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SBJ/June 18 - 24, 2001/Special Report
Global Sports Inc.
Published June 18, 2001
Global Sports Inc.
A year ago, it seemed unlikely Global Sports would be one of the last large sports Internet survivors. Names like Quokka, Total Sports, Fogdog, Chipshot.com and MVP.com were all the rage, with their sexy plans ranging from broadcasting on the Internet to e-commerce. Now they are history.
Boring Global Sports, which operates sporting-goods Web sites for 16 major retail operations, ranging from Kmart's Bluelight.com to sports giant The Sports Authority, has no brand it is trying to tout. While MVP.com, for example, was out spending millions of dollars touting its affiliation with Michael Jordan and John Elway, Global Sports was busy doing the dirty work of putting together a realistic business model.
It keeps roughly 92 percent of every transaction it handles on partners' behalf and fulfills almost all of its orders from its Louisville, Ky., warehouse.
Now it is one of only two public independent sports Internet companies, the other being SportsLine.com. It's just the one you have never heard of.
CEO: Michael G. Rubin
Price as of June 11: $5.91
52-week price range: $2.38 to $11.13
IPO date: Dec. 22, 1997*
IPO price: $3.13*
IPO performance: Up 89%*
Shares outstanding: 31,427,752
Inside ownership: 19,982,577 (59.2%)
Number of employees: 370
* First day of trading after merger with publicly held shoemaker Rykä.
Board of directors:
Kenneth J. Adelberg — A director since July 1995, Adelberg is president and CEO of The HiFi House Group of Cos. (Owns 45,650 shares)
Ronald D. Fisher — A director since March 2000, Fisher is vice chairman of Softbank Inc. (Owns no shares)
Harvey Lamm — A director since March 1998, Lamm is a director and CEO of Vintek Corp., a privately held company specializing in automated title and risk management for automotive finance institutions. (Owns 12,260 shares)
Mark Menell — A director since April 2000, Menell is a partner in Rustic Canyon Group, formerly TMCT Ventures, a $550 million venture capital fund focused on growth companies. (Owns no shares)
Mike Perlis — A director since May, Perlis is a venture partner at Softbank Capital Partners. (Owns no shares)
Dr. Jeffrey F. Rayport — A director since May 1999, Rayport is executive director of the Monitor Marketspace Center, the technology and e-commerce media unit of Monitor Co. (Owns no shares)
Jordan M. Copland, executive vice president and CFO (2000 salary: $125,769; bonus: $47,500; other compensation: $23,358; options: 200,000)
Robert W. Liewald, executive vice president, merchandising (2000 salary: $200,000; bonus: $100,000; other compensation: $4,318; options: 25,000)
Arthur H. Miller, executive vice president and general counsel (2000 salary: $200,000; bonus: $100,000; other compensation: $3,846; options: 50,000)
Michael R. Conn, senior vice president of business development (2000 salary: $162,500; bonus: $24,375; other compensation: $498; options: 70,000)
Largest outside shareholders:
Interactive Technology Holdings LLC (a joint venture company formed by Comcast Corp. and QVC Inc.) — 9.5 million shares (26.4%)
Softbank Affiliates — 9.9 million shares (30.3%)