SGB Update Sports & Fitness
Diamond Sports Group Files For Chapter 11 Bankruptcy To Dump Debt
Diamond Sports Group, LLC is finalizing a Restructuring Support Agreement (RSA) with holders of a majority of its debt and Sinclair Broadcast Group, Inc. to eliminate over $8 billion of the company’s outstanding debt. The company filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas.
Marriott Appoints Dick’s CEO To Board Seat
Marriott International, Inc. elected Lauren Hobart, president and chief executive officer of Dick’s Sporting Goods and Grant F. Reid, former president and chief executive officer of Mars, as independent directors.
Hypetex Appoints Michael Dowse To Board
Hypetex, a UK company that makes colored carbon fiber using sustainable colorization materials, appointed Michael Dowse, former long-time president of Wilson Sporting Goods, as a non-executive director and board member.
Niner Bikes Founder Joins Gates To Develop Bike And eBike Technologies
Niner Bikes founder Chris Sugai joined Gates as general manager of Gates Global Mobility, driving the development of advanced drivetrain solutions and belt technologies for bikes, eBikes, motorcycles, powersports, and electric micromobility.
Cycling Distribution Network Enlists BikeExchange As U.S. E-Com Platform
Cycling Distribution Network (CDN), the U.S. distributor of Basso, Berria and Lee Cougan bikes, reported partnering with BikeExchange (BEX) as its exclusive e-commerce platform.
Sporting Goods Retail Industry Icon Jim Chick Passes Away
The National Sporting Goods Association shared that former NSGA board member and board chair, Jim Chick, passed away. Chick was president & CEO of Chick’s Sporting Goods, headquartered in Covina, CA, for nearly 40 years. He was a member of the NSGA board of directors from 1985 to 1994 and was the board chairman in 1992.
Selkirk Sport Inks Deal With Golf Course Operator For National Pickleball Expansion
Pickleball equipment and paddle manufacturer Selkirk Sport partnered with Invited, the Dallas, TX-based corporation and largest owner and operator of private golf and country clubs in the U.S., to introduce pickleball into its activities program.
Nordstrom Adding Two Rack Stores In Fall 2023
Nordstrom, Inc. reported plans to open two stores in fall 2023—a Nordstrom Rack in Natomas, CA, and a Rack store in San Antonio, TX.
IHRSA, SFIA, Pro Leagues Commend Bipartisan PHIT Act Legislation
IHRSA and SFIA issued statements commending the newly introduced bipartisan legislation to allow flexible spending and health savings accounts (HSA) for physical activity products, services and youth sports.
Rally House To Open Three Stores In Arkansas
While Rally House has a strong presence in the Midwest, the company reported this week it enter a new market in Arkansas.
Beachbody Narrows Q4 Loss By Two-Thirds Despite Strong Double-Digit Sales Decline
The Beachbody Company, Inc., which re-branded as Bodi in March, reported total fourth-quarter revenue decreased 31 percent to $148.2 million for the period ended December 31, compared to the prior year period.
Rocky Mountain Acquires BikeAction GmbH
Rocky Mountain acquired BikeAction GmbH a bike distributor headquartered in Germany. The acquisition, built on a 30-plus-year partnership, vertically integrates the Canadian manufacturer into the European market and supports riders in BikeAction’s Northern European region.
Signa Sports Opens North America Bike Office In Park City
Signa Sports United’s North American Bike Division, which makes the Nukeproof and Vitus bikes, opened a corporate office in Park City, UT.
Giant Bicycles Sees Inventory Affecting Short-Term Results After Solid 2022
Giant Group reported that 2022 consolidated revenues increased 12.5 percent to NT$92.04 billion. Due to the impact of rising material and labor costs as well as an increase in the OEM business, the overall group’s gross margin and operating profit performance were negatively affected.
Castore Sponsors First National Soccer Team
Castore, the UK sportswear brand, signed a multi-year agreement to replace Umbro as the official kit supplier and retail partner of Ireland’s national soccer teams. The six-year deal runs until 2028 and is Castore’s first with a national soccer team.
