Callaway Golf's Q3 Revenue Beats Projections Under Armour's Apparel & Footwear Sales Rise By 29% TPG Takes 53% Majority Stake In CAA Overseas Group Launching Bid To Buy Reebok ISC's Q3 Revenues Jump 11% Oyo Sports Gets $11M Equity Infusion Nike Revenue Up In Q1 Gametime Closes On Venture Capital Round Cox Enterprises Buys Mobile Outfit Experience Wasserman Receives $100M Investment
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SBD Article Published October 24, 2014
Callaway Golf reported "higher revenue and a smaller loss" for its FY Q3 than analysts expected, "thanks mostly to market share gains, lower operating costs and foreign currency hedges," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE. Callaway "posted quarterly sales" of $169M, above the $161M estimate of Wall Street. Sales were 5% "lower than the same quarter last year, but that was because of the timing of new product launches." Callaway lost $1M, or 1 cent per share, in a quarter...
SBD Article Published October 23, 2014
Under Armour said that its apparel and footwear sales "shot up 29% in the latest quarter, helping drive a surge in revenue," according to Erin McCarthy of the WALL STREET JOURNAL. The company "again raised its outlook for sales for the year and now expects revenue" of $3.03B, compared with its prior forecast of $2.98-3B. For the latest quarter, its top line "sharply beat market expectations." UA said that apparel sales grew 26% to $704.6M amid "expanded offerings across training, golf, and ou...
SBD Article Published October 21, 2014
Ft. Worth-based investment firm TPG Capital yesterday said that it "had taken a majority stake in Creative Artists Agency, further tying it to the business of representing movie stars and prominent athletes after first buying into the industry powerhouse four years ago," according to Michael de la Merced of the N.Y. TIMES. TPG will now "own over half of CAA," and the move is "the latest sign of the financial world’s continued interest in the agency business." CAA "has long sought to push into...
SBD Article Published October 20, 2014
A consortium of investors from Hong Kong and Abu Dhabi "is launching a bid to buy Reebok" from adidas in a move that, "if successful, would unwind an eight-year-old marriage of sneaker makers that has shown disappointing results," according to Maureen Farrell of the WALL STREET JOURNAL. Sources said that Jynwel Capital, the "investment arm of the billionaire Low family of Asia, and funds affiliated with the government of Abu Dhabi planned to send a letter to Adidas directors imminently, offer...
SBJ Article Published October 20, 2014 by Daniel Kaplan
The Barclays Center is up for sale, with investment bank Evercore Partners expected by next week, sources said, to formally begin selling Forest City Enterprises’ 55 percent stake in the Brooklyn arena. The venue ranks as the most popular arena in the country, based on ticket sales for concerts in the first six months of the year, according to Pollstar. And beginning next year, in addition to the Brooklyn Nets, it will be home to the NHL’s New York Islanders. Indeed, if one of those two tea...
SBJ Article Published October 13, 2014
Rick Perna, a sports banker at Citigroup, has left to run the advisory practice at Park Lane. Perna Park Lane is a 10-year-old boutique sports mergers and acquisitions agency that has overseen deals such as selling team limited partner stakes, to raising funds for action sports companies. Andrew Kline, a former NFL player who is a founder of the firm, will move from running sports to managing Park Lane’s merchant banki...
SBD Article Published October 08, 2014
Related stories: ISC Could Look Into Further Seat Reductions At Some Of Its Tracks Daytona Int'l Speedway Gets Go-Ahead For Major Track Renovation ISC Announces Plans For Mixed-Use Development Near Daytona HQ Increases in "television broadcast licensing revenues and in sales of food, beverages and merchandise at its tracks contributed to a double-digit increase in third-quarter revenues for International Speedway Corp.,” according to Clayton Park of the Daytona Beach NEWS-JOUR...
SBD Article Published October 07, 2014 by Eric Fisher
Mandalay Sports Media has led an $11M equity financing round for Massachusetts-based toymaker Oyo Sports, which produces licensed mini-figures for athletes in numerous major pro sports. Oyo is perhaps best known for the recent digital film it produced recreating the highlights of retired Yankees SS Derek Jeter's career using the toys, a clip that quickly went viral. The funds will be used to fuel an expansion campaign that will include a push to move Oyo into the digital world. Mandalay CEO ...
SBJ Article Published October 06, 2014 by Daniel Kaplan
finance. ...t is very unusual,” said Mitchell Ziets, a sports finance adviser who has consulted for the Falcons in the... ...dition, SunTrust is headquartered in Atlanta, and finance sources said the bank’s sports finance group is intent to win such a big deal in its bac... ...ank of America is also a powerhouse in the sports finance world.
SBD Article Published September 26, 2014
Nike on Thursday reported Q1 revenues of $8B, a 15% increase “over the same period last year,” according to Allan Brettman of the Portland OREGONIAN. Profits in Q1 rose 23% to $962M from $779M during the same period last year. Revenues for Nike’s Converse brand were up 16% to $575M, while revenues for the Nike brand itself -- “the bulk of overall revenues” -- were up 15% to $7.4B. Operating overhead expense increased 19% to $1.6B “on higher costs from expanding the company’s direct-to-consume...
SBD Article 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...
SBD Article 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...