Finance

Topps going public through merger with Mudrick Capital SPAC

Daily / Tuesday, April 6, 2021
Topps has "agreed to go public through a merger" with Mudrick Capital Acquisition Corporation II, a SPAC that values Topps at $1.3B, according to Amelia Lucas of CNBC.com. Former Disney CEO Michael Eisner will "stay on" as Topps Chair. Mudrick Capital and funds and accounts managed by Gamco Investors and Wells...

Endeavor to buy out remaining stake of UFC in IPO play

Daily / Thursday, April 1, 2021
Endeavor is once again "set to go public, revealing plans to take full ownership of UFC and highlighting its transformation from a talent agency into a media conglomerate with a collection of high-profile sports and entertainment brands," according to Chin & Farrell of the WALL STREET JOURNAL....

RedBird Capital Partners eyes more team investments after Fenway deal

Daily / Thursday, April 1, 2021
Now that RedBird Capital Partners' deal to "buy a stake in Red Sox parent company Fenway Sports Group" is official, the firm plans to acquire stakes in more pro teams, according to Andrew Ross Sorkin of the N.Y. TIMES. RedBird Founder Gerry Cardinale noted that his company "doesn't own teams in the...

Alex Rodriguez stands out among athletes in SPAC craze

Daily / Monday, March 29, 2021
Alex Rodriguez is "one of the highest-profile athletes in the SPAC business," and he "stands out because unlike many of his peers merely adding their names to someone else’s SPAC, he founded his own," according to Andrew Ross Sorkin of the N.Y. TIMES. Slam Corp, which was established...

Sources: Odell Beckham Jr. latest athlete to join SPAC craze

Daily / Friday, March 26, 2021
Browns WR Odell Beckham Jr. has signed on to become a strategic adviser for a SPAC "sponsored by the tech-focused venture-capital firm Tribe Capital Management," according to sources cited by Dave Sebastian of the WALL STREET JOURNAL. The SPAC has confidentially filed for an IPO, which "could be made...

Sports media platform ClutchPoints invests in, partners with PlayersTV

Daily / Friday, March 26, 2021
Sports media platform ClutchPoints has made an investment in and formed a strategic partnership with PlayersTV, the network owned by athletes including Suns G Chris Paul, Trail Blazers G Damian Lillard and Nets G Kyrie Irving. Financial terms were not disclosed. As part of the agreement, ClutchPoints...

Fanatics' Rubin: Going public possible after latest funding round

Daily / Wednesday, March 24, 2021
Fanatics Exec Chair Michael Rubin this morning acknowledged taking the company public remains a “possibility” after securing $320M in a latest round of funding . CNBC’s Joe Kernen suggested that this funding round, which was led by Silver Lake and comes after a $350M Series E...

Sports trading card company Dibbs raises seed financing

Daily / Tuesday, March 23, 2021
Dibbs, a sports trading card marketplace company that counts former NBAer Channing Frye as an investor, has raised $2.8M in seed financing from venture capital firms Courtside Ventures, Founder Collective, JDS Sports and Sports Card Investor, among others. Dibbs offers investors and collectors the ability to buy...

Nike sees Q3 profits rise despite lagging sales growth

Daily / Friday, March 19, 2021
Nike on Thursday "reported higher third-quarter profits even though sales growth was hurt by widespread port congestion in the United States and ongoing store closures in Europe," according to Lauren Thomas of CNBC.com. During Q3, Nike's revenue was $10.36B, compared to $11.02B expected. Nike "reported net income" of $1.45B, compared...

AHL, ECHL teams making use of second round of PPP loans

Weekly / Monday, March 15, 2021
Minor league hockey teams in the AHL and ECHL are tapping into the second draw of the federal government’s Paycheck Protection Program, a process that’s been quicker, easier and more efficient than the first installment in 2020, according to team executives. Those interviewed are hopeful the received...