$6 billion 🫢
Possible sale of Varsity Brands, routines scoring 99 or more + you could get money back from FloCheer!
We’ve got a huge newsletter today, so let’s not waste any time and get started right away!
In today’s newsletter:
FloSports settles $2.6 million lawsuit & you could get money back
Possible sale of Varsity Brands (+ $6 billion valuation)
Showcase videos & upcoming dates
How paid bids to Worlds 2024 are awarded
Latest results + upcoming competitions
& much more!
FloSports settles $2.6 million lawsuit & you could get money back!
💬 Summary:
FloSports (the parent company of FloCheer) settled a lawsuit for $2.625 million over unclear automatic subscription renewals. This follows another settlement in July for privacy violations. Due to this, FloCheer subscribers may be eligible for compensation.
⏪ Backstory:
The lawsuit was filed by customers who alleged that FloSports violated laws, by charging customers without proper consent and lacking necessary disclosures. They accused FloSports of using misleading tactics on websites and in apps, leading users into actions they didn't intend, like unintentional purchases or sign-ups. FloSports denied all allegations but agreed to settle the lawsuit for $2.625 million.
💰 How you could get money back:
If you had a FloSports subscription that renewed automatically between August 29, 2018 to June 15, 2023, and your billing address was in California, New York, North Carolina, Oregon, Florida, Illinois, Washington D.C., North Dakota, Virginia, Hawaii, or Vermont, you may be eligible for a payment.
Eligible participants could get a cash payment (up to $30 for annual subscribers and up to $6 for monthly subscribers), a discount on renewal, or a free electronic voucher for a pay-per-view event (with certain exceptions explained on the settlement website).
To join, go to the renewal settlement website to find out more & complete the form. The deadline to do this is January 25, 2024.
📢 Pssst... Coaches, quick reminder!
As you gear up for an incredible season, we're interrupting the news to make sure you're all set with our Coach Planners.
Manage time, stay on top of dates, and track your team. Digital or printable, in different colors - we've got you covered!
🎁 Plus, get 10% off when you refer a cheer friend to our newsletter. Learn how by viewing our referral program.
Grab your planner now by clicking here & set the stage for an epic season!
Possible sale of Varsity Brands (+ $6 billion valuation)
According to Reuters, Bain Capital (the investment firm that owns Varsity Brands) is thinking about selling or taking Varsity Brands public through an “initial public offering” (IPO), aiming for a valuation of more than $6 billion.
Yes, you read that right - that’s billion with a b!
As explained by Forbes, “In an IPO, a privately owned company lists its shares on a stock exchange, making them available for purchase by the general public.”
According to the Reuters article, this move follows a trend where private equity firms (like Bain Capital) are looking to exit from apparel businesses, as seen in recent IPOs and sales.
Also mentioned in the article:
“Varsity Brands generates more than $400 million in 12-month earnings before interest, taxes, depreciation and amortization, the sources added, asking not to be identified because the matter is confidential.“
Our Twitter (we refuse to call it ‘X‘) thread on the topics sparked a few comments & thoughts - click here to see.
Showcase videos & upcoming dates
📷 Showcase videos: Top Gun Allstars, World Cup Allstars, Ace Athletics.
📆 Coming this weekend:
Scotia Cheer Allstars (Canada)
Empire Athletics (Canada)
NFINITE All Stars
See the exact dates + add more showcases here: 2023-2024 Cheerleading Season Showcase Dates
🗞️ OTHER NEWS & LINKS
“Marquee Main Event” teams revealed
Teams for The Spirit Network’s “Marquee Main Event” have been revealed! It’s a special competition where select teams compete against each other in different rounds & will take place on March 16-17 in Las Vegas.
How paid bids to Worlds 2024 are awarded
Varsity has released information about how bids are awarded to The Cheerleading Worlds 2024 at different Varsity events.
To see the “bid declaration“ and how it’s different at CHEERSPORT Nationals + NCA Nationals, we recommend CheerTheory’s post here. You can also find the official document from Varsity here.
Video: 37 Cheer Routines That Scored 99 or More (All Levels)
Watch some of the highest-scoring cheerleading routines, all of which scored an impressive 99 or higher!
Top Gun TGLC theme & music reveal
Inspired by the movie “300“, they are doing a Spartan-inspired theme. Fun fact: there was apparently a hint of it in last year's mix 🧐 We’ll be looking for new theme hints everywhere now…
World Cup Shooting Stars routine is full of throwbacks
And we’re obsessed!
Did we miss something important or fun (from anywhere in the world)? Reply to this email & we'll include it next time!
🏆 COMPETITIONS
LATEST RESULTS & BIDS:
Norwegian Open (Norway), Aloha Trenton Showdown (New Jersey), ATCD The Showdown WA (Australia), UCA Regionals (multiple locations), Encore Atlanta Showdown (Georgia), JAMZ Bid Challenge (California), Star Spirit Bid Bash Championship (Indiana).
🏔️ See the latest Summit bid reveal video here.
UPCOMING COMPETITIONS:
AASCF All Star Nationals (Australia), Championnat Adrénaline (Canada).
We can't cover all competitions - for more recent results and bids, we suggest CheerTheory & Varsity TV (not sponsored).
🦈 TEAM OF THE WEEK: Caralou Sharks
U18 4.2 — Cheer Sport Sharks Newfoundland — Newfoundland (Canada)
Achievements: Previously this team was open 4.2 and won first place at kicks celebrations last season in March!
Goal for the season: To hit consistent zeros and to bond as a team
Fun fact: Most Athletes are brand new to level 4 stunting!