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.
December 28, 2023
Who made the most triathlon prize money in 2023?
Long-distance racers dominated the prize money lists in 2023, according to the detailed analysis by Trirating.com’s Thorsten Radde. While two of the top-five money earners from the year did compete in short-course races, the lion’s share of their income came from Professional Triathletes Organisation (PTO) and Ironman races. Here’s a...
December 22, 2023
Muuvr secures $4.16 million in post-seed funding round
Muuvr, the activity app that motivates runners, cyclists, and triathletes to be more active through rewards and community, has announced a significant investment into the brand’s future. The $4.16 million secured capital will fuel the next chapter of Muuvr’s growth strategy. This includes advancements in app development, marketing and acquisition...
December 22, 2023
Nike Aims to Save $2B Over Three Years With New Plan to ‘Streamline’ Organization
Nike on Thursday announced new measures to “streamline” its organization after reporting a profit beat for the second quarter. The athletic giant said in a release that it sees the potential to save up to $2 billion, although these measures involve layoffs. Nike said it could see pre-tax restructuring charges...
December 21, 2023
Compass Diversified Receives $75.2 Million Equity Investment
Compass Diversified (CODI), owner of Velocity Outdoor, BOA, Primaloft, 5.11, and other active lifestyle brands, reported that it had completed a private placement of approximately 3.6 million of its common shares to a mutual fund managed by Allspring Global Investments to raise $75.2 million. The shares were sold for $21.18...
December 20, 2023
Sports tech industry investments reach US$10.1 billion during Q3 2023
The global sports technology industry generated US$10.1 billion worth of deals during the third quarter of 2023, according to research from Drake Star Partners, which recorded 317 transactions during the three-month period. The quarterly study does take into account deals which include technology elements or are sports technology adjacent. For...
December 20, 2023
The Most Innovative Fitness & Wellness Companies of 2023
Athletech News presents its list of The Most Innovative Fitness & Wellness Companies of 2023. The list serves as the ultimate authority in recognizing the organizations that are revolutionizing fitness and wellness and, by extension, positively influencing society. Athletechnews
December 19, 2023
Nike Sues Sneaker Reseller For Allegedly Running ‘Organized Counterfeit Trafficking Community’
Nike is coming after a sneaker reseller that it claims sells fake Swoosh-branded shoes. The lawsuit describes Fox as the “ringleader of an organized counterfeit trafficking community” on messaging platform Discord that assists members in purchasing counterfeit goods. Nike also accused Fox of selling his wares via a website launched...
December 18, 2023
Wolverine Transforming Saucony and Merrell Model in China
Wolverine World Wide, Inc. said it plans to shift its Merrell and Saucony businesses in China from a joint venture model with Xtep to a license and distribution rights model. It also agreed it sell its Asia-based Wolverine Leathers business. Both actions are expected to simplify Wolvderine’s business model and...
December 15, 2023
Warner Bros moves cycling coverage from GCN+ to Max
The Max streaming channel will add more than 300 live pro cycling events in February, picking up events previously streamed on GCN+, including the Giro d'Italia, the UCI Mountain Bike World Series, UCI Track Champions League, and classic one-day races including E3 Saxo Bank Classic, and Kuurne–Brussels–Kuurne. BRAIN
December 14, 2023
Why Are Triathletes Renting Bikes for World Championships?
The bond between triathlete and bicycle is deep and complex, just ask the thousands of triathletes with pet names for their bicycles. So, this begs the question, why would someone rent a bicycle to race an Ironman—especially when that might have been the reason for the bike purchase in the...