Finance

South Korean private equity firm buys TaylorMade

Daily / Tuesday, May 11, 2021
TaylorMade Golf again "has changed hands, with KPS Capital Partners striking a definitive agreement through an affiliate to sell the club maker to South Korean-based private equity firm Centroid Investment Partners." Financial terms were not disclosed, but it was reported in February that KPS Capital Partners "had pitched an...

Callaway Golf has strong Q1, aided by surging demand and Topgolf acquisition

Daily / Tuesday, May 11, 2021
Callaway Golf rode the "resurgence of the sport's popularity coming out the pandemic, e-commerce apparel sales and the acquisition of trendy high-tech driving range operator Topgolf" to post "record revenues and solid net income in the first quarter," according to Mike Freeman of the SAN DIEGO UNION-TRIBUNE....

Endeavor seeing success in first two weeks of public trading on NYSE

Daily / Tuesday, May 11, 2021
Endeavor is trading at $29.70 per share at deadline after making its NYSE debut on April 30 at $24, and to say the company's second attempt at an IPO has been a "bonanza" for CEO Ari Emanuel and Exec Chair Patrick Whitesell "would be an understatement," according...

Just Women's Sports gets $3.5M in seed funding

Daily / Monday, May 10, 2021
A group of well-known investors, including Kevin Durant and Rich Kleiman ’s Thirty Five Ventures and Elena Delle Donne , are part of a $3.5M seed funding round in the newly launched media platform Just Women’s Sports. Other investors in this seed funding round include...

Genius Sports continues recent roll with $200M deal for Second Spectrum

Daily / Friday, May 7, 2021
Genius Sports has "agreed to buy Second Spectrum, a provider of cutting-edge data tracking and visualization technology," for $200M, according to I-Chun Chen of the L.A. BUSINESS JOURNAL. Genius Sports said that it is a "cash-and-stock deal." L.A.-based Second Spectrum was founded in '13 and is a "fully integrated...

Genius Sports buying Second Spectrum for $200M

Daily / Friday, May 7, 2021
Genius Sports has "agreed to buy Second Spectrum, a provider of cutting-edge data tracking and visualization technology," for $200M. Genius Sports said that it is a "cash-and-stock deal." L.A.-based Second Spectrum was founded in '13 and is a "fully integrated sports artificial-intelligence provider, offering tracking, analytics and data visualization...

Live Nation report details rough financial year

Daily / Friday, May 7, 2021
Live Nation’s Q1 earnings report "showed that the concert industry is just beginning to revive." The company "had a rough quarter," as its adjusted operating income loss was $152M. Year over year "reflected how rough the past 12 months" have been: Concert revenue was down 76% from $993.4M to...

Adidas reports better-than-expected Q1 revenue

Daily / Friday, May 7, 2021
Adidas is "fighting its way back to pre-pandemic levels," reporting Q1 revenues grew 27% to $6.36B. The results were "slightly higher than consensus estimates and the company adjusted its outlook upwards for the full year, predicting growth in the high mid-teens" by the end of '21. Direct-to-consumer "made up...

MSG Sports sees positive returns in Q3 financial reports

Daily / Wednesday, May 5, 2021
MSG Sports published its Q3 financial results this morning, with $183M in revenue and an operating income net of $8.1M, a positive sign considering it posted operating losses each of the previous three pandemic-impacted quarters. Revenue and net income were down from Q3 of '20, though those comparisons have...

Under Armour beats industry expectations with strong Q1

Daily / Tuesday, May 4, 2021
Under Armour in today's Q1 earnings report "beat Wall Street estimates" and "raised its financial guidance for the rest of the year," according to Holden Wilen of the BALTIMORE BUSINESS JOURNAL. UA "experienced growth in all regions of the world except Latin America." It also "cut its sponsorship commitments...