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  • SBD Article

    Mobile Ticketing Company Gametime Closes On $4M Series A Venture Capital Round

    Published September 23, 2014 by Eric Fisher

    Learn more about GAMETIME S.F.-based mobile ticketing company Gametime has closed on a $4M Series A venture capital round, led by Silicon Valley private equity firm Accel Partners. The company is known in part for its extensive investment in SB Nation and parent company Vox Media. Also participating in the Gametime funding round were NBA Kings Managing Partner Vivek Ranadive, and Jeff Mallett, a partner in the MLB Giants and co-Owner and Dir of the Whitecaps and English soccer club Derb...

    Tags: Finance
  • SBD Article

    Cox Enterprises Acquires Mobile Tech Company Experience For More Than $200M

    Published September 18, 2014 by Eric Fisher

    Learn more about EXPERIENCE Atlanta-based Cox Enterprises has acquired mobile technology outfit Experience in a deal valued at more than $200M. Experience, formed in early ’12, is best known for mobile ticket and experiential upgrades at sports events, working with a wide variety of top-tier outfits including Live Nation and Ticketmaster, MLBAM and the NFL. The company earlier this year won Best in Sports Technology at SBJ’s Sports Business Awards. Cox early last year invested in Experienc...

    Tags: Finance
  • SBD Article

    Wasserman Receives $100M Investment From Walton-Owned Madrone Capital Partners

    Published September 15, 2014

    Learn more about Madrone Capital Partners Wasserman Media Group has received a $100M "investment from Silicon Valley-based Madrone Capital Partners," an investment group funded by the Wal-Mart-founding Walton family, according to Tripp Mickle of SPORTSBUSINESS JOURNAL. The investment is "the second that Wasserman Media Group has taken since its inception" in '02. The organization received a $25M investment from N.Y.-based Highbridge Capital Partners in '12 that valued the company betwee...

    Tags: Wasserman Media Group, Finance
  • SBD Article

    New York State OKs Lawsuit Against RBS Relating To '10 Sale Of EPL's Liverpool

    Published September 08, 2014 by Daniel Kaplan

    A second New York State Court has now given the green light to a lawsuit against Royal Bank of Scotland for its actions during the '10 controversial sale of EPL club Liverpool. While British courts have sided with the club and RBS that its actions were sound, two New York state courts now have agreed there is enough evidence to bring to trial a case that RBS violated terms of its loan agreement in arranging the sale to what is now Fenway Sports Group. Last week, the New York State Supreme, a...

    Tags: Finance, Fenway Sports Group, English Premier League
  • SBD Article

    Stats LLC Buys Bloomberg Sports In First Major Move Under Vista Equity Partners Control

    Published September 04, 2014 by Eric Fisher

    Stats LLC has purchased rival sports data and analytics outfit Bloomberg Sports, the company's first major move for Stats since it was acquired in May by S.F.-based private equity firm Vista Equity Partners. The deal will combine the assets of Stats, which has built a global business in sports data distribution and motion tracking through its SportVU unit, with the five-year-old Bloomberg Sports, which has built a solid base in player and predictive analytics, particularly for MLB teams and i...

    Tags: Stats LLC, Finance
  • SBD Article

    Daily Fantasy Sports Company FanDuel Closes $70M Round Of Venture Capital

    Published September 03, 2014 by Eric Fisher

    FanDuel, a N.Y.-based daily fantasy sports company, has closed on a $70M Series D round of venture capital financing, a mammoth round that further highlights the explosive growth for daily fantasy sports. The round also arrives just days after DraftKings Inc., a key rival of FanDuel, closed on its own $41M venture capital round. The FanDuel investment was led by Shamrock Capital Advisors with NBC Sports Ventures, KKR and several other existing investors, while Comcast Ventures also participat...

    Tags: Finance
  • SBD Article

    Ticket Search Engine SeatGeek Closes On $35M In Venture Capital Financing

    Published August 28, 2014 by Eric Fisher

    N.Y.-based ticket search engine SeatGeek has closed on a $35M Series B round of venture capital financing, the latest inflection point of its accelerating growth. The round was led by noted Bay Area venture outfit Accel Partners, but also includes a large group of luminaries from the sports industry. Also participating in the round were Causeway Media Partners, an investment fund led by Celtics CEO Wyc Grousbeck; NFL QBs Peyton and Eli Manning; Melo7Tech, the venture capital outfit formed by ...

    Tags: Finance
  • SBD Article

    Dick's Sporting Goods Beats Q2 Projections, But Struggling Golf Sales Cut Into Profits

    Published August 20, 2014

    Women's and youth apparel "helped drive sales higher at Dick's Sporting Goods" in Q2, although "continued declines in the golf and hunting business cut into profits," according to Chris Fleisher of the PITTSBURGH TRIBUNE-REVIEW. Sales at its Golf Galaxy stores fell 9.3%, and the company "recorded pre-tax charges" of $20.4M from "restructuring its golf business." That included a $3.7M "severance charge related to laying off golf professionals at its Dick's stores." Dick's Chair & CEO Edward St...

    Tags: Finance, Dicks Sporting Goods
  • SBD Article

    ClubCorp Expands Portfolio Of Golf Courses By 45% With Deal For Sequoia Golf Holdings

    Published August 14, 2014

    ClubCorp Holdings yesterday said that it will "buy smaller competitor Sequoia Golf Holdings" for $265M in a deal that will "expand ClubCorp's portfolio of golf and country clubs by roughly 45%," according to Sara Germano of the WALL STREET JOURNAL. ClubCorp, which "went public in September, has an existing stable of 159 membership clubs, including 108 golf and country clubs." The acquisition will "add 43 private and six public golf and country clubs, as well as one sports club." Execs from bo...

    Tags: Golf, Finance
  • SBD Article

    Disney Posts Record Q3 Results Despite ESPN's Higher Costs, Lower Subscriber Base

    Published August 06, 2014

    Skyrocketing sports-rights costs "caught up to ESPN last quarter, providing a setback in an otherwise stellar quarter for Walt Disney Co.," according to Ben Fritz of the WALL STREET JOURNAL. Hit by "a combination of higher costs" for MLB and the FIFA World Cup, as well as "a shrinking subscriber base for ESPN and certain timing issues, operating income at Disney's cable networks group fell" 7% to $1.9B during the quarter ended June 28. It was the "only one of the company's business units not ...

    Tags: Finance, ESPN
  • SBD Article

    Churchill Downs Inc. Earns Record Quarterly Revenue, Sees Growth In All Segments

    Published August 01, 2014

    Churchill Downs Inc. posted Q2 net income of $57.3M on "record quarterly revenue" of $303.7M, according to Matt Hegarty of DAILY RACING FORM. All of CDI's major business segments "experienced growth" in the quarter, with racing revenue from its four tracks "up slightly" by 1%. Revenue from CDI's casinos were up 23% and revenue from the company's "mostly racing-related online business" was up 9%. Racing revenue during the quarter was $159.4M, a figure that "includes revenue" from the Kentucky ...

    Tags: Finance, Churchill Downs Inc.
  • SBD Article

    Adidas Lowers Projections For FY '14, Postpones FY '15 Targets After Q2 Drop

    Published July 31, 2014

    Shares in adidas "tumbled" today after the FIFA Global Partner cut its '14 outlook and postponed '15 targets, "citing risks surrounding Russia and challenges at its golf business," according to Monica Houston-Waesch of the WALL STREET JOURNAL. adidas' Q2 profit fell to $192.7M (all figures U.S.) from the $230.2M reported a year earlier, while sales "rose 2%" to $4.6B. The company "cut its forecast for net profit" in '14 to around $864M from a previous forecast of $1.1-1.2B. adidas also said t...

    Tags: Finance, Adidas
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