Latest news with #VarsityBrands
Daily Mail
2 days ago
- Business
- Daily Mail
First pro cheerleading league set to launch next year offering dazzling prize incentives to star players
Varsity Brands, a prominent figure in the cheerleading world, is looking to bring in a new era for the sport with the announcement of its Pro Cheer League - which would be the 'world's first' pro cheerleading league. This initiative comes as the company aims to move past a series of legal battles, including antitrust settlements totaling at least $126 million in the last two years alone. The newly formed Pro Cheer League, a subsidiary of Varsity Spirit, is set to launch in 2026. This professional league is considered a huge leap forward, offering cheerleaders a 'long-overdue' pathway to extend their careers beyond their high school and college years. Initial teams will be established in four major cities: Atlanta, Dallas, Miami, and San Diego. The inaugural season will feature five events held across various locations, including Indianapolis, Houston, Atlanta, Anaheim, and Nashville. Each of the four founding teams will have 30 athletes, all aged 18 or older. The selection process for these rosters will be highly competitive and is scheduled to take place this fall. Athletes chosen for the league can anticipate benefits, including 'elite training and part-time compensation,' which includes wages, travel and lodging expenses, uniforms, performance bonuses, and prize incentives. All staff and coaches will required to undergo extensive training as part of the league's strong emphasis on professional standards. The league has committed to making sure it's in full compliance with the guidelines set by USA Cheer, the sport's governing body in the United States. There are also plans for the league to expand its reach with more teams in the years to come. This positive development for professional cheerleading follows a challenging period for Varsity Brands. The company - which was acquired by leading investment firm KKR last year - has faced multiple lawsuits, most notably an antitrust class action in Tennessee that resulted in an $82.5 million settlement last year. This particular lawsuit, initiated by parents of cheerleaders, alleged that Varsity and its former private-equity backers, Bain Capital and Charlesbank Capital, maintained a monopoly over cheerleading events and inflated prices for apparel. Earlier in 2023, Varsity agreed to a $43.5 million settlement in a lawsuit brought by Fusion Elite All Stars, a California-based operator of cheerleading gyms, which highlighted similar antitrust allegations. Despite these settlements, Varsity Brands is still currently facing an ongoing antitrust lawsuit in Texas federal court, filed in 2023 by cheer competition producer Open Cheer. KKR acquired Varsity last summer in a deal valued at $4.75 billion, including debt. Founded in the early 1970s, Varsity Brands is still a big name in cheerleading, organizing over 600 regional and national competitions annually. Some of these competitions are even broadcast on major sports networks like ESPN and CBS Sports. The company also hosts summer camps attended by more than 350,000 people each year and provides extensive support to athletic programs and schools through apparel, training, and educational resources.
Yahoo
10-06-2025
- Yahoo
Lawsuit filed over chaotic Dallas cheerleading event, citing injuries and security failures
The Brief A lawsuit has been filed against the Kay Bailey Hutchison Convention Center, Varsity Brands, and Varsity Spirit after a chaotic incident at a national cheerleading championship in March caused injuries. The incident, which resulted in a stampede and injuries including broken bones and brain bleeds, was triggered by a fight between two parents, not an active shooter as initially feared. Victims are seeking over $1 million in damages, but their attorneys emphasize the lawsuit's main goal is to push for improved security measures at large events. DALLAS - A lawsuit was filed on behalf of several people who were injured when chaos ensued at the Kay Bailey Hutchison Convention Center during the all-star national cheerleading championship in March. While they are asking for $1 million in damages, the victims' attorneys say the lawsuit was filed with the intent of changing security measures at these large-scale events. What we know The management groups for the Kay Bailey Hutchison Convention Center, plus the cheerleading company, Varsity Brands, and Varsity Spirit are facing a lawsuit over the all-star national championship competition. A video from that March weekend shows mass pandemonium as thousands ran in every direction when word spread of a potential active shooter. Dallas police concluded there was no active shooter. It started as a fight between two parents that knocked over several poles and created loud bangs. What they're saying Ashlea Schwarz is an attorney representing the victims in the case. The lawsuit says during the stampede of thousands, her clients suffered broken bones, severe head injuries, and some were separated from their children or parents for hours. It describes one parent who had a "stampede of attendees" running toward her. She "fell and lost consciousness" and "suffered two brain bleeds". The lawsuit also describes a 13-year-old girl who got her hand "stuck in a door" "which required surgery". Separated from her team, she "hid underneath a semi-truck". "How the stampede began and how the crowd crush started. Is not really what's relevant. What's relevant is what they did, and they didn't do after the crowd crush started," said Schwarz. "Just because you weren't shot does not mean that you don't have an injury." Schwarz says her clients are seeking over $1million in damages that would go toward medical bills and mental health treatments, but the lawsuit was filed to highlight alleged inadequate security measures that were in place during the event. "People got trampled, and varsity and the convention center were not ready for it, and they were not equipped, and didn't follow through on their basic duty to provide safety to the patrons at their events." Schwarz believes this won't be the last lawsuit filed about this incident as hundreds have reached out with their own complaints. She hopes it has an impact and creates change when it comes to safety at these large-scale events. "This massive stampede of 1000s and 1000s of people happened, and because no one was shot, we just said, Oh, it was no big deal. And that's part of the purpose of the case is to show that it is a big deal and that these kinds of things can be prevented and should be prevented." What's next FOX 4's Amelia Jones reached out to all the defendants in this case, including Varsity Brands and Varsity Spirit, the cheerleading companies who put on the competition. FOX 4 asked for any statement or comment on the lawsuit and is still waiting to hear back from all of them. The Source Information in this article was provided by public documents from Dallas County.
Yahoo
15-05-2025
- Business
- Yahoo
Varsity Brands Announces $10 Million Fundraising Commitment, Names Patient Play Area at St. Jude Children's Research Hospital
MEMPHIS, Tenn., May 15, 2025--(BUSINESS WIRE)--Varsity Brands, the leading platform for team Sport and Spirit solutions through its divisions BSN SPORTS and Varsity Spirit, has announced a new $10 million, 5-year fundraising commitment to benefit the lifesaving mission of St. Jude Children's Research Hospital: Finding cures. Saving children.® A May 9 ribbon cutting ceremony unveiled the newly named Varsity Brands Play Deck, a 19,985 square foot outdoor space located in The Domino's Village, the newest patient housing facility at St. Jude. The space features a jungle gym, cheer cone shaped bongos, a hopscotch course, picnic chairs, a basketball half court area, outdoor grills and a LED movie screen. The Varsity Brands Play Deck is the first St. Jude space named for the company. "The Varsity Brands Play Deck provides St. Jude Children's Research Hospital patients and families a space to be active, make friends and share memories," said Adam Blumenfeld, CEO of Varsity Brands. "This moment is possible because of the continued support of our employees and customers who have helped raise more than $14 million to ensure families never receive a bill from St. Jude for treatment, travel, housing or food. We look forward to growing our partnership with St. Jude in the years to come." Varsity Brands became an official partner of St. Jude in 2011 when Memphis-based Varsity Spirit launched the "Team Up for St. Jude Spirited by Varsity" program. Today, more than 9,000 employees rally throughout the year to share the St. Jude mission with the next generation of philanthropists through youth led events such as letter writing campaigns at summer camps nationwide and donations at athletic events. "This incredible $10 million commitment from our friends at Varsity Brands is possible because thousands of selfless supporters choose to come together for a common goal," said Ike Anand, interim CEO of ALSAC, the fundraising and awareness organization for St. Jude Children's Research Hospital. "We're grateful to celebrate another five years of partnership with Varsity Brands. This commitment will help make it possible for St. Jude to keep accelerating progress and give more kids a chance to celebrate every moment." Varsity Brands fundraises during St. Jude Memphis Marathon® Weekend, the St. Jude Walk, and through employee giving campaigns as part of their commitment to "elevating the student experience" and engaging the next generation of philanthropists. Bill Seely, CEO of Varsity Spirit, served as the inaugural Corporate Event Chair for St. Jude Memphis Marathon Weekend in 2024, where he rallied other business leaders to support the annual event and largest single day fundraiser for St. Jude. Donate to St. Jude on behalf of Varsity Brands at St. Jude Children's Research Hospital® St. Jude Children's Research Hospital is leading the way the world understands, treats and defeats childhood cancer and other life-threatening diseases. Its purpose is clear: Finding cures. Saving children.® It is the only National Cancer Institute-designated Comprehensive Cancer Center devoted solely to children. When St. Jude opened in 1962, childhood cancer was largely considered incurable. Since then, St. Jude has helped push the overall survival rate from 20% to more than 80%, and it won't stop until no child dies from cancer. St. Jude shares the breakthroughs it makes to help doctors and researchers at local hospitals and cancer centers around the world improve the quality of treatment and care for even more children. Because of generous donors, families never receive a bill from St. Jude for treatment, travel, housing or food, so they can focus on helping their child live. Visit St. Jude Inspire to discover powerful St. Jude stories of hope, strength, love and kindness. Support the St. Jude mission by donating at liking St. Jude on Facebook, following St. Jude on X, Instagram, LinkedIn and TikTok, and subscribing to its YouTube channel. View source version on Contacts Media Contact: Kurt 901.297.3512
Yahoo
18-04-2025
- Business
- Yahoo
Shuffle Board: Woolmark Winner Now Jean Paul Gautier's First Successor
Athletic brand Under Armour announced that Dawn Fitzpatrick, Eugene Smith and Robert Sweeney will join the company's board of directors. Fitzpatrick has served as CEO of Soros Fund Management, a privately held investment firm, since 2017 and currently sits on the Federal Reserve Bank of Dallas Financial Sector Advisory Council, the Advisory Council of The Bretton Woods Committee, and the Bloomberg New Economy advisory board. Smith served as senior vice president and athletic director at Ohio State University from 2005-24, during which he co-chaired the NCAA's Federal-State Legislative Working Group and participated in the NCAA's Management Council, among others. More from Sourcing Journal Material World: Circ Secures 5-Year Partner, Sodra's Tannin Arms Call Shuffle Board: Mytheresa Tweaks Leadership Team, Fair Trade Finds CEO Fall/Winter 26-27 Preview: Mills Focus on Fiber Selection and Water Conservation Since 2019, Sweeney has served as president of private equity firm Sycamore Partners, previously spending 22 years at Goldman Sachs, most recently as a partner and global head of the consumer and retail investment banking group. During his tenure at Sachs, Sweeney provided advisory support to Under Armour, including its initial public offering in 2005. Luxury conglomerate executive Bernard Arnault told shareholders that Jonathan Anderson has been named artistic director of Christian Dior Couture men's collections. Before leaving Loewe last month, Anderson served as the fellow-LVMH-maison's creative director since 2013. Bain Capital-owned cheerleading apparel provider Varsity Brands has named ex pro-footballer Donald Driver as Surge by BSN Sports' inaugural chief motivation officer. In this role, Driver will support the program empowering young women to stay in school and in sports. The appointment follows the April 11 settlement to pay $82.5 million for an antitrust class action lawsuit alleging Varsity Brands violated federal antitrust laws (among others) in 24 states regarding the monopolization of cheerleading events. In October 2023, Varsity Brands agreed to pay $43.5 million to resolve similar claims filed in May 2020. Piug-owned brand Jean Paul Gaultier has named Duran Lantink as creative director. The house announced its first-ever successor five years after Jean Paul Gaultier retired, with the Dutch designer appointed head of both ready-to-wear and haute couture collections. His debut is set for September's Paris Fashion Week with the brand's first ready-to-wear show in over a decade—following prêt à porter's 2014 shuttering—while his haute couture debut is expected next January. Contemporary retailer Vince named Yuji Okumura as chief financial officer. Okumura has served as the company's interim CFO since March and as controller since September 2020, though he joined in 2018 as director of financial reporting. Before Vince, Okumura spent over a decade in public accounting. The largest U.S. beauty retailer, Ulta Beauty, has named Lauren Brindley as chief merchandising and digital officer, effective June 3. Brindley will succeed Monica Arnaudo, retiring after nearly eight years with the company. In this role, Brindley will be responsible for merchandising, e-commerce, wellness and marketplace strategies, leading Ulta's assortment brand-building efforts. Brindley most recently served as CEO of Revolution Beauty and previously held senior leadership positions at Walgreens and Boots UK. Wood-based fiber producer Lenzing elected Patrick Lackenbucher and Leonardo Grimaldi as new supervisory board members and extended the mandate of Stefan Fida. They will serve 'until the end of the annual general meeting that adopts the resolution that discharges the supervisory board members acting in the 2029 financial year,' the group said. The elections were due to the expiry of the office terms for Fida and of chairman Cord Prinzhorn, who is stepping down to concentrate entirely on the B&C Group. At the subsequent constituent meeting of the supervisory board, Lackenbucher was elected chairman, Carlos de Almeida was elected first deputy chairman, and Fida was elected second deputy chairman of the supervisory board. Interlining and inner components producer Chargeurs has added five executives to its expanding team. The global leadership team saw Riccardo Cossu named as general manager of the EMEA region and Laure Sénéquier-Crozet named as general manager of the Senfa Cilander division. The executive team was bolstered with the appointment of Dmitry Fedorov as deputy CIO, as well as Claudia Rovati and Elisabetta Nicoli's appointments as global sales director and supply chain manager of the shirting division, respectively. Philanthropic organization the Virgil Abloh Foundation (VAF) has named Athiththan Selvendran as chief creative officer. He is the late designer's longtime chief of staff and current chief operating officer of Virgil Abloh Securities (VAS). In his 'dual capacities,' Selvendran will continue to see the day-to-day operations of VAS—the Virgil Abloh creative nucleus owned by Shannon Abloh—which is also VAF's corporate counterpart. AS CCO, Selvendran will preserve, catalog and launch the Virgil Abloh Archives, co-lead cultural collaboration efforts and spearhead the creative design process of global initiatives. Sign in to access your portfolio
Yahoo
18-04-2025
- Business
- Yahoo
Shuffle Board: Woolmark Winner Now Jean Paul Gautier's First Successor
Athletic brand Under Armour announced that Dawn Fitzpatrick, Eugene Smith and Robert Sweeney will join the company's board of directors. Fitzpatrick has served as CEO of Soros Fund Management, a privately held investment firm, since 2017 and currently sits on the Federal Reserve Bank of Dallas Financial Sector Advisory Council, the Advisory Council of The Bretton Woods Committee, and the Bloomberg New Economy advisory board. Smith served as senior vice president and athletic director at Ohio State University from 2005-24, during which he co-chaired the NCAA's Federal-State Legislative Working Group and participated in the NCAA's Management Council, among others. More from Sourcing Journal Material World: Circ Secures 5-Year Partner, Sodra's Tannin Arms Call Shuffle Board: Mytheresa Tweaks Leadership Team, Fair Trade Finds CEO Fall/Winter 26-27 Preview: Mills Focus on Fiber Selection and Water Conservation Since 2019, Sweeney has served as president of private equity firm Sycamore Partners, previously spending 22 years at Goldman Sachs, most recently as a partner and global head of the consumer and retail investment banking group. During his tenure at Sachs, Sweeney provided advisory support to Under Armour, including its initial public offering in 2005. Luxury conglomerate executive Bernard Arnault told shareholders that Jonathan Anderson has been named artistic director of Christian Dior Couture men's collections. Before leaving Loewe last month, Anderson served as the fellow-LVMH-maison's creative director since 2013. Bain Capital-owned cheerleading apparel provider Varsity Brands has named ex pro-footballer Donald Driver as Surge by BSN Sports' inaugural chief motivation officer. In this role, Driver will support the program empowering young women to stay in school and in sports. The appointment follows the April 11 settlement to pay $82.5 million for an antitrust class action lawsuit alleging Varsity Brands violated federal antitrust laws (among others) in 24 states regarding the monopolization of cheerleading events. In October 2023, Varsity Brands agreed to pay $43.5 million to resolve similar claims filed in May 2020. Piug-owned brand Jean Paul Gaultier has named Duran Lantink as creative director. The house announced its first-ever successor five years after Jean Paul Gaultier retired, with the Dutch designer appointed head of both ready-to-wear and haute couture collections. His debut is set for September's Paris Fashion Week with the brand's first ready-to-wear show in over a decade—following prêt à porter's 2014 shuttering—while his haute couture debut is expected next January. Contemporary retailer Vince named Yuji Okumura as chief financial officer. Okumura has served as the company's interim CFO since March and as controller since September 2020, though he joined in 2018 as director of financial reporting. Before Vince, Okumura spent over a decade in public accounting. The largest U.S. beauty retailer, Ulta Beauty, has named Lauren Brindley as chief merchandising and digital officer, effective June 3. Brindley will succeed Monica Arnaudo, retiring after nearly eight years with the company. In this role, Brindley will be responsible for merchandising, e-commerce, wellness and marketplace strategies, leading Ulta's assortment brand-building efforts. Brindley most recently served as CEO of Revolution Beauty and previously held senior leadership positions at Walgreens and Boots UK. Wood-based fiber producer Lenzing elected Patrick Lackenbucher and Leonardo Grimaldi as new supervisory board members and extended the mandate of Stefan Fida. They will serve 'until the end of the annual general meeting that adopts the resolution that discharges the supervisory board members acting in the 2029 financial year,' the group said. The elections were due to the expiry of the office terms for Fida and of chairman Cord Prinzhorn, who is stepping down to concentrate entirely on the B&C Group. At the subsequent constituent meeting of the supervisory board, Lackenbucher was elected chairman, Carlos de Almeida was elected first deputy chairman, and Fida was elected second deputy chairman of the supervisory board. Interlining and inner components producer Chargeurs has added five executives to its expanding team. The global leadership team saw Riccardo Cossu named as general manager of the EMEA region and Laure Sénéquier-Crozet named as general manager of the Senfa Cilander division. The executive team was bolstered with the appointment of Dmitry Fedorov as deputy CIO, as well as Claudia Rovati and Elisabetta Nicoli's appointments as global sales director and supply chain manager of the shirting division, respectively. Philanthropic organization the Virgil Abloh Foundation (VAF) has named Athiththan Selvendran as chief creative officer. He is the late designer's longtime chief of staff and current chief operating officer of Virgil Abloh Securities (VAS). In his 'dual capacities,' Selvendran will continue to see the day-to-day operations of VAS—the Virgil Abloh creative nucleus owned by Shannon Abloh—which is also VAF's corporate counterpart. AS CCO, Selvendran will preserve, catalog and launch the Virgil Abloh Archives, co-lead cultural collaboration efforts and spearhead the creative design process of global initiatives. Sign in to access your portfolio
