Dick's bids on 17 Sports Authority locations

Dick's Sporting Goods has submitted a bid for 17 Sports Authority stores, according to a person familiar with the matter.

Along with other retailers making offers on single locations, bids were turned in last week for some of the 464 Sport Authority locations, reported Reuters. Bids are subject to change and some late ones may trickle in. Bidding closed last night for the sporting goods store's intellectual property.

Next week an auction will take place and a bankruptcy court will approve the final sale of Sports Authority, which filed for bankruptcy in March, unable to compete with online and big-box dealers of sporting goods. Sports Authority was hoping to find a buyer to continue to operate the chain as-is, but that effort failed.

Dick's is the leader is U.S. sporting goods locations with 600 stores. In March it was reported that Dick's might bid on as many as 200 of the more than 450 locations up for grabs. Potential bidders early on in the process that have since backed away include Modell's Sporting Goods and Academy Sports & Outdoors.

For more:
- see this Reuters article