Under Armour, Inc. announced that Mohamed A. El-Erian, a board member since 2018, has been appointed lead independent director of the company’s Board of Directors. El-Erian succeeds A.B. “Buzzy” Krongard, who has served in the lead director role since 2006.
Category: Sports/Fitness
Spalding Responds To NBA Sponsorship Change
Spalding said it remains committed to the sport of basketball despite news that its long sponsorship of the NBA as the official game ball will soon end.
Michael Phelps Foundation Expands Children’s Mental Health Program
The Michael Phelps Foundation (MPF) and Panasonic Corporation of North America (Panasonic) announced the expansion of the IM Program offering to Boys & Girls Clubs of America through the organization’s commitment of more than $100,000 in grants to provide social-emotional curricula as children return to clubhouses across the nation.
California’s Fitness Industry Unites To Bring Jobs And Fitness Back
Members of California’s fitness industry have joined together to form the California Fitness Alliance (CFA) with the goal of safely and responsibly initiating the reopening of clubs and fitness facilities throughout the state.
University Of Akron Cutting Three Athletics Programs
The University of Akron said it is eliminating men’s golf, women’s tennis and men’s cross country as part of a plan to reduce 23 percent of its athletics budget.
Nike Partners With The University Of Indianapolis
The University of Indianapolis athletics department entered into a multi-year partnership with Nike through BSN Sports. The agreement, which will commence on July 1 is part of BSN Sports’ Collegiate Select program.
Yue Yuen Q1 Revenues Slump 20.6 Percent
Yue Yuen Industrial (Holdings) Limited, the largest sports footwear manufacturer, recorded revenue of $1.97 billion in the three months ended March 31, representing a decrease of 20.6 percent compared to revenue of $2.48 billion recorded in the same period of 2019.
Technogym’s Q1 Revenues Dropped 11.2 Percent
Technogym recorded a contraction in consolidated revenues of 11.2 percent during the first three months of 2020 compared to the same period in 2019. At constant exchange rates, sales were down 11.9 percent.
Asics Ventures Invests In Israeli Synthetic Spidersilk Startup
Asics Corp. announced that its investment subsidiary, Asics Ventures Corporation, has invested in Seevix Material Sciences Ltd., which was founded in 2014 following over a decade of academic research at the Hebrew University.
Adidas Launches #HOMETEAMHERO Challenge
Adidas plans to launch a virtual sporting event, the #HOMETEAMHERO Challenge, to support essential workers. From May 29 to June 7, for every hour of tracked activity, Adidas will donate $1 to the COVID-19 Solidarity Response Fund for the World Health Organization (WHO), with the goal of reaching one million hours.
Under Armour Partners With The University Of Texas Rio Grande Valley
Under Armour has become the official athletic footwear, apparel and accessory brand of the University of Texas Rio Grande Valley (UTRGV) in a collaboration with BSN Sports.
Under Armour Amends Credit Agreement
Under Armour, Inc. entered into an amendment to its loan with JPMorgan Chase Bank that suspends the interest coverage covenant and lowers the debt to EBITDA ratio requirement under its leverage covenant.
Wilson To Replace Spalding As Official NBA Ball Maker
The National Basketball Association (NBA) announced that Wilson Sporting Goods Co. will replace Spalding as the official game ball of the NBA starting with the 2021/22 season, the league announced. Spalding began making the basketballs exclusively for the NBA starting in 1983.
Gold’s Gym Upgrades Gold’s AMP Fitness App
Gold’s AMP, the first-ever digital personal training app from a brick & mortar gym, has revamped and launched an upgraded version for seamless user experience. The app, introduced initially by Gold’s Gym in 2017, will be available for free until May 31, 2020, to U.S. and Canada-based members and nonmembers looking for an at-home exercise option.
HitTrax To Become Available For Home Use
HitTrax Home, which utilizes the same core computer vision technology that powers the professional HitTrax model used by MLB organizations, is now available for private and residential users, according to the device’s developer, InMotion Systems.
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