FOS PM: Anta announces a turnover of 7 billion dollars

Little-known English football club Colchester United are gaining recognition after donating all ticket sales revenue from a game against Forest Green Rovers to refugees fleeing Ukraine from the Russian invasion.

Anta Sports, the “Nike of China”, showed growth across all of its business activities in 2021 in the company’s latest earnings report.

The Chinese sportswear company has generated $7.7 billion in revenue for the 2021 financial year, an increase of 39% compared to the previous financial year, thanks to the strong results of its Anta and FILA segments.

  • In fiscal 2021, the company’s Anta segment reported revenue of $3.7 billion, up 52% ​​year-over-year.
  • His FILA The segment generated $3.4 billion in revenue in 2021, up 25% from fiscal 2020.
  • All other Anta Sports brands reported revenue of $548 million in fiscal 2021, up 51% year-over-year.
  • Shares of the company rose more than 5% on Tuesday after the report.

Anta is is getting bigger in its country of origin, while brands like Adidas and Nike have taken a hit in the world’s biggest fashion market. Anta has benefited from a partial boycott of Western brands in China after some raised questions about forced labor in the Xinjiang region.

Nike saw revenue in the Greater China region reach $2.2 billion in the fiscal third quarter, a 5% decrease compared to the same period the previous year. In the fourth quarter of 2021, Adidas announced a 24% decrease revenue in mainland China, Hong Kong and Taiwan.

New business sector

Anta is taking advantage of its popularity in China to launch a FILA branded hotel in Shanghai. Designed in collaboration with Hyatt Hotelsit is expected to open in 2024 and will be part of Anta’s new Shanghai headquarters, which includes office buildings, shops and restaurants.

Mark J. Rebilas-USA TODAY Sports/Design: Alex Brooks

Lawmakers in York County, South Carolina, passed an “alternative financial package” on Monday in a bid to resume work on the Carolina Panthers’ new $800 million facility project.

Construction at the venue was put on hold earlier this month, reportedly due to Rock Hill, South Carolina falling behind on its bills to Tepper Sports and Entertainment. News 19 WLTX 19 says the city owed $225 million in infrastructure loans.

In a 4-3 vote, the city council agreed to a “tax in lieu of tax and incentive”, in which the county will help fund the project through income credits. The team would then pay them back with tax credits.

  • The Panthers have yet to agree to the trade but have been involved in the deal discussions.
  • A real estate firm run by Panthers owner Dave Tepper is said to have invested over $170 million in the project.

“It’s immediate credit,” Councilor William Bump Roddey said. Previously, the City of Rock Hill would have issued $225 million in bonds.

What’s at stake

The project, which includes the team headquarters and a new practice center, was originally scheduled to open in August 2022 but was stalled until 2023 due to the pandemic. It is now unclear when the project will open or construction will continue.

Ahead of the city council’s vote, a source with knowledge of the city’s thinking told Front Office Sports the back and forth between the entities potentially puts the completion of the development at risk.

Jenna Watson/IndyStar/Design: Alex Brooks

During last year’s NCAA Division I basketball tournaments, the National College Players Association launched an NIL advocacy campaign. This year, they are pushing for schools to pay their players beyond scholarships.

On Tuesday, the NCPA filed a lawsuit with the U.S. Department of Education’s Office of Civil Rights, alleging compensation limits for athletes in Division I schools. violate the civil rights of black students. It calls for the removal of these ceilings.

The complaint, reviewed by Front Office Sports, claims that Black FBS football and Division I basketball players in particular receive far less than their market value. “Because a high percentage of black students are also varsity athletes,” the NCPA said, “the industry-wide compensation cap has a disparate impact on black students.”

The complaint alleges that an athlete is denied the following amount each year:

  • Division I women’s basketball player — $24,000.
  • Division I men’s basketball player – $164,000.
  • FBS Football Player – $185,000.

Another study from 2021 found that between 2005 and 2019, Black Power 5 football and basketball players could have won $17.3 billion.

Multiple avenues

There are currently several other efforts to help athletes obtain salaries.

As part of a broader campaign, the NCPA previously filed a lawsuit with the National Labor Relations Board seeking the right to collective bargaining for athletes — the second of its kind in the past year.

The Third Circuit also considers whether athletes are employees.

  • In The Leadoff, Nike beats expectations with $10.9 billion quarter, Saint Peter’s earns millions in advertising with a Sweet 16 berth, Endeavor may be forced to sell its minor league baseball teams and CVC Capital Partners is in talks for a $1.7 billion stake in French soccer media rights. Click here to listen.
  • Members of the Kaiser domain have appealed a district court judge’s ruling that the right of first refusal between current Denver Broncos owner Pat Bowlen and former owner Edgar Kaiser was “no longer valid or enforceable in all respects.” The appeals process could overlap or delay the looming sale of the Broncos.
  • Tom Brady is back – and now one of the key weapons of his last Super Bowl run has improved. Tuesday, the Tampa Bay Buccaneers re-signed running back Leonard Fournette to a three-year, $21 million contract ($9 million guaranteed) worth up to $24 million, per multiple reports. Subscribe to Dashboard for more on Fournette’s new contract and his role with the Bucs.
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The Atlanta Hawks (35-36) face the New York Knicks (30-41) this Tuesday at Madison Square Garden.

How to watch: 7:30 p.m. ET on TNT

Betting odds: Hawks -3 || ML-155 || O/U 226.5* (Bet on DraftKings)

Take: Expect the Knicks to bounce back from Sunday’s loss. Take New York to cover.

*Ratings/lines are subject to change. The T&Cs apply. To see for more details.


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