Sports Authority
Encyclopedia
The Sports Authority, Inc. (still known as The Sports Authority in some locations) is one of the largest sporting goods retailers in the United States. It is headquartered in Englewood, Colorado
, and operates more than 460 stores in 45 U.S. states under the Sports Authority name.
The company's e-tailing website (located at | www.sportsauthority.com), is on the GSI Commerce
platform and supports the retail stores as well as other Multi-channel programs. In addition, a joint venture with ÆON
Co., Ltd. operates "Sports Authority" stores in Japan
under a licensing agreement.
In 1971, Gart Sports Company opened the "Sportscastle" superstore
in Denver, Colorado
at the corner of 10th Avenue and Broadway. The 1980s marked a period of substantial growth for the company through a series of acquisitions. These mergers included Hagan's Sports Ltd. (1987) and Stevens Brown of Salt Lake City (1987). In the fall of 1992, Leonard Green & Partners
acquired Thrifty and became the company's largest shareholder.
in 1919 by Jake Oshman. By 1965, Oshman's had become the largest sporting goods chain in Texas, operating 43 Oshman's SuperSports USA stores and 15 traditional stores; the company merged with Gart Sports in 2001.
The Sports Authority, Inc. was founded in Lakes Mall
in Lauderdale Lakes, Florida
by a syndicate of venture capital groups and several key founding executives. Jack A. Smith, formerly COO of Herman's World of Sports, CEO; Roy M. Cohen, Senior Vice President and General Merchandise Manager; Richard Lynch, Senior Vice President and CFO and Arnold Sedel, Vice President of Stores Operations were the founding executives. The venture capital syndicate was led by William Blair Venture Partners and included First Chicago Venture Partners, Bain Capital, Phillips-Smith Venture Partners, Marquette Venture Partners, and Bessemer Securities.
The Sports Authority, Inc. opened its first store in November 1987 in Fort Lauderdale, Florida
. In 1990 Kmart
acquired the company. Five years later, The Sports Authority had expanded to 136 stores in 26 states, and was spun off from parent Kmart.
Its headquarters were in Lauderdale Lakes
, near Fort Lauderdale.
As of May 2006, the remaining stores that were not operating under the Sports Authority name were re-branded to the Sports Authority name. There are no longer any stores operating under the name of Gart Sports, Sportmart or Oshman's.
filed for Chapter 11 bankruptcy
and on November 17, 2006, Sports Authority, through a wholly owned subsidiary, assumed the leasehold interests in seven former Copeland's Sports retail store locations.
, a private equity investment firm, in a transaction valued at $1.4 billion. Shareholders approved the deal in May 2006. Upon completion of the merger, Sports Authority ceased to be a publicly-listed stock. The subordinated financing for the deal was a private mezzanine loan from TCW/Crescent Mezzanine LLC. Thus, no public bonds are outstanding and Sports Authority no longer files financial statements with the SEC.
, which is the home of the Denver Broncos and was previously known as Invesco Field at Mile High.
Englewood, Colorado
The city of Englewood is a Home Rule Municipality located in Arapahoe County, Colorado, United States. As of 2007, the city is estimated to have a total population of 32,532. Englewood is part of the Denver-Aurora Metropolitan Area. Englewood is located in the South Platte River Valley east of the...
, and operates more than 460 stores in 45 U.S. states under the Sports Authority name.
The company's e-tailing website (located at | www.sportsauthority.com), is on the GSI Commerce
GSI Commerce
GSI Commerce is an eBay company specializing in creating, developing and running online shopping sites for brick and mortar brands and retailers....
platform and supports the retail stores as well as other Multi-channel programs. In addition, a joint venture with ÆON
ÆON
, commonly written AEON Co., Ltd., is the holding company of Æon Group. It has its headquarters in Mihama-ku, Chiba, Chiba Prefecture.It operates JUSCO supermarkets directly in Japan.Æon is the largest retailer in Asia...
Co., Ltd. operates "Sports Authority" stores in Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
under a licensing agreement.
Gart Sports
Gart Sports began in 1928, when Denver Post newspaper carrier Nathan Gart started the company with $50 in fishing rod samples.In 1971, Gart Sports Company opened the "Sportscastle" superstore
Big-box store
A big-box store is a physically large retail establishment, usually part of a chain. The term sometimes also refers, by extension, to the company that operates the store...
in Denver, Colorado
Denver, Colorado
The City and County of Denver is the capital and the most populous city of the U.S. state of Colorado. Denver is a consolidated city-county, located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains...
at the corner of 10th Avenue and Broadway. The 1980s marked a period of substantial growth for the company through a series of acquisitions. These mergers included Hagan's Sports Ltd. (1987) and Stevens Brown of Salt Lake City (1987). In the fall of 1992, Leonard Green & Partners
Leonard Green & Partners
Leonard Green & Partners is a private equity firm specializing in leveraged buyout transactions, particularly of middle market companies. As of 2010, the firm had with approximately $9 billion in assets under management....
acquired Thrifty and became the company's largest shareholder.
Sportmart
At the same time that Gart Sports Company opened the Sportscastle, the Hochberg family and the Cantor family opened their first Sportmart in Niles, Illinois. The company grew to 60 stores in nine states. Gart Sports and Sportmart merged in 1998.Oshman's
Oshman's Sporting Goods was founded in Houston, TexasHouston, Texas
Houston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ...
in 1919 by Jake Oshman. By 1965, Oshman's had become the largest sporting goods chain in Texas, operating 43 Oshman's SuperSports USA stores and 15 traditional stores; the company merged with Gart Sports in 2001.
Sports Authority
Lakes Mall
Lakes Mall was an enclosed shopping mall in Lauderdale Lakes, Florida. Opened in 1972, the shopping center initially featured Jefferson Ward and Britt's discount stores, and later included the first locations for the retail chains Office Depot and The Sports Authority...
in Lauderdale Lakes, Florida
Lauderdale Lakes, Florida
Lauderdale Lakes is a city in Broward County, Florida, United States. As of the 2010 United States Census, the population was 32,593. It is part of the Miami–Fort Lauderdale–Pompano Beach Metropolitan Statistical Area, which is home to 5,564,635 people....
by a syndicate of venture capital groups and several key founding executives. Jack A. Smith, formerly COO of Herman's World of Sports, CEO; Roy M. Cohen, Senior Vice President and General Merchandise Manager; Richard Lynch, Senior Vice President and CFO and Arnold Sedel, Vice President of Stores Operations were the founding executives. The venture capital syndicate was led by William Blair Venture Partners and included First Chicago Venture Partners, Bain Capital, Phillips-Smith Venture Partners, Marquette Venture Partners, and Bessemer Securities.
The Sports Authority, Inc. opened its first store in November 1987 in Fort Lauderdale, Florida
Fort Lauderdale, Florida
Fort Lauderdale is a city in the U.S. state of Florida, on the Atlantic coast. It is the county seat of Broward County. As of the 2010 census, the city had a population of 165,521. It is a principal city of the South Florida metropolitan area, which was home to 5,564,635 people at the 2010...
. In 1990 Kmart
Kmart
Kmart, sometimes styled as "K-Mart," is a chain of discount department stores. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and...
acquired the company. Five years later, The Sports Authority had expanded to 136 stores in 26 states, and was spun off from parent Kmart.
Its headquarters were in Lauderdale Lakes
Lauderdale Lakes, Florida
Lauderdale Lakes is a city in Broward County, Florida, United States. As of the 2010 United States Census, the population was 32,593. It is part of the Miami–Fort Lauderdale–Pompano Beach Metropolitan Statistical Area, which is home to 5,564,635 people....
, near Fort Lauderdale.
Gart Sports merge with Sports Authority
Gart Sports, which also operated Oshman's and Sportmart, completed a "merger of equals" with Sports Authority on August 4, 2003. At the time of its merger with Gart Sports Company, The Sports Authority was the largest full-line sporting goods retailer in the United States, and had 205 stores in 33 states. The combined company took the Sports Authority name. With the merger, each share of Sports Authority was exchanged with 0.37 shares of Gart Sports which gave investors in each about 50% of the new merchant. The new company is based in Englewood, Colorado, which was the home of Gart Sports.As of May 2006, the remaining stores that were not operating under the Sports Authority name were re-branded to the Sports Authority name. There are no longer any stores operating under the name of Gart Sports, Sportmart or Oshman's.
Copeland's Sports
In August 2006, Copeland's Sports, headquartered out of San Luis Obispo, CaliforniaCalifornia
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
filed for Chapter 11 bankruptcy
Chapter 11, Title 11, United States Code
Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...
and on November 17, 2006, Sports Authority, through a wholly owned subsidiary, assumed the leasehold interests in seven former Copeland's Sports retail store locations.
2006 leveraged buyout by Leonard Green & Partners
In January 2006, Sports Authority agreed to be purchased in a leveraged buyout by affiliates of Leonard Green & PartnersLeonard Green & Partners
Leonard Green & Partners is a private equity firm specializing in leveraged buyout transactions, particularly of middle market companies. As of 2010, the firm had with approximately $9 billion in assets under management....
, a private equity investment firm, in a transaction valued at $1.4 billion. Shareholders approved the deal in May 2006. Upon completion of the merger, Sports Authority ceased to be a publicly-listed stock. The subordinated financing for the deal was a private mezzanine loan from TCW/Crescent Mezzanine LLC. Thus, no public bonds are outstanding and Sports Authority no longer files financial statements with the SEC.
Brands
Sports Authority sells different brands of sporting goods from many different vendors. The company also sells products under its own private labels, including Alpine Design (seasonal clothing and outdoor goods), Sims (seasonal clothing and snowboards), Aspire (women's sportswear), SA Gear (men's sportswear and fitness equipment), Tommy Armour and Ram (Golf), Parkside (outdoor games and trampolines), and Bodyfit by Sports Authority (fitness accessories). Many of these products are made by other manufacturers and branded with the Sports Authority private labels.Sports Authority Field at Mile High
Sports Authority currently owns the corporate naming rights to Sports Authority Field at Mile High, a stadium in Denver, ColoradoDenver, Colorado
The City and County of Denver is the capital and the most populous city of the U.S. state of Colorado. Denver is a consolidated city-county, located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains...
, which is the home of the Denver Broncos and was previously known as Invesco Field at Mile High.
Competition
Sports Authority's major competitor stores include:- Sport ChaletSport ChaletSport Chalet operates 52 owned stores in Southern & Northern California, Arizona, Nevada, and most recently in Utah . Most stores are over in size, with many including dive pools and offering SCUBA classes...
- City SportsCity SportsCity Sports is an American sporting goods retailer operating mostly on the east coast of the United States. Its chief products include athletic apparel, footwear, and equipment...
- Dick's Sporting GoodsDick's Sporting GoodsDick's Sporting Goods, Inc. , or Dick's, is a Fortune 500 American corporation in the sporting goods and retail industries.The company's headquarters are on the grounds of Pittsburgh International Airport in Findlay Township near Pittsburgh, Pennsylvania. Dick's has 451 stores in 42 states as of...
- Modell'sModell'sModell's is a sporting goods retailer with locations in the Northeastern United States. Modell's carries both sporting goods and related apparel. Modell's currently has more than 140 retail locations in ten states and the District of Columbia as of 2008...
- Big 5 Sporting GoodsBig 5 Sporting GoodsBig 5 Sporting Goods is a sporting goods retailer headquartered in El Segundo, California with 388 stores in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oklahoma, Oregon, Texas, Utah, Washington and Wyoming. Steven G. Miller is the Chairman, President, and CEO.The Big 5 name is...
- Academy Sports + Outdoors
External links
- Sports Authority Move It Challenge, Contest for kid inventors 18 and under (Deadline: January 3, 2011)
- 10-K filing, containing merger information
- Merger proxy