SportsLine sacks MVP.com
Sports content site SportsLine.com ends its partnership with the superstar-backed MVP.com, which had a $120 million deal to run SportsLine's Web store.
SportsLine, the publisher of CBS SportsLine.com, said it ended the partnership after 10 months because MVP.com failed to meet certain provisions of the contract, under which MVP.com was to pay SportsLine $10 million a year.
According to SportsLine's third-quarter earnings report, filed in October, MVP.com--which is backed by sport legends John Elway, Michael Jordan and Wayne Gretzky--had fallen behind in its scheduled quarterly payments.
Representatives from both companies did not return calls Monday.
"We are very confident that we will be able to continue to capitalize on our large user base and reach another e-commerce partnership agreement in the very near future," SportsLine chief executive Michael Levy said in a statement.
SportsLine had taken a crack at running its own operations for two years before turning it over to MVP.com.
MVP.com has struggled to stay competitive in the online sporting goods sector.
Like most on the Internet, the sporting goods category is going through a consolidation. Last month, Fogdog and Gear.com, two of the top sporting goods stores, were acquired.