The Milwaukee Brewers are adding an MVP: Milwaukee Bucks star Giannis Antetokounmpo is buying an ownership stake in the team.

The size of the stake has not been disclosed at this time, but initial reports described it as “small.”

In a similar move, NFL MVP and champion Patrick Mahomes became a part-owner of the Kansas City Royals last July, just months after winning a Super Bowl with the Kansas City Chiefs.

Antetokounmpo bought into sports drink maker Ready Nutrition last year as an angel investor.

• The Brewers rank 24th out of 30th among MLB teams with an estimated value of $1.2 billion, per Forbes.
• Three MLB teams have been sold since 2017: The Miami Marlins for $1.3 billion to Bruce Sherman in 2017, the Kansas City Royals to John Sherman for $1 billion in 2019, and the New York Mets to Steve Cohen for $2.5 billion last year.

The move further cements the centerpiece of the reigning NBA champions in Milwaukee: Antetokounmpo just finished the first season of a five-year deal worth $228 million.

That sum happens to be just slightly more than the estimated $223 million that current Brewers’ owner Mark Attanasio and his ownership group purchased the team for in 2005.

Days before it was set to go public, Topps and a SPAC — Mudrick Capital Acquisition Corporation II — called off their merger. 

Topps, which said the deal was terminated by mutual agreement, will remain a private company for the time being. 

“Topps expects to be able to produce substantially all its current licensed baseball products through 2025, pursuant to its existing agreements,” the company said.

• The merger, announced in April, valued Topps at around $1.3 billion, 12.5 times its 2021 projected adjusted EBITDA at the time.
• The partnership that would have taken Topps public was set to be complete on Aug. 25. Mudrick had just released a statement to shareholders reminding them to vote in favor of the Topps merger on Tuesday.
• On Wednesday, Topps posted second-quarter earnings that showed a 77.7% year-over-year increase in net sales to $212.2 million.

The news caps a dramatic week for the iconic trading card company. Reports surfaced Thursday that Topps had lost its 70-year partnership with MLB and MLBPA to Fanatics. Mudrick referenced the end of that relationship in its statement announcing that the Topps deal had been called off. 

Fanatics also scored deals with the NBA, NBAPA, and NFLPA. The company raised $325 million at an $18 billion valuation earlier this month and plans to dive into ticketing and sports betting in the future.

Foot Locker has taken another big step, according to its latest earnings report. 

The American sportswear and footwear retailer generated $2.28 billion in revenue in Q2 2021, a 9.5% increase compared to the same period a year prior. 

Foot Locker surpassed Wall Street estimates of $2.09 billion in revenue. 

“This quarter reflects strong results in our women’s and kids’ footwear business along with broad demand for our apparel and accessories offerings,” said CEO Richard Johnson. 

Foot Locker continues to diversify and expand its reach. 

• Earlier this month, it announced the acquisition of athletic retailer WSS, formerly known as Warehouse Shoe Sale, for $750 million in cash. 
• The same day, the company announced its acquisition of streetwear and sneaker shop Atmos for $350 million. 
• It invested $36 million in its store fleet, digital capabilities, supply chain, and other infrastructure during Q2 2021. 

Foot Locker has more than 2,900 brick-and-mortar locations worldwide. It will add 93 locations in the U.S. following the purchase of WSS; Atmos adds another 49 across the U.S. and Japan. 

The company is also converting approximately one-third of its Footaction stores into Foot Lockers and will shutter the remaining two-thirds by 2023.

Foot Locker acquired Footaction and 350 of its stores from now-defunct retailer Footstar for $160 million in 2004.