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Dick's Sporting Goods buys Sports Authority name

Jul 4, 2016 United States
Dick's Sporting Goods buys Sports Authority name
The Pennsylvania-headquartered company triumphed at the auction for Sports Authority Holdings Inc.’s brand name and intellectual property rights with a bid of 15 million US dollars
Dick’s Sporting Goods beat out competitor Sports Direct International PLC. Sources close to the matter confirmed that the British retailer came in second place at the auction with a 13 million US dollars.

In addition to the intellectual property rights, including the usage of the name, Dick’s Sporting Goods also acquired 31 Sports Authority store leases

All winning bids are subject to the approval of the US Bankruptcy Court in Wilmington, which is overseeing Sports Authority’s chapter 11 case.

There are no official comments yet from none of the involved parties.

The liquidation of Sports Authority’s is being conducted by Hilco, Gordon Brothers Retail Partners LLC, and Tiger Capital Group LLC, in a process started at the end of May.

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