Lululemon, a staple in women’s athleisure the last few years, is using its understanding of performance wear to improve its menswear.

In a story for Men’s Health, Lululemon’s SVP of design and concepts Ben Stubbington explained how men no longer want to “sacrifice” performance for modesty, and are more willing than ever to wear form-fitting gear.

The company’s flagship garment technology is SenseKnit, which provides varying levels of “support and breathability” throughout the body, based on what their studies have shown custom regarding needs different parts.

Lululemon also wants apparel using the technology to transition seamlessly between active and lifestyle situations. “We’re really thinking about how we can ask every garment to do more than one thing,” said Stubbington.

Rival businesses have been making moves in men’s athleisure. Earlier this month, Dick’s Sporting Goods announced VRST. All In Motion, Target’s in-house athleisure brand for men and women, reported $1 billion in sales in its first year.

Men’s activewear accounted for 45% of the total men’s apparel market in 2020 compared to 39% in 2019, per the NPD Group. Long seen as a female-first brand, Lululemon has big goals for its men’s apparel.

• The company aims to double its menswear revenue to $1.4 billion by 2023.
• Lululemon menswear has already been outperforming womenswear overseas, per CEO Calvin McDonald.

Last summer, Lululemon spent $500 million to acquire connected fitness startup Mirror, in a separate push to diversify beyond clothing.

If you were only looking at Manchester United’s finances, you might not have noticed there was anything different over the last year. 

The English soccer club has weathered the pandemic better than most. Revenues in the final quarter of 2020 were up 2.6% compared to the same period in 2019, despite not having live fans at games at any point during the quarter. Gate and concession losses were counterbalanced by 68% growth in its broadcasting revenue, which rose to $150.2 million.

But not everything has been easy for the club. Game revenues plummeted 95.5% to $2.1 million on the quarter, down from $45.3 million the previous year. It also added $89.2 million to its net debt, prompting it to draw $83.2 million from an available credit line of $277.3 million.

Man U took a hit on its shirt sponsorships, signing a five-year deal with technology company TeamViewer for $65.2 million a year, down from its previous nine-year contract with Chevrolet, which reeled in $88.8 million annually. 

Despite that drop in income, the TeamViewer deal is still the largest standalone deal in the Premier League and could still be augmented by a new automobile sponsorship. 

Still, as the second-place Premier League club looks forward to live fans returning, it remains enormously valuable. Avram Glazer, whose family collectively owns 78% of Manchester United (and a majority stake in the Tampa Bay Buccaneers), plans to sell 3.1% of the club’s shares, which at current prices will net him over $100 million.

Investment house Blackstone is gambling that the hospitality and entertainment industries will bounce back — and that Crown Resorts won’t be dragged down by money laundering allegations.

New York-based Blackstone, which already owns 10% of the gaming operator, offered $6.2 billion for Crown Resorts, or $9.15 per share.

That would be a discount, even on the pandemic low from a year ago, but Crown has its hands full right now and may be eager to pass on its issues to a new owner. 

In February, a judge ruled that Crown was ineligible to operate the Sydney casino it opened in December amid allegations of money laundering and organized crime activity that Crown is accused of facilitating, or at minimum willfully ignoring.

Blackstone’s bid is conditional on Australian regulators allowing Blackstone to own and operate Crown’s casinos in Sydney, Melbourne, and Perth. Separate investigations over whether Crown is fit to run its other two casinos are in early stages.

• Blackstone, with $619 billion in assets under management, has targeted large, pandemic-damaged companies. It acquired Extended Stay America with Starwood Capital for $6 billion last week.
• Blackstone agreed to buy Las Vegas’ Bellagio casino and resort in 2019 for $4.25 billion.

If the offer is accepted, Blackstone will have a potential steal on its hands, but like any big gamble, the potential reward is balanced by major risk.

Sports teams and leagues are always looking for new revenue sources, including ways to get more relevant advertising down around the action. Bruin Sports Capital, a New York-based investment firm, is looking to do just that on existing digital boards. 

Bruin reached an agreement with Australian investment firm Quadrant Private Equity to become co-owner of global sports technology and media company TGI Sport. The investment by Bruin is around to $100 million, per the New York Times, and is pending regulatory approval. 

“It just doesn’t make sense that I’m viewing a game looking at ads that don’t mean anything to me,” said Bruin CEO George Pyne. “We believe it’s a disruptive technology that allows brands to engage consumers differently.” 

TGI’s robust portfolio of advertising and broadcast technologies used by venues and events across the globe made it an attractive business venture for Bruin and Quadrant. The acquisition helps Bruin expand its international footprint and gives Quadrant more traction in sports.

TGI takes part in more than 3,500 events annually and has more than 12 miles of electronic signage currently in operation. Quadrant has raised $6.4 billion for 80 different investment opportunities since 1996.

TGI has gained recent recognition due to its Parallel Ads broadcast technology, which allows broadcasters of sporting events to show at-home viewers electronic signage different from what is displayed in-venue. The technology is currently used by FIFA and Major League Soccer.