BUSINESS NEWS
Want to stay up to date on the latest press releases and business news in the running, cycling and triathlon industries? Scroll below to view all endurance sports business news.
February 22, 2023
Distance Runner Kevin Salvano signs agency contract with Elite Runner Management
GROSSE POINTE (MI) /ENDURANCE SPORTSWIRE/ – Kevin Salvano, a Notre Dame graduate and Olympic Trials qualifier in the marathon, has signed an agency contract with Elite Runner Management (ERM), the Michigan based sports agency headed by Chris Mengel. “Kevin Salvano had a fabulous start to his pro career when he ran...
February 21, 2023
Brooks Running achieves record revenue in 2022, builds momentum into the new year
Brooks Running crossed the finish line in 2022 with record global revenue, up 6% over 2021 with growth in all regions, and direct-to-consumer sales up 16%. The brand navigated supply chain obstacles during the first half of the year, returning to complete inventories in the back half with a record...
February 21, 2023
Fox Factory Acquires Custom Wheel House
Fox Factory Holding Corp. agreed to acquire Custom Wheel House, LLC (CWH) from Thompson Street Capital Partners and other sellers for $131.6 million. This acquisition complements Fox’s upfitting and lift kit business and broadens its product offering in a growing automotive industry segment. SGB Media
February 21, 2023
Porsche assumes complete ownership of Greyp e-bike brand
After acquiring a majority interest in the Greyp in 2021, Porsche announced it has assumed complete ownership of the e-bike brand. The sports car manufacturer's venture capital segment, Porsche Ventures, had held about a 10% stake in Greyp since 2018. Bicycle Retailer
February 20, 2023
Quell Raises $10M In Series A Funding Round
Quell, the UK-based fitness gaming developer and publisher, completed a $10 million Series A funding round led by Tencent with follow-on investment from Khosla Ventures, Heartcore Capital, Social Impact Capital, and entrepreneur Naval Ravikant. This latest round brings Quell’s total financing to $15.6 million. The Series A round enables Quell...
February 20, 2023
USA Triathlon Foundation Board of Trustees Elects Four New Officers
COLORADO SPRINGS, Colo. /ENDURANCE SPORTSWIRE/ – Alex Egan was today announced as the Chair of the USA Triathlon Foundation Board of Trustees following the Board’s 2022 officer elections. Egan, who became a trustee in 2020, succeeds outgoing Foundation Trustee Chair Stephen Ban, who held the position for the past two years. The...
February 17, 2023
Olympia Sports Intellectual Property Sold At Auction
The intellectual property and related assets of Olympia Sports, including the trademarks for Olympia Sports, Clever Training and Surf Outfitter, were sold for $180,000 to 54 Glen Cove Realty, LLC at an auction run by Hilco Streambank. Olympia Sports filed for bankruptcy last September to liquidate its remaining 35 stores....
February 17, 2023
Shimano forecasts 21% sales drop in 2023
In its fourth quarter and full-year financial results report, the company forecast that 2023 sales in its bike components business will produce 396 billion yen ($2.95 billion), down from the 517 million yen recorded in 2022, a 23% drop. Bike component sales make up about 79% of Shimano’s business with...
February 17, 2023
Non-Executive Board Established for the Adventure Racing World Series
/ENDURANCE SPORTSWIRE/ - Following the announcement of new ownership for the Adventure Racing World Series, under the leadership of Heidi Muller, a new Non-Executive Board has been formed and held their first meetings and discussions. The formation of the new board and its inaugural meeting on February 9th, took place...
February 16, 2023
USA Triathlon Launches New Youth and Junior Premier Membership
COLORADO SPRINGS, Colo. /ENDURANCE SPORTSWIRE/ – USA Triathlon today announced the launch of its Youth and Junior Premier Membership, a new membership for youth and teenage athletes that is valid from the date of purchase until the athlete’s 18th birthday. With a host of benefits at a one-time purchase price of only...
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