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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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StubHub Goes Away From "All-In" Pricing

Less than two years "after shifting to 'all-in' pricing, ticket-resale giant StubHub is reversing course and returning to its old system of adding 15% to 17% at the last minute," according to Ethan Smith of the WALL STREET JOURNAL. StubHub’s market share "has declined precipitously, according ...

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Dalian Wanda Buys Ironman For $650M

China-based Dalian Wanda Group today said that it has "bought the organiser of Ironman Triathlon races" for $650M in a "diversification push that the property developer said may involve another sports purchase by year-end," according to Zhang & Miller of REUTERS. Wanda bought World Triathlon Cor ...

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NYRA's Operating Loss Spikes Despite Triple Crown

NYRA yesterday “reported an operating loss from racing operations” of $6.1M for the first half of '15 “before income from video lottery terminals are factored in," 25.5% larger than the $4.9M operating deficit for racing during the same period last year, according to Casey Seiler o ...

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IMG College Buys TopShelf For Hospitality

IMG College has bought TopShelf, "whose turnkey vehicles and services have been used for several years by NASCAR and PGA corporate sponsors to entertain clients and employees," according to Richard Craver of the WINSTON-SALEM JOURNAL. TopShelf now "operates within IMG College’s business ventur ...

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Adidas Seeking Buyer For Golf Brands

adidas is focused on "finding a buyer for Adams," a brand within its TaylorMade golf unit that "makes clubs for beginners, and the Ashworth polos and cardigans business," according to Aaron Ricadela of BLOOMBERG NEWS. But adidas Chair & CEO Herbert Hainer "isn't ruling out exiting the entire bus ...

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Adidas Could Spin Off Golf Unit

adidas today reported a slight rise in Q2 earnings "supported by strong sales in China and Western Europe," but the company noted it could "shed its golf unit," according to Ellen Emmerentze Jervell of the WALL STREET JOURNAL. The company said that net profit rose 1.4%, or $159M year-over-year. Sale ...

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Adidas Buys Fitness App Runtastic For $239M

adidas yesterday announced that it has "acquired all outstanding shares" of Austria-based fitness app and wearable activity tracker developer Runtastic in a deal that valued at $239M, according to Gregory Schmidt of the N.Y. TIMES. Runtastic "counts 70 million registered users," and adidas can now " ...

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Chime Sold To WPP, Providence Equity

Chime Communications "has agreed" to a $585M joint takeover offer from global advertising/PR conglomerate WPP and U.S.-based Providence Equity Partners, according to Aglionby & Cookson of the FINANCIAL TIMES. Chime Chair Mervyn Davies said while the company had "achieved great success in bu ...

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Callaway Golf Reports Mixed Q2 Results

Callaway Golf yesterday "posted mixed financial results" for its Q2, with earnings beating analyst expectations "despite lower than anticipated sales," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Callaway reported revenue of $231M, "flat with the same quarter last year but slightly bel ...

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CDI Reports Record Quarterly Revenue

Churchill Downs Inc. yesterday announced that it had "record revenue" of more than $409M "in the quarter that ended June 30," according to Janet Patton of the LEXINGTON HERALD-LEADER. CDI reported earnings "were down" 3% to $55M. Year-to-date, CDI has reported earnings "were down" 6% to $53.5M. Howe ...

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