LIT Method is less than a year old, but it just received a big-name investment from Marcy Venture Partners, the VC firm co-founded by Jay-Z.

The company focuses on low-impact training (hence, the name), eschewing weights, running, and jumping for rowing, resistance training, and pilates methods. 

LIT Method is the rapper and business mogul’s second investment in connected fitness in the last half-year: In November, tennis superstar Novak Djokovic joined Marcy Venture Partners to invest in CLMBR, a connected climbing machine and workout class company.

Five-time MLB All-Star Adrian Gonzalez is also an investor in LIT.

Like Peloton, which has a partnership with Jay-Z’s wife Beyoncé, LIT offers a pricey product — the rowing machine costs $1,750 — and a $25 monthly subscription for streamed classes.

Though pandemic restrictions are lifting, at-home fitness investments have continued apace, particularly for companies that combine classes and workouts into a connected device.. 

• Tonal raised $250 million in March in a round that included Drew Brees, Maria Sharapova, Sue Bird, and Mike Tyson. Amazon and Steph Curry are previous investors.
• Lululemon acquired Mirror for $500 million in June 2020. Like Tonal, mirror streams classes through a wall-mounted screen for a monthly subscription.

Marcy Venture Partners has also invested in workout recovery device maker Therabody and data-driven primary care app K Health.

Jay-Z has been busy on the business front. In February, he sold half of his champagne line, Armand de Brignac, to LVMH. The following month, he sold a majority stake in streaming service Tidal to Square for $297 million, and inked super-agent Rich Paul to a book deal. 

Turner Sports has skated its way into serving as the NHL’s second national broadcast partner after securing a seven-year, $1.57 billion rights deal with the league.

In March, Disney inked a seven-year, $2.8 billion primary broadcasting rights deal with the NHL, bringing exclusive Stanley Cup Final coverage to ABC for four years and more than 1,000 games per season to ESPN. 

The NHL news follows big media announcements from other sports leagues: 

• The NFL landed an 11-year rights package worth $110 billion in March.
• MLB finalized a seven-year, $3.2 billion package with Turner in 2020.
• The NBA’s current deals with Turner and ESPN are worth $24 billion ($2.6 billion per year), and end in 2025.

The NHL will bring in about $645 million per season between Disney and Turner. TNT will be the primary home for Turner’s NHL broadcasts, though TBS will air games as well. Turner’s parent company, WarnerMedia, is also bringing NHL games to HBO Max.

NBC’s current 10-year, $2 billion deal expires after this season.  

NBC Sports, which has been the NHL’s sole national broadcaster since 2004, was thought to be a lock as the league’s second national partner. However, Turner edged out NBC’s bid of under $100 million annually.

Crocs stock is up 15% to $97.82 after the footwear brand reported first-quarter sales Tuesday.

Q1 2021 revenue beat expectations to reach $460.1 million, up 64% year-over-year. The company expects sales to increase another 40% to 50% this year.

“In the first quarter, we achieved record revenues and profitability, with growth in all regions and all channels,” said CEO Andrew Rees.

Founded in 2002, Crocs started out as a boating shoe, but the footwear, made of a patented material called Croslite (no, they’re not rubber), has evolved. In addition to collaborations with Justin Bieber, Post Malone, and more celebrities — the shoe has been widely embraced.

• Nicole McLaughlin, a designer and outdoor enthusiast focused on sustainable fashion, collaborated on hiking Crocs with a headlamp and compass.
• Crocs collaborated with Beams to create a shoe for fishing. 
• Marathon runner Andrew Tiemann wears Crocs in races, including the 2019 Boston Marathon. (Try at your own risk.)

The Colorado-based company has shifted its sales tactics in recent years. This month, the shoemaker wrote to a number of retailers saying it would end their wholesale relationships. Last year, it began selling to athletic retailers Foot Locker and Finish Line.