USASF doesn't have the right... 🧐
Judge rules USASF can't trademark "Worlds", Varsity’s $4.75 billion sale update & should uniform reveal videos exist?
Welcome back to the off-season, where cheer news is a bit quieter than usual! While the season may (mostly) be on pause, some big news is shaking up the cheer industry.
Here are the latest news you won't want to miss 👇
In today’s newsletter:
Judge rules USASF can't trademark "Worlds"
Varsity’s $4.75 billion sale update
All Worlds winners from every U.S. state & country
Should uniform reveal videos exist?
& more!
But first…
Help us make this newsletter better by answering our super quick survey. Your feedback is everything & it will only take a minute:
We greatly appreciate your support - thank you!
Judge rules USASF can't trademark "Worlds"
The U.S. All Star Federation (USASF) has previously filed a lawsuit claiming that the ‘Open Cheer & Dance Championship Series’ and others were infringing on their trademark.
They alleged the infringement was due to the use of the word "Worlds" in competition names (like Allstar Worlds/Allstar World Championship) which they said also confuses consumers.
A Florida judge ruled that the USASF does not have exclusive rights to the word "Worlds," meaning the USASF cannot stop others from using it.
This decision was made before the trial, which is scheduled for September. For more details, you can read the official court document here.
For more like this, check out our newsletters covering lawsuits & investigations.
Varsity’s $4.75 billion sale update
💡 The backstory:
There have been previous reports that Varsity Brands was potentially valued at over $6 billion.
More recently, we reported on the news that KKR (an investment company) is set to buy Varsity from Bain Capital (the investment firm that owns Varsity Brands) for $4.75 billion.
💸 The news:
Sportico has reported details on the financials of this deal, which are somewhat complex. To simplify:
KKR will acquire Varsity Brands from Bain Capital for $4.75 billion, with the deal expected to close by the end of next month.
To finance the acquisition, Varsity will take on $2.375 billion in new debt, plus more. This will help KKR buy out the current Varsity shareholders.
Varsity has been losing money but is projected to have some positive cash flow in 2024.
The article also reports on the various lawsuits against Varsity Brands:
“In recent years, Varsity has at times appeared to be the bane of Bain’s existence, with Varsity Spirit being repeatedly accused of operating as an illegal monopoly and harboring a culture of sex abuse in the sport of club cheer.“
For more details, read the full article here.
🗞️ OTHER NEWS & LINKS
Who won the first gold medal in each state and country? 🥇
“Eight countries and 25 states have won at least one Gold medal at The Cheerleading Worlds.“ See all Worlds winners from every U.S. state & country that have won.
Should uniform reveal videos exist? What do you think?
Are they fun or too much? Vote in the poll below!
Did we miss something? Reply to this email & we'll include it next time!
🏆 COMPETITIONS
LATEST COMPETITIONS:
NYA Association Cheer Nationals (Mississippi).
UPCOMING COMPETITIONS:
Do you know any upcoming competitions? Comment below or reply to this email!
We can't cover all competitions - for more, we suggest CheerTheory & Varsity TV (not sponsored).
💭 POLL OF THE WEEK:
Have more thoughts about this? Share in the comments below!
SHARE THIS NEWSLETTER, GET REWARDED
Your support for our newsletter means everything & we want to give back to you! Earn rewards when you share our newsletter:
Check out the free rewards
Click "Refer a friend” below (or "Share" button in any newsletter)
Share with anyone interested in cheerleading
They join, you get rewarded, repeat!