Shorts: JD Sports, Jockey Club, Esports
British sports and fashion retailer JD Sports has agreed the sale of 15 of its brands to Mike Ashley’s Frasers Group, including former Oasis frontman Liam Gallagher’s Pretty Green and 1980s brand Tessuti.
JD has claimed that the agreement, which has been confirmed as £47.5m cash deal for a number of JD’s non-core brands, would allow it to focus on other priorities, particularly the ‘international and digital expansion of the group’s core premium sports fashion’ retail brands.
Other labels included in the deal are footwear brand Nicholas Deakins, the casual fashion brand Scotts, Rascal Clothing and Watch Shop.
The deal will result in an £100m one-off non-cash writedown in JD’s accounts related to the value of the brands.
JD Sports Chief Executive, Régis Schultz, commented, “JD is rightly recognised for its laser focus on the customer and we are convinced that the most significant opportunities lie in the continued international development of the Group’s global sports fashion businesses.”
The Jockey Club has announced that it will contribute more of its own money towards prize money in 2023 than ever before.
British horseracing’s largest commercial operator and employer is budgeting to make a record executive contribution of £31.1 million next year, a figure is up £2.7 million year-on-year.
The executive contribution will help ensure overall total prize money at The Jockey Club’s 15 racecourses exceeds £59 million in 2023.
The 9.5% year-on-year rise in executive contribution is the latest in a series of increases, with the figure having grown 141% over the past 12 years.
British competitive gaming culture brand EXCEL ESPORTS has announced a new partnership with Bioflow, a magnetic wellness brand.
Some of the professional athletes Bioflow has worked with in the past include professional England cricketer Jonny Bairstow, former world number one golfer Lee Westwood, as well as recent U.S Women’s Open winner Minjee Lee.
Mark Carter, Commercial Director, EXCEL ESPORTS, said, “With musculoskeletal injuries being such a widespread concern amongst esports players, Bioflow can make a real impact on our player’s physical health. Bioflow’s game-changing products will enable our players to recover more swiftly, which will help to maximise training and competition time at major events”
