March 11, 2022

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The Green Bay Packers, who are planning $250 million in renovations for Lambeau Field, raised about $65.8 million from a stock sale that added 176,160 new shareholders.

Peloton Tests New Pricing Model, Integrates With Apple Watch

Peloton/Design: Alex Brooks

Peloton’s downhill stretch could end soon as the company shifts gears, testing new prices, and releasing products roughly a month after Barry McCarthy took over as CEO.

The at-home fitness company will begin a pricing pilot [[link removed]] on Friday allowing customers to pay a monthly fee that covers both their workout equipment and access to on-demand fitness classes.

The fees will range between $60 and $100 per month in Texas, Florida, Minnesota, and Denver, and the option will only be offered in Peloton’s brick-and-mortar stores or fitness studios. If users cancel, the company will take back the bike with the addition of a delivery fee.

Peloton’s original bike runs for $1,745 including delivery and setup fees.The Bike+ goes for $2,495.The company extended its free at-home trial from 30 days to 100.

Peloton also announced [[link removed]] a new Apple Watch integration for its Bike, Bike Plus, and Tread this week. The watch can record Peloton workouts, show Peloton’s Strive Score feature, and more easily log Peloton workouts in the app, among other features.

A Winding Road

The announcements come at an ideal time for the company. In the last few months, Peloton warehouse workers revealed [[link removed]] the company knowingly sent tarnished bikes to buyers, delayed the opening of a factory, lowered its projected apparel revenue, and announced plans to cut 2,800 jobs.

Adidas Projects Double-Digit Growth, Risks $274M Backing Ukraine

Adidas/Design: Alex Brooks

Adidas is forecasting double-digit growth for the financial year as the German sportswear company recovers from the global pandemic and delivers a strong pipeline of products.

The shoe and apparel maker is expecting a favorable FY2022.

Sales are projected [[link removed]] to increase between 11% and 13%.Net income is projected to grow to between $2 billion and $2.1 billion.The company is planning a new share-buyback program [[link removed]] of up to $1.7 billion from its sale of Reebok.

Adidas generated $23.3 billion in revenue in FY2021, a 15% increase compared to 2020. The company reported increased sales across all market segments in 2021 despite COVID-related restrictions, market difficulties in Asia, and industry-wide supply chain constraints.

The Germany-based company has faced challenges in China — the world’s largest fashion market — due to a partial boycott of Western brands in the country after questions were raised about forced labor in its Xinjiang region. In FY2022, Adidas projects [[link removed]] sales in China to increase in the mid-single digits compared to 3% growth in the region last year.

Zero Tolerance

Earlier this week, Adidas said it is temporarily [[link removed]] shutting down operations in Russia and suspending online sales in the country in response to Russia’s recent invasion of Ukraine.

The company operates approximately 500 stores in Russia and is putting [[link removed]] roughly $274 million of revenue — half its business from Russia and the CIS region — at risk due to the decision.

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Nashville Set to Open Largest Soccer Stadium in U.S. and Canada

Christopher Hanewinckel-USA TODAY/Design: Alex Brooks

Nashville will open North America’s biggest soccer stadium as the sport surges in popularity in the U.S.

The 30,000-seat stadium is set [[link removed]] to debut when Nashville SC hosts the Philadelphia Union on May 1.

The stadium cost roughly $335 million to build.On Thursday, the team announced a long-term stadium rights partnership with French logistics firm GEODIS, which has its North American headquarters in Brentwood, just outside of Nashville.Terms of the deal were not disclosed, but it is estimated [[link removed]] to be worth $3 million to $4 million annually.

Last week, Charlotte FC set [[link removed]] a new MLS attendance record at the team’s inaugural home game against the L.A. Galaxy. The 74,479 crowd bested the previous record of 73,019 set in Atlanta during the 2018 Cup match.

Miami Next?

Inter Miami owners David Beckham and Jorge and Jose Mas are looking to build a $1 billion complex for their team.

A city commission vote on whether to lease the Melreese golf course to the team owners for 99 years was postponed to allow for proper public notification.

The project plots out a 27,000-capacity stadium with a surrounding mall, hotel, and park.

WNBA Star’s Detention in Russia Spotlights Salary Disparities

Joe Camporeale-USA TODAY/Design: Alex Brooks

When WNBA star Brittney Griner was arrested and detained in Russia, she was on her way to play overseas — a lucrative offseason activity for WNBA players.

Every year, countless players travel abroad to secure paychecks often double [[link removed]] those of top WNBA salaries. This offseason, Griner was one of about 70 players overseas — though other players in Russia or Ukraine have since left.

Players could make up to $500,000 including bonuses with the league’s current CBA — but that’s still a fraction of what players make in Russia.Last year, Griner made a little over $221,000 on the Phoenix Mercury, per [[link removed]] Spotrac.Griner’s Russian team, UMMC Ekaterinburg — where she’s played since 2014, and which has attracted numerous WNBA players over the years — pays out millions annually. Diana Taurasi reportedly [[link removed]] made $1.5 million playing for the team in 2015.

And while the WNBA claims [[link removed]] it cannot fund perks like charter flights, Russian teams reportedly [[link removed]] provide players with top-flight accommodations from luxury apartments to personal drivers.

Follow The Money

UMMC Ekaterinburg is located in Yekaterinburg, an enclave east of the Urals — more than 6,000 miles from Griner’s WNBA home in Phoenix.

It’s a European powerhouse that has won several titles — with the help of funding from Russian oligarchs. UMMC is named after the Ural Mining and Metallurgical Company. Its billionaire CEO, Andrei Kozitsyn, serves as team president.

Since Russia invaded Ukraine, UMMC was kicked out of the EuroLeague. Kozitsyn was named [[link removed]] in a recent U.S. bill aiming to sanction Russia.

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Conversation Starters Electronic Arts was granted [[link removed]] an appeal of an $11 million fine over loot boxes in FIFA Ultimate Team. Mark Cuban has invested [[link removed]] in Campus Ink, a college apparel company. The Italian Football Federation is replacing [[link removed]] Puma as the kit supplier for Italy’s national soccer teams with Adidas. Nearly two thirds (65.7%) of NIL deal spending has come from national brands, with an anticipated first 12-month spend of $380.6 million. Learn [[link removed]] how your brand can leverage NIL in 2022 and beyond.*

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Today's Action

NHL

07:08 PM

Wild (-210) at Blue Jackets (+170)

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NBA

08:00 PM

Hornets (+135) at Pelicans (-155)

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NHL

10:00 PM

Capitals (-110) at Canucks (-110)

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*All times are EST unless otherwise noted.

*Odds/lines subject to change. T&Cs apply. See [[link removed]] for details.

Question Of The Day

Would you be more willing to buy a Peloton under a monthly pricing plan?

Yes [[link removed]] No [[link removed]]

Thursday’s Answer

45% of respondents have purchased a Lululemon product.

Written by Abigail Gentrup [[link removed]], Justin Byers [[link removed]], Owen Poindexter [[link removed]], Amanda Christovich [[link removed]]

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