Dick's wins Sports Authority brand

Dick's Sporting Goods now owns the Sports Authority brand, having bid $15 million at auction for the intellectual property.

Counted among the defunct retailer's intellectual property are the e-commerce website and the loyalty club with its 28.5 million members and accompanying data, according to Reuters.  

U.K.-based Sports Direct had the second highest bid at $13 million. The deal still needs to be signed off on by the U.S. bankruptcy court.

Dick's will also take over 31 Sports Authority locations for another $8 million, which is significantly more stores than expected. Dick's could open discount outlets under the Sports Authority brand, an analyst told Reuters.

The assets were auctioned off earlier this week, although naming rights for Denver's football stadium are still in limbo.

Sports Authority filed for Chapter 11 bankruptcy protection in March and originally intended to reorganize.

For more:
- see this Reuters story

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