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 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 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 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 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 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 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 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 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 roughly $274 million of revenue — half its business from Russia and the CIS region — at risk due to the decision.

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 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 to be worth $3 million to $4 million annually.

Last week, Charlotte FC set 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.

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 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 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 made $1.5 million playing for the team in 2015.

And while the WNBA claims it cannot fund perks like charter flights, Russian teams reportedly 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 in a recent U.S. bill aiming to sanction Russia.