a much larger and s ...

Tags: Finance

FanDuel, DraftKings Plan To Appeal FTC's Efforts

FanDuel and DraftKings are "planning to hit back at government attempts to block their controversial merger," according to Josh Kosman of the N.Y. POST. A November agreement to merge the two daily fantasy sports sites attracted lawsuits yesterday from the FTC, as well as the California and DC a ...

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MLS Buys Back Its 25% Stake In Soccer United Marketing

MLS has bought back its 25% stake in Soccer United Marketing that it sold to Providence Equity Partners in '12. Providence paid $125-150M for the stake. MLS had a put option on the stake and had been in negotiations for over a year to execute it ( Daniel Kaplan, Staff Writer ). Sources said that P ...

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Nike Cutting 2% Of Its Global Workforce

Nike announced today that it will cut 2% of its global workforce as it "restructures to more quickly get products in the hands of consumers and respond to a rapidly changing consumer landscape," according to Matthew Kish of the PORTLAND BUSINESS JOURNAL. Nike is "adapting to a consumer shift to onli ...

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WTC Buys Rock 'N' Roll Marathon Series

Ironman owner World Triathlon Corp. has acquired the Rock ’n’ Roll Marathon series. With the deal, WTC adds 29 annual running events, including seven outside the U.S., to its growing stable of participatory endurance properties. Terms are not known. Spokespersons for Ironman and the Comp ...

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UA's Plank Addresses Dip In Stock Price

Under Armour Founder, Chair & CEO Kevin Plank yesterday said the company's stock has "not held to the standard that all of us as shareholders have come to expect after 12 years as a public company," according to Lorraine Mirabella of the Baltimore SUN. Addressing about 300 shareholders at UA's B ...

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Dick's To Scale Back New Store Openings

Dick’s Sporting Goods sales at existing stores fell short of forecasts in Q1, and the chain said that it "plans to scale back new store openings," highlighting the "continuing challenges facing sporting-goods retailers,"   according to Sara Germano of the WALL STREET JOURNAL. Dick's  ...

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