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StubHub Sees 32% Revenue Growth For Q3, But Warns Of Lower Numbers In Q4

Published in SportsBusiness Daily on 10 / 20 / 16

StubHub during its Q3 that ended Sept. 30 generated $263M in revenue, up 32% from the comparable period last year, and $1.1B in gross sales, up 23%, according to earnings released late yesterday by corporate parent eBay. Baseball was credited for the growth at the ticket resale marketplace, along wi...

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Sports Authority Examining Bankruptcy Options

As Sports Authority "sails into the choppy waters of Chapter 11 bankruptcy protection, the troubled sporting goods retailer and its creditors are exploring two options: Give a buzzcut to $1.1 billion in unwieldy, outstanding debt; slim down the operations; and emerge lean and competitive" or "s ...

Tags: Finance, Sports Authority

Adidas Eyes Strong '16 Forecast

adidas today said that it "expected sales and net profit to rise at a fast pace" in '16, helped by "aggressive marketing and big events" like the UEFA Euro '16 and the Rio Games, according to REUTERS. The upbeat forecast "came as the company reported a fourth-quarter net loss" of about $48M (all fig ...

Tags: Adidas, Finance

Leonsis Starts Sports Tech Venture Capital Fund

Monumental Sports & Entertainment Founder Ted Leonsis is starting a $10M venture capital fund to "invest in tech startups with the potential to change the way we watch and experience sports," according to Robert Terry of the WASHINGTON BUSINESS JOURNAL. Leonsis "revealed his plans ...

Tags: Finance

Sources: Sports Authority Considers Selling To Dick's

Sports Authority, which is reportedly preparing to file for bankruptcy , has "discussed selling stores and intellectual property to rival chain Dick's Sporting Goods" and other parties, according to sources cited by Lauren Coleman-Lochner of BLOOMBERG NEWS. A source said that the Dick's transaction ...

Tags: Finance, Sports Authority, Dicks Sporting Goods

DraftKings Turns To Debt To Avoid Equity Price Drop

Investors "funded fewer U.S. startups in the fourth quarter than any period in more than four years," and some companies, like DraftKings, are "turning to debt, which lets them raise money without setting a lower price for their equity -- ducking for the moment a potential reckoning with investors," ...

Tags: Finance

Sports Authority Plans To Close 140 Stores

Sports Authority plans to "shutter about 140 of its 450 stores," according to a source cited by Alicia Wallace of the DENVER POST. It is "unknown how many" of the retailer's 31 Colorado locations "may be targeted for closure." The closures come as Sports Authority, the "fourth-largest sporting ...

Tags: Finance, Sports Authority

Adidas Raises Outlook After Exceeding Targets

adidas today "raised its outlook for the second time in four months after exceeding its revenue and profit targets" for '15, according to Ellen Emmerentze Jervell of the WALL STREET JOURNAL. Based on preliminary figures for '15, adidas said that Q4 net profit rose 12% on the year to $813.3 ...

Tags: Finance, Adidas

Disney's Iger Argues Again For ESPN

Disney Chair & CEO Bob Iger yesterday tried to "counter the arguments that ESPN’s business is in decline" following Disney's Q1 earnings report, claiming the cable net has "experienced an uptick in subscriber numbers in the past couple of months," according to Ben Fritz of the WALL ST ...

Tags: Finance, ESPN

Fox Marks Down Investment In DraftKings

The $160M investment Fox Sports made last summer in DraftKings for an estimated 11% equity stake has declined in value by about 60% to $65M. A quarterly filing by 21st Century Fox to the SEC did not detail the reasoning behind Fox’ sharp markdown in valuation for DraftKings, but said that base ...

Tags: Finance, Fox

Sources: Sports Authority Preps For Bankruptcy

Sports Authority is "preparing to file for bankruptcy as it faces a debt payment due in 10 days," according to sources cited by Klein & Coleman-Lochner of BLOOMBERG NEWS. The sources said that the retailer is "in talks with lenders including TPG Capital Management LP on a deal to reorganize in C ...

Tags: Sports Authority, Finance

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