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Dick’s Sporting Goods wins bidding war


Dick’s Sporting Goods was the victor on Thursday at the bankruptcy auction for former rival Sports Authority Holdings.

Dick’s bid $15 million for the brand name and other intellectual property, beating British-based Sports Direct International PLC’s $13 million bid, according to the Wall Street Journal.

Dick’s also had the winning bid at the auction for 31 Sports Authority store leases, for an additional $8 million, the report said.

The winning bids are subject to the approval of the U.S. Bankruptcy Court.

Sports Authority filed Chapter 11 bankruptcy protection in March with more than $1 billion in debt.
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