Chinese company Anta Sports Products Ltd. is "gearing up" for the Olympic Games in Asia with a €4.7B ($5.5B) approach for "one of the world's biggest sports equipment makers." Amer Sports Oyj of Finland, which owns Wilson Sporting Goods as well as the Atomic and Salomon ski equipment brands, confirmed a report that it "received takeover interest from an investor group backed by the Chinese company." The move comes "amid a Chinese government-led push to expand in sports ranging from soccer to skiing" (BLOOMBERG, 9/11).
Sports Direct "must hand over documents as part of an accounting regulator's investigation" into its '16 financial results, a London judge ruled. The U.K. Financial Reporting Council is "probing the conduct of audit firm Grant Thornton and one of its employees after they failed to disclose a business relationship" between Sports Direct Owner Mike Ashley and his brother (BLOOMBERG, 9/11).
JD Sports promised on Tuesday to "back up its purchase of U.S. chain Finish Line" by investing £200M ($260.4M) over the next five years after "overseas growth helped fuel" a 19% rise in first-half earnings. CFO Brian Small said that the company, now Britain's biggest sportswear retailer with about 1,500 outlets in 16 countries, "could bring forward plans for a continental European warehouse due to Brexit." Revenue rose 35% in the six months to Aug. 4 at the chain (REUTERS, 9/11).
Esports organization Team Liquid reported a growth of 465% from '17. Team Liquid Owner and co-CEO Steve Arhancet said, "It's testament not just to our winning record, but to sponsors and brands seeing more and more value in partnering with global organizations like us" (THE ESPORTS OBSERVER, 9/11).
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