Finance
Fanatics posts record-setting Black Friday
Fanatics set a company record for single day sales on Black Friday, and combined Thanksgiving Day and Black Friday sales marked the company’s best 48 hours, with sales up more than 20% year-over-year on those days. Sales on the Fanatics app were up 285% YOY on Black Friday, and it marked the app’s b...
Grand Slam Track asks vendors to accept losses to avoid bankruptcy
Grand Slam Track has “sent letters to vendors collectively owed millions of dollars telling them that they need to accept half of their total owed monies, or the league risks going into bankruptcy.” Multiple vendors said that “if they want to accept the offer, they must do so by” Friday. All vendors...
Dundon largely prevails in Alliance of American Football bankruptcy case
A Texas bankruptcy judge on Tuesday “ruled largely in favor of” Hurricanes owner Tom Dundon in a bankruptcy case related to the Alliance of American Football, which “collapsed shortly after Dundon became its biggest investor.” Since then, investors and vendors have “battled in bankruptcy court, incl...
Yankee Stadium generated $340M in tickets, suite sales for 2025 regular season
Yankee Stadium generated $339.5M in aggregate ticket and premium suite licensing revenue through the end of September, according to a new disclosure related to stadium bonds.
U.S. private equity firm to invest $100M in Mexican football league
Global Sports Capital Partners has made the first U.S. private-equity investment in a Mexican sports league, with a plan to give $100M of combined investment over the next seven years to México’s American football league, Liga de Fútbol Americano. The investment opportunity was initiated by former N...
Dick’s Sporting Goods to close some Foot Locker stores amid restructure
Dick’s Sporting Goods is “planning to close a slew of Foot Locker stores” following its acquisition of the company. It is “unclear how many stores Dick’s plans to shutter.” Dick’s Exec Chair Ed Stack said that the closures are “part of a larger restructuring it’s implementing so Foot Locker isn’t a ...
Solheim Cup boosts LPGA revenue to record in 2024
The LPGA brought in a record $252M in revenue in 2024, a gain of nearly $44M over 2023 as the tour hosted the Solheim Cup team competition near D.C. The LPGA provided a copy of its recently filed Form 990 upon request by Sports Business Journal.
SportAI raises $3M, welcomes new chairman, investors
Artificial intelligence-fueled racket sports analysis platform SportAI has raised $3M in new funding. The latest round, which brings the Oslo-based startup’s total raised to $5.7M, includes investment from Norwegian investment firm Altitude Capital, Norwegian tennis star Casper Ruud, U.S. soccer pla...
Nicklaus Companies files for Chapter 11 bankruptcy following defamation suit
Nicklaus Companies, Jack Nicklaus’ former golf course services business, has “filed for Chapter 11 bankruptcy after a Florida court ordered the company” to pay its founder $50M “in a defamation suit,” according to Paula & Torres of BLOOMBERG NEWS. The company’s filing in US Bankruptcy Court in D...
Sports tech market undergoing rapid consolidation — what’s driving it?
The genesis of Hudl was the creation of a video analysis tool to help the University of Nebraska football team in 2006. When the product was commercialized, the New York Jets became the second paying customer as Hudl concentrated on elite American football.
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Quote of the Day
We have to realize we were trying to deal with people that were acting, in some ways, irrationally, just in terms of the capital they were allocating and the money they were spending. It’s been four or five years and there hasn’t been a return yet, but they’re going to have to keep spending that money to even just maintain what they have right now. ... I’m way more comfortable being on the PGA Tour side than on their side but who knows what’ll happen?-- PGA Tour player Rory McIlroy, on LIV Golf's willingness to operate at a massive financial deficit and how it impacts the reunification of men's professional golf.
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