The NBA is adding a new event to its All-Star Weekend: the HBCU Classic. Next year’s contest will see Howard take on Morgan State in Cleveland – with over $ 1 million donated to the HBCUs during the weekend’s festivities.
A letter from Congress could explode a scandal the NFL has taken steps to contain.
Two members of Congress asked for more 650,000 emails related to the league’s investigation of the Washington football team in a nine-page document letter to NFL commissioner Roger Goodell.
House Oversight Committee Chair Representative Carolyn B. Maloney (D-NY) and Economic and Consumer Policy Subcommittee Chair Representative Raja Krishnamoorthi (D-Ill) said that “the NFL has one of the most important platforms in America, and its decisions may have national implications. “
The allegations against the team include the surreptitious recording of female employees stripping naked, an obscene video of a WFT cheerleader photoshoot made for senior executives, including team owner Dan Snyder, as well as verbal abuse and sexual harassment pervasive throughout the organization.
NFL fined the team $ 10 million in July after the conclusion of the investigation, led by lawyer Beth Wilkinson.
The representatives questioned the independence and transparency of the investigation, noting that the league requested an oral and unwritten report from Wilkinson.
In March, Snyder agreed to buy the 40% of the team he had not owned for nearly $ 1 billion. He had previously accused co-owner Dwight Schar of carrying out an extortion campaign against him, following reports that Snyder had settled an allegation of sexual misconduct for $ 1.6 million.
Earlier this month, the team’s offices were raided by the Drug Enforcement Agency as part of a separate investigation into its head athletic trainer, Ryan Vermillion.
JD Sports / Design: Alex Brooks
Last month, JD Sports reported a record pre-tax profit of $ 505.9 million for the first half of the year. Today, the sports retailer has acquired 80% stake in Cosmos Sports, based in Greece.
With 57 stores in Greece and three in Cyprus under various banners, Cosmos will strengthen JD’s footprint, adding to more than 3,300 stores JD Sports already has it all over the world.
EOS Capital Partners soldthe 30% stake it acquired two years ago and the family of founder Fragiskos Tsiknakis lowered their stake to 70%. Saved Cosmos $ 60.5 million in revenue Last year.
Cosmos is just one of many acquisitions by JD Sports over the past year.
The British retailer has bought an 80% stake at Barcelona-based online sports retailer Deporvillage.
He bought a 60% stake in the Polish sports fashion company Marketing Investment Group.
It acquired California-based Shoe Palace for $ 325 million and Baltimore-based retailer DTLR Villa for $ 495 million.
He also bought Manchester-based clothing retailer Oi Polloi.
JD Sports is interested also acquiring UK-based e-commerce retailer Missguided. He could, however, be forced to sell Footasylum – which he bought for $ 124 million in 2019 – over concerns from the UK Competition and Markets Authority.
Outdoor clothing, sportswear and footwear giant VF Corporation fell short of expectations with its latest earnings report on Friday.
The Denver-based company – which owns Timberland, Vans, Supreme, and The north face – generated $ 3.2 billion in fiscal second quarter revenue, missing estimates of $ 3.5 billion.
VF’s numbers in individual segments and regions were a plus.
No stores were closed in North America, Europe, the Middle East or Africa in the second quarter.
Its outdoor segment posted revenue of $ 1.5 billion, up 31% year-on-year.
The company’s active segment, led by Vans, generated $ 1.34 billion in the second quarter, up 16%.
Annual revenue is expected to reach $ 12 billion, a 30% increase from fiscal 2021.
VF wholesale trade has been hampered by shipping delays and logistical challenges.
“Virtually all of our brands are experiencing delays in collections, styles and in some cases insufficient size assortment,†VF CFO Matt Puckett said on a earnings conference call.
about one trimester of the company’s products are made in Vietnam, which has closed its production plants since July due to COVID-19 outbreaks.
In today’s Leadoff, Softbank is investing heavily in sports, FTX hits a $ 25 billion valuation, Formula 1 is making a comeback in North America, and Equinox is in talks to go public. Click here to listen.
Google is lowering its reduction in Play Store subscriptions for all app developers from 30 to 15% of revenue. The change will be implemented on January 1, 2022.
Jen Mueller is a sports broadcaster for ROOT SPORTS Northwest. She covers the Seattle Mariners, Kraken, and works as a Seahawks secondary reporter. Sports section sitting with Mueller to discuss his career and level the playing field. Subscribe to the Sports section for more conversations with sports personalities.
2021 has seen an explosion in the widespread adoption of cryptocurrencies, NFTs, and blockchain technology. In our latest webinar, Thursday, October 28 at 1 p.m. ET, listen to FTX’s Head of Brand Partnerships to learn how they became one of the leaders in the sports and crypto landscape. Register now.
(Note: All at market close on 10/22/21)
Find out exactly what’s happening in the private markets each week with highlights from our Front Office Sports Insights Deal Tracker.
We carefully monitor public and private market data to give you an idea of ​​what the sports landscape looks like.
Highlights from Insights Deal Tracker this week:
Candy Digital, the Fanatics-owned company that builds MLB’s NFT ecosystem, received $ 100 million in seed funding at a valuation of $ 1.5 billion in a cycle led by SoftBank.
Fitness and sportswear company Spanx was valued at $ 1.2 billion after a takeover by mega-investor Blackstone.
Animoca Brands, developer and publisher of games and applications for mobile devices in Hong Kong, received $ 65 million in a growth cycle led by Sequoia China and Ubisoft.
GSN Games, operator of an entertainment platform offering social and skill casino games, has been acquired by Scopely for $ 1 billion.
PlayTech, a software developer that enables customers to create and market casino games, was acquired for $ 3.7 billion in a merger and acquisition transaction with casino company Aristocrat .
Try the full Deal Tracker here.
Week 7 of the NFL season pits rookie QB Justin Fields against the Chicago Bears versus defending champion Tampa Bay Buccaneers and eternal Tom Brady.
Chicago is heading to the Sunshine State needing a win to keep pace in the NFC North to face a pulling Bucs team sitting 5-1 to open the season.
Respond to this newsletter with your prediction for the Bears-Buccaneers winner and the final score. Tune in to see if the Chicago defense can do enough to slow Brady and an elite receiving corps.
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