2026-11-09
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Finance & Investments
The global sports apparel brand saw total sales fall 7% to $1.24B due to global declines in both clothing and footwear.
The company also lowered its annual profit margin forecast, causing its stock price to drop as investors worry about future earnings.
These poor financial results show that the ongoing plan to revive the struggling retailer still has a long way to go.
The deal values the professional women's soccer team at $350M, setting a new financial record for the sport.
A group of financial executives, led by the Moelis family and investment firm T. Rowe Price's David Giroux, provided the funds.
The club will use the $100M to upgrade its player roster and fund new training and stadium facilities.
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Media, Broadcasting & Sponsorships
German sportswear giant Adidas would replace Puma as the Italian club's uniform supplier from 2028-29, paying about €50M a season, roughly double Puma's €25.2M.
The fee would match Adidas's deal with domestic rival Juventus and top the €30M a year crosstown rival Inter Milan gets from Nike.
Milan needs the money after missing Europe's lucrative club tournaments last season, when it lost about €24M as revenue fell 6% to €464.6M.
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Teams & Leagues
A federal appeals court sided with the NCAA, the main college sports regulator, blocking a fifth playing year for 2022 high school graduates.
Judges ruled against the players because they could not clearly define the financial market needed to prove the new rule harmed them.
Despite this significant federal victory, the organization still faces roughly 200 similar lawsuits in state courts involving up to 850 athletes.
The newly separated hockey and basketball teams reported a combined $45.5M revenue and $25.5M loss before their regular seasons started.
Both publicly traded teams are valued billions below their private worth, sparking investor hopes that the controlling Dolan family will take the Rangers private.
A looming tax law change could cost the Rangers an extra $17M annually, giving ownership a strong financial reason to leave the public market.
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Miscellaneous
Shares in DraftKings, a major US sports-betting company, fell 28% after it cut its 2026 core profit forecast to $175M-$275M from $700M-$900M.
DraftKings expects to spend up to $700M on its prediction market, which sells yes-or-no sports bets regulated as financial products rather than gambling.
DraftKings is chasing rivals Kalshi and Polymarket, and Kalshi is now valued at $40B, more than triple DraftKings' $11.7B market value.
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