Sports Illustrated has inked a new licensing deal worth $45 million.
Authentic Brands Group didn’t waste any time licensing out its surprise acquisition Sports Illustrated.
The Maven paid ABG $45 million in upfront royalties for Sports Illustrated, putting ABG almost halfway to covering its acquisition cost, and agreed to pay an undisclosed percentage of gross revenue every year through 2029. ABG is also getting a 10 percent stake in The Maven, which amounts to a value of roughly $2 million following a nearly 25 percent spike in Maven shares following the news.Going forward, The Maven will operate Sports Illustrated exclusively in all of North America, the U.K.
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