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Blue Star Sports Continues Growth In Youth Athletics; May Buy Another 15-20 Companies

Published in SportsBusiness Daily on 09 / 18 / 17

In about a year and a half, Jerry Jones-backed Blue Star Sports has “become a force in the youth sports industry, with ties to some of the biggest names in professional sports,” according to Melissa Repko of the DALLAS MORNING NEWS. Blue Star Sports has raised more than $200M in funding ...

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Sources: VF Selling Sports Group To Fanatics

NFL owners later today at meetings in Phoenix are scheduled to vote on proposals surrounding the transfer of the NFL business held by VF’s Licensed Sports Group (LSG) to Fanatics. Sources said this means VF is close to selling its licensing business to Fanatics, and the sale should be official ...

Tags: Finance, Majestic Athletic, VF Corp.

Angels P Talks Committing Future Earnings To Fantex

Angels P Andrew Heaney 18 months ago "agreed to commit 10% of his future earnings" to Fantex investors in exchange for $3.34M up front, an "unprecedented transaction" for a current MLBer, according to Pedro Moura of the L.A. TIMES. At first, Heaney was "skeptical of the company, Fantex, suggest ...

Tags: Finance, Los Angeles Angels

MJ's Son Partners With Tech Startup WaitTime

Jordan Avakian Group, co-founded by Jeffrey Michael Jordan and Sevan Avakian, has "acquired private equity" in Detroit-based crowd-science startup WaitTime for an "undisclosed amount," according to Tyler Clifford of CRAIN'S DETROIT BUSINESS. WaitTime uses "artificial intelligence technology to provi ...

Tags: Finance

Nike Posts Solid Q3 Amid Adidas Resurgence

Nike "blew away Wall Street profit projections" in Q3 as some industry analysts had predicted the company would "post its first profit decline in four years," according to Jeff Manning of the Portland OREGONIAN. Nike after the markets closed yesterday reported sales of $8.4B, up 5.5% but " ...

Tags: Nike, Finance

GoPro To Cut 270 Full-Time Jobs

GoPro yesterday announced that it will "cut 270 full-time jobs to lower operating expenses" after "mounting quarterly losses, botched product launches, and having its stock price hit record lows," according to Tracey Lien of the L.A. TIMES. GoPro in a statement said that the cuts would "no ...

Tags: Finance, GoPro

Dodgers Owner Leads $100M DraftKings Investment

DraftKings has raised more than $100M in a private investment round led by Dodgers co-Owner Todd Boehly's Eldridge Industries, and the infusion of cash "bolsters the company’s finances as it awaits federal review of its proposed merger" with rival FanDuel, according to a source cited by Curt W ...

Tags: Finance

Adidas' CCM Hockey Brand Up For Sale Again

While Adidas is performing well as a company lately, its CCM Hockey brand is on the block for the "second time in less than a year," and speculation as to "who the interested buyers might be has already begun," according to Barbara Shecter of the FINANCIAL POST. Toronto-based Brookfie ...

Tags: Finance, CCM

Dick's Ed Stack Outlines Plan To Grow Market Share

Dick's Sporting Goods Chair & CEO Ed Stack in an earnings call yesterday "outlined how his company will continue grabbing share amid consolidation in the industry," according to Krystina Gustafson of CNBC.com. His strategy includes "opening stores in markets where competitors' bankruptcies left ...

Tags: Finance, Dicks Sporting Goods

SMI's Total Revenue For FY '16 Up 3%

SMI this morning reported Q4 and full-year ’16 earnings, and it was another mixed bag for the track operator. For the quarter, which encompassed six NASCAR races, one NHRA race and a Red Bull Air Race, total revenue was down 5% due to weakness in admissions and event-related revenue. SMI attri ...

Tags: Finance, Speedway Motorsports Inc.

Churchill Downs Inc. Net Income Of $108.1M In '16

Churchill Downs Inc. had net income of $108.1M in '16 on record revenues of $1.31B, up sharply from net income in '15 of $65.2M on revenues of $1.21B, "despite weak results at several of its racetracks and stagnating casino revenues," according to financial statements cited by Matt Hegarty of the DA ...

Tags: Finance, Churchill Downs Inc.

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