Virtual training and pay-as-you-go fitness platform partners with leading sports performance apparel brand to further promote the active lifestyle of its users

FlexIt and 2XU team up

FlexIt and 2XU team up to bring fitness and performance apparel together.
FlexIt and 2XU team up to bring fitness and performance apparel together.
FlexIt and 2XU team up to bring fitness and performance apparel together.

NEW YORK, Oct. 12, 2020 (GLOBE NEWSWIRE) — FlexIt, the platform that enables users to seamlessly access live, 1-on-1 virtual training with personal trainers and access fitness facilities all over the country, announces its partnership with 2XU, a proven leader in performance sports apparel. This collaboration will allow users to take full advantage of both products, providing both FlexIt users and 2XU customers with a well-rounded fitness experience.

Both 2XU customers and FlexIt users will benefit directly from this partnership. 2XU customers will receive custom access to FlexIt’s virtual training platform and its network of close to 3,000 partner fitness facilities across the United States. FlexIt users will be rewarded for completing specific fitness challenges (such as working out for consecutive days) with exclusive 2XU offers across the brand’s key product categories, which are all designed to help users prepare, perform and recover to improve their overall performance. Together, the two companies are giving their networks the opportunity to continue their fitness journeys through various initiatives, experiences and activations over the next year.

“FlexIt and 2XU are two like-minded companies in that both our missions focus on providing everyone with the tools they need to work out successfully, in a way that makes them feel comfortable, no matter where they are,” said Austin Cohen, CEO and founder of FlexIt. “We’re partnering to further these goals and make sure people can work out their way with premier fitness access and performance apparel.”

2XU is a global leader in sports

(Reuters) – Boston Red Sox owner John Henry is in talks with RedBall Acquisition Corp to take his famed sports holding company Fenway Sports Group LLC public, a person familiar with the matter told Reuters late on Friday.

The deal being discussed would merge Fenway Sports Group with RedBall Acquisition Corp and will value the owner of the Liverpool Football Club at around $8 billion including debt, the source said, asking not to be identified.

The talks were reported earlier by the Wall Street Journal newspaper, which said the discussions are in the early stage and could still fall apart.

The newspaper also said RedBall, which raised $575 million in August to buy businesses in sports and sports-related media and data analytics, plans to raise an additional $1 billion to buy a stake in Fenway Sports Group that will not exceed 25%.

RedBall, a special purpose acquisition company (SPAC), is co-chaired by former Goldman Sachs banker Gerald Cardinale and baseball executive Billy Beane, who shot to fame with Michael Lewis’s book “Moneyball: The Art of Winning an Unfair Game.”

(Reporting by Kanishka Singh and Sabahatjahan Contractor in Bengaluru; Editing by Sonya Hepinstall)

Copyright 2020 Thomson Reuters.

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Boston Red Sox owner John Henry is in talks to join with an investment vehicle for an $8 billion deal that would take his famed sports holdings public, according to people familiar with the matter.

The deal being discussed would merge Fenway Sports Group LLC, which also owns English soccer team Liverpool Football Club, with

RedBall Acquisition Corp.


RBAC 0.20%

, the people said. RedBall is a so-called special purpose acquisition company launched by private-equity firm RedBird Capital Partners and Oakland Athletics executive Billy Beane.

RedBall, which raised $575 million in August to buy businesses in sports and sports-related media and data analytics, plans to raise an additional $1 billion to purchase a stake that will total less than 25% in Fenway Sports Group and value it at $8 billion including debt, some of the people said.

The talks are in the early innings and could still fall apart. Fenway’s investors had a meeting recently to discuss the potential transaction, one of the people said.

Also known as blank-check companies, SPACs effectively turn the traditional model for initial public offerings on its head by raising money before they develop a business. They use the proceeds to make an acquisition—usually within a couple of years—that converts the target into a public company.

There has been an unexpected boom this year in blank-check deal making, which has gone in and out of favor over the years, as an increasingly large stable of startups and other private companies seek a more expeditious route to the public markets and sponsors hunt for opportunities in the economic dislocation caused by the coronavirus pandemic.

Mr. Henry, who founded investment firm Henry & Co., bought the Red Sox in 2002 and also owns the

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David Gandler


Courtesy of fuboTV


FuboTV

is considering offering sports betting but the live TV streaming platform hasn’t fully worked out its strategy, CEO David Gandler told Barron’s.

FuboTV (ticker: FUBO) provides access to more than 50,000 sporting events from leagues including the NFL, NBA, NHL and the MLB. Sports betting is currently not available on fuboTV, a spokesperson said.

“We think we can enhance the viewing experience with wagering,” Gandler told Barron’s. “We don’t have a strategy fleshed out but it’s an area of increasing interest.” FuboTV is “looking at its options,” Gandler added.

The New York-based company receives “constant interest” from parties in the sports-betting space from an advertising perspective, Gandler said. The CEO declined to disclose who fuboTV is talking to but noted the company already has a relationship, of over one year, with a provider.

In May 2019, fuboTV struck a deal with FanDuel Group, making it the exclusive sportsbook, online casino, horse racing and daily fantasy sports partner of the streaming service. FanDuel, a gaming company, also became the exclusive advertiser on fuboTV for the categories. The deal allowed FanDuel data to be integrated into fuboTV, TechCrunch said at the time.

FanDuel could not immediately be reached for comment.

Gandler spoke to Barron’s from the floor of the New York Stock Exchange. On Thursday, shares of fuboTV were uplisted to the New York Stock Exchange. Fubo had previously traded on the OTCQB Venture Market. When asked why the company made the switch, Gandler said: “This is the first time institutional investors can buy fuboTV [stock]. There is no volume on the OTC so you can’t buy stock.”

With the listing, fuboTV raised $183 million late Wednesday after boosting the size of its underwritten public offering, a statement said. FuboTV ended up

ICM Partners continued its European expansion with the purchase of London-based sports agency Stellar Group, the biggest acquisition in the 45-year history of the Hollywood talent agency.

Stellar, which ranked fourth last year in Forbes’ annual look at the world’s most powerful sports agencies, represents more than 800 athletes—mostly in soccer but also in track & field, cricket, rugby and the NFL—and manages current contracts totaling almost $3 billion, according to ICM.

“The world is becoming so interconnected and horizontal. The walls are all down with everything. It’s about evaluating talent and what kind of impact you can have with that talent,” says ICM CEO Chris Silbermann, who declined to disclose the price of the Stellar deal. “We feel we can apply a lot of the expertise we employ with celebrities and talent to athletes now as well. There is a natural fit.”

ICM is the smallest of the big four entertainment agencies, which also include WME, UTA and CAA. The Stellar deal heightens the competition with CAA, which launched its industry-leading sports practice 15 years ago. ICM represents stars Ellen DeGeneres, Beyoncé, Samuel L Jackson, J Cole and Khalid, as well as content creators Spike Lee, Shonda Rhimes and Vince Gilligan. With Stellar, it adds global soccer icon Gareth Bale and rising stars Saúl Ñíguez and Mason Mount to the mix.

Silbermann says they will be the foundation of a “multi-faceted” sports business that will be branded ICM Stellar Sports and will eventually include basketball, golf and tennis in the U.S., sports that are currently dominated by