Home Sport Sports Illustrated lebt vorerst weiter, aber Sportwetten sind geschlossen

Sports Illustrated lebt vorerst weiter, aber Sportwetten sind geschlossen

von NFI Redaktion

Image for the article titled 'Sports Illustrated' lives on for now, but SI Sportsbook is closed

The Authentic Brands Group received a hefty payout for terminating a licensing agreement for Sports Illustrated, but not the one you might expect.

888 Holdings, the UK-based operator of SI Sportsbook, has terminated its license with the Authentic Brands Group to use the Sports Illustrated name.

According to Jacob Feldman of Sportico, the separation was described as „mutual“ and resulted in a $50 million settlement for Authentic until 2029.

At the time of the agreement in 2021, Sportico reported that the relationship included „an upfront license fee paid to SI owner Authentic Brands Group, additional payments based on performance metrics, and a stock offering,“ as well as „a 4.9% stake in 888’s consumer-facing US business with options to purchase up to almost 20% at future dates.“ The original contract was designed to span up to 20 years.

SI Sportsbook had operations in three states – Colorado, Virginia, and Michigan – with each of these states expected to be concluded within the next six to 18 months.

According to Sportico, Authentic is expected to pursue a „Gambling 2.0“ strategy and not exclusively distribute Sports Illustrated content to sports betting providers.

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