Massive Layoffs Has Hit Sports Illustrated Employees Following The Revocation Of Its Licensing Agreement

Sports Illustrated has terminated a substantial number of employees following the revocation of its license.

On Friday, The Arena Group, the operator of Sports Illustrated and associated properties, sent an email to its employees, informing them that Authentic Brands Group had withdrawn its marketing license.

“As a result of this license revocation, we will be laying off staff that work on the SI brand,” the email read.

The employee union of Sports Illustrated stated in a release that the layoffs could affect a substantial number, potentially encompassing all, of the NewsGuild workers it represents.

“We have fought together as a union to maintain the standard of this storied publication that we love, and to make sure our workers are treated fairly for the value they bring to this company. It is a fight we will continue,” Mitch Goldich, NFL editor and unit chair, said.

Additionally, the guild’s statement also urged Authentic Brands Group to guarantee the ongoing publication of Sports Illustrated and to permit it to continue serving its audience as it has done for nearly 70 years.

Nevertheless, in an official statement, Authentic Brands Group confirmed the termination of Arena Group’s license. Additionally, they affirmed that the Sports Illustrated brand will persist despite the license termination.

“Yesterday, The Arena Group’s license to serve as the publisher of Sports Illustrated was terminated as a result of the company’s failure to pay its quarterly license fee despite being given a notice of breach and an opportunity to cure the breach,” the statement read. “Authentic is here to ensure that the brand of Sports Illustrated, which includes its editorial arm, continues to thrive as it has for the past nearly 70 years.”