Latest Sports Breaking News
May 7, 2024
Private equity firms circle Peloton for potential buyout
A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. Firms have zeroed in on how to cut Peloton’s operating expenses to make a buyout...
May 7, 2024
Nike developing AI model as part of design “step change”
Sportswear brand Nike is developing its own generative AI model to design products using its vast bank of athlete data, Dezeen can reveal. According to Nike's chief innovation officer John Hoke, the company is seeking to take advantage of its exclusive data on athlete performance with a bespoke large language model (LLM). LLMs are a...
May 6, 2024
Runner Disqualified As Winner From OC Marathon Due To Cheating
An Orange County man was disqualified Sunday as winner of the OC marathon, event officials said in a statement Monday. The Fountain Valley runner was disqualified for receiving unauthorized assistance from someone on a bike. According to City News Service, the runner received fluids from a spectator in violation of...
May 3, 2024
‘A Swoosh Affair’: Nike Accused of Undue Influence on Picking Olympics’ Toughest Marathon Team
The Kenyan Olympic marathon team is maybe the hardest to crack in sports, with dozens of the world’s best long-distance runners clawing for only three spots every four years. And every four years, it seems, there’s a furor about Nike jamming an unqualified athlete onto the team. Nike sponsors Athletics...
May 2, 2024
Ultrarunning con man cheated employees and charities
What seemed like a remarkable running-inspired charity endeavour has turned into a shocking tale of deception and unpaid debts. Extreme endurance athlete Tomasz Drybala of London claimed to be raising a whopping $1.3 million for UNICEF by running the circumference of the Earth, as reported in MailOnline—but it now appears that Drybala...
May 2, 2024
Fox Factory Posts Q1 Loss as Sales Fall in Mid-Teens, Bike Sales Post $65M Decline
Fox Factory Holding Corp. reported a 16.6 percent decrease in net sales for the first quarter to $333.5 million compared to net sales of $399.9 million in the first quarter of fiscal 2023. Aftermarket Applications Group (AAG) net sales declined $36.9 million, or 26.6 percent, year-over-year. The decrease in AAG...
May 2, 2024
Peloton CEO Steps Down; Company Cutting About 400 Jobs
Barry McCarthy is stepping down as Peloton’s CEO, president and Board director. Peloton Board members Karen Boone and Chris Bruzzo will serve as interim Co-CEOs; Jay Hoag will become the chairperson of Peloton’s Board of Directors. Peloton Interactive, Inc. announced that Barry McCarthy is stepping down as president, CEO and Peloton Board director and take...
May 2, 2024
Brooks Achieves Highest Quarterly Results in the Brand’s History in Q1
In the first quarter of 2024, the Seattle-based performance running brand reported a 9 percent year-over-year increase in revenue. This marks the company’s highest quarterly results in the brand’s history, Brooks said in a statement. In an interview with FN, Brooks’ new chief executive officer Dan Sheridan said that North America led...
May 1, 2024
Amer Sports sells Enve Composites to private investment firm
Enve Composites has been sold by Amer Sports to PV3, a Utah-based private investment firm. Amer Sports’ chief operating officer Michael Hauge Sørensen said: “Enve has gone through major changes in the past years. The brand has positive momentum, and we see that it has good potential. Enve Composites was founded in 2007...
April 30, 2024
Adidas Swings to Q1 Profit as DTC Drives Top-Line Growth
Adidas is reporting that currency-neutral (c-n) revenues increased 8 percent in the first quarter of 2024, compared to the the 2023 first quarter. The better-than-expected performance was said to be driven by the “strong momentum” of the underlying Adidas business, which grew 5 percent in the period. In addition, the...