Sports Authority Field
In 2011, Sports Authority, a sporting goods retailer, bought the naming rights to Mile High Stadium for $6 million a year. In 2016, the company filed for bankruptcy. All of their stores were closed, and the company’s assets were bought by Dick’s Sporting Goods locations ($DICK). The stadium, however, is still called Sports Authority Field at Mile High, despite the company no longer paying for naming rights (as they don’t exist).
According to Consumerist, Hilco Streamback is trying to sell the stadium’s naming rights. While the NFL must approve all naming deals for stadiums, the Broncos’ president and CEO believes they could have a new name before the start of the 2017-2018 season. Otherwise, the team will continue playing games in a stadium named for a company that hasn’t existed for well over a year.
Domino’s Enters the Automated World
Domino’s ($DPZ) made a killing on the stock market ever since they admitted they sold hot garbage and changed their recipe. Now, the company has a new idea to help their bottom line in the future: automated pizza delivery drones. Thanks to a new partnership with Starship Technologies, Domino’s will test delivery robots in Germany and the Netherlands to deliver pizzas within one mile from certain chain locations. Domino’s argues they don’t have enough delivery drivers to keep up with demand, and this pilot program of five pizza robots will help test the waters for expansion in the future. Starship’s robots already deliver food with DoorDash and PostMates in the united states, so apparently seeing a robot carrying your food isn’t all that strange.
Amazon Expands in the Middle East
Amazon ($AMZN) announced yesterday that they purchased Souq.com, the “Amazon of the Middle East.” Amazon’s acquisition is allegedly the largest tech acquisition ever in the Middle East, though the exact price they paid is not known. Amazon’s purchase of Souq lets them expand in new territories, see revenue from new shoppers, and slowly become an even larger international retailer.
On the same day, the company also announced a stateside grocery drop-off service that delivers bags of groceries directly to your trunk. It’s called AmazonFresh Pickup, and it’s debuting soon in Seattle. If it sounds rather bizarre, just wait ’til you see how it works: