Global Sports to Launch the Sports Authority.com Auction
GLOBAL SPORTS, INC. (NASDAQ: GSPT) an e-Tail company that operates the Internet businesses of leading sporting goods retailers under exclusive long-term agreements, including The Sports Authority, Inc. (NYSE: TSA), announced today that it plans to launch a comprehensive consumer-to-consumer sporting goods auction in the fourth quarter of 1999 as part of the www.thesportsauthority.com web-site. Thesportsauthority.com is a partnership that is jointly owned by The Sports Authority and Global Sports.
TheSportsAuthority.com Auction will enable consumers to directly offer for sale to other consumers an unlimited selection of sports related products in categories including, camping/hiking, cycling, fishing, golf, fitness equipment, team sports, skating, tennis/racquet sports and sports memorabilia, through an efficient, widely accessible and community building medium.
Michael Rubin, Chairman and CEO of Global Sports, commented, “We believe the growth opportunity for category-specific online auctions is enormous. By offering individuals a chance to trade merchandise under the banner of such a well known and respected retailer, The Sports Authority and Global Sports are truly positioned to be the leaders in consumer-to-consumer sporting goods auctions.”
Further strengthening the expected reach of The Sports Authority auction will be its inclusion in the FairMarket Auction Network, the largest online auction network comprising the leading portals and vendors on the Web, with a total reach of more than 46 million visitors.
Scott Randall, CEO of FairMarket, said “We are very enthusiastic to have TheSportsAuthority.com and its partner Global Sports join the FairMarket Auction Network. The strong leadership position of The Sports Authority in sports retailing combined with Global Sports’ leading position in sporting goods e-commerce should be a great combination for creating a robust and engaging auction.”
Marty Hanaka, CEO of The Sports Authority, noted, “We are excited to announce The Sports Authority’s new online auction. We believe that the wide recognition of The Sports Authority brand combined with the power of the Internet auction concept is truly a winning formula. We look forward to telling the roughly 50 million consumers that walk through our stores each year about this great feature of our web-site, with major in-store promotional efforts.”
Global Sports, Inc. (http://www.GS-Interactive.com), is an e-Tail company that has entered into exclusive long-term agreements to operate the Internet businesses of multiple sporting goods retailers, including The Sports Authority, The Athlete’s Foot, Sport Chalet, MC Sports and Sports and Recreation. On July 26, 1999 SOFTBANK Capital Partners LP invested $80 million into Global Sports, Inc. Global Sports, Inc. shares are included in the Russell 2000 index.
The Sports Authority, Inc. (http://www.thesportsauthority.com) directly operates 201 full-line sporting goods superstores: 196 stores in 32 states across the United States and five in Canada. Mega Sports Co., Ltd. operates another 15 stores in Japan under a license agreement with The Sports Authority.
FairMarket Inc. (http://www.fairmarket.com), founded in 1997 and based in Woburn, Mass., provides online, hosted auctions or e-commerce leaders. The company has created the FairMarket Auction Network, the largest online auction network comprising the leading portals and vendors on the Web, with a total reach of more than 46 million visitors. FairMarket AuctionPlace is a fully outsourced, private-label, customized solution that helps companies expand their distribution and create a new e-commerce profit center.
Contact:
Michael R. Conn
Senior Vice President Strategic Development
(610) 768-0900
Connm@Globalsportsinc.com
