82.5 million dollars 💰
Varsity owners settle lawsuit for $82.5 million, Monica Aldama sues former athlete, another arrested coach & more
Just as the U.S. season ends, the lawsuits pick back up… Off-season really doesn’t mean any less drama in this sport!
Here’s what’s been happening in the latest week 👇
In today’s newsletter:
Varsity owners settle lawsuit for $82.5 million
Monica Aldama sues former Navarro cheerleader
Former allstar coach has been arrested
Upcoming competitions around the world
& more!
Varsity owners settle lawsuit for $82.5 million
👉 Check out our “lawsuits & investigations“ page. Find previous newsletters talking about Varsity & USASF lawsuits, gyms being sued, Rockstar Cheer investigations & more.
Varsity and Bain Capital (the company that owns Varsity*) have agreed to settle one of the many lawsuits against them. Here’s some of what was reported:
“Bain Capital, its cheerleading company Varsity Brands and Varsity’s previous owners have agreed to pay $82.5 million to settle a class action lawsuit brought on behalf of cheerleading consumers, or “indirect purchasers,” who accused the defendants of intentionally monopolizing or conspiring to monopolize the cheer competition, camps and apparel markets.“
“In an email statement, a Varsity spokesperson said the company was “pleased” to have reached an agreement. The spokesperson added: “This agreement is not an admission of any wrongdoing or liability, and we are confident that Varsity Spirit acted appropriately and in the best interest of our sport.”
*Bain Capital is the current owner of Varsity Brands, however, they are reportedly thinking of a possible sale of Varsity Brands (at a $6 billion valuation…) Learn more here.
Something is coming soon…
Hints: 📚💻🎓🛠️
Can you guess what it is??
Join the waitlist & be the first to know!
🗞️ OTHER NEWS & LINKS
Netflix’s Cheer coach sues former Navarro College cheerleader, Cheer USA [The Dallas Morning News]
*Trigger warning* Please skip reading it if you need to. You can also find the full lawsuit document here.
Thread of Stingrays team reveals/reactions
Something more light-hearted…Stingray Allstars team reveals are always something extra ✨
Georgia cheer coach accused of filming sexual assault of teen [11Alive News]
*Trigger warning* Please skip reading it if you need to.
Did we miss something? Reply to this email & we'll include it next time!
🏆 COMPETITIONS
LATEST RESULTS & BIDS:
Today is the final day of the ELITE Cheerleading Championship (Germany).
UPCOMING COMPETITIONS:
BCA Allstar Nationals (England), Future Cheer Superhero Spirit Challenge (Scotland), Cosmic Cheer Cup 2024 (Finland), Swedish Open (Sweden), RM & SM (Sweden), TWIST Open (Slovenia).
We can't cover all competitions - for more, we suggest CheerTheory & Varsity TV (not sponsored).
💭 POLL OF THE WEEK:
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