Raphael Stevens

The NFL plans to fine more than 100 players and roughly two dozen club employees who were found to be in violation of the NFL’s Ticket Resale policy.
Violators will be fined up to 2 times the face value of the tickets they resold.
The league is also taking steps to enhance compliance training ahead of Super Bowl 60 and said it will increase penalties for future offenses.

A detail shot of the Lombardi Trophy next to Kansas City Chiefs and Philadelphia Eagles helmets prior to a news conference on February 03, 2025 in New Orleans, Louisiana ahead of the NFL Super Bowl LIX football game between the Philadelphia Eagles and the Kansas City Chiefs.
Kevin Sabitus | Getty Images Sport | Getty Images

The NFL is cracking down on the resale of Super Bowl tickets by players, coaches and club employees.
The league plans to fine more than 100 players and roughly two dozen club employees who were found to be in violation of the NFL’s Ticket Resale policy in connection with Super Bowl 59 tickets, according to an internal memo from the league’s chief compliance officer, Sabrina Perel, that was viewed by CNBC.

An investigation found that those players and personnel were selling these tickets to resale “bundlers” at a profit, according to the memo.
Players will be fined 1.5-times the face value of the tickets they sold, and employees will be fined twice the face value, according to a person familiar with the matter who declined to be named speaking about nonpublic details.
Non-player personnel found in violation of the policy will also lose the ability to purchase future NFL tickets, according to the memo.
The league prohibits employees and players from selling NFL game tickets acquired from their employer for more than the ticket’s face value or more than the employee originally paid — whichever is less.
The league is also taking steps to enhance compliance training ahead of Super Bowl 60 and said it will increase penalties for future offenses.
“No one should profit personally from their NFL affiliation at the expense of our fans,” Perel wrote in the memo. More

Auction sales have been declining for the third year in a row and are down 44% — or more than $3 billion — from the first six months of 2022.
But the prosperity of the wealthy is at record levels, raising questions about a bigger shift in the art market.
Auction houses are working to attract younger clients with more online sales, luxury items and lower-priced offerings.

Ups and Downs by KAWS, estimated£30000-£50000, on display during a preview at the Phillips showroom in central London, ahead of their forthcoming Evening and Day Editions auction. Picture date: Friday January 17, 2025. (Photo by Ian West/PA Images via Getty Images)
Ian West – Pa Images | Pa Images | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Auction sales have been declining for the third year in a row, as dealers, auctioneers and collectors ponder a deeper crisis in the art market.

Auction sales for the first half of the year at Sotheby’s, Christie’s and Phillips fell to $3.98 billion, a drop of 6% compared with the same period in 2024, according to ArtTactic. The auction total is the lowest in at least a decade (setting aside the 2020 pandemic) and is now down 44% — or more than $3 billion — from 2022. The declines follow a 19% drop in 2023 and 26% decline in 2024.

Postwar and contemporary art, which has been the main engine of growth for art auctions in recent decades, fell by an even greater 19% in the first half, according to ArtTactic.
“Lingering concerns over global economic growth, ongoing inflation, and rising geopolitical tensions are weighing on confidence and creating a more cautious investment climate,” ArtTactic said. “These factors are likely to challenge the market’s momentum in the second half of the year, as the industry adapts to a still-uncertain global landscape.”
Those lingering concerns, however, aren’t showing up in other areas of the wealth economy. The prosperity of the wealthy is at record levels, with the top 10% of Americans adding $37 trillion to their wealth since Covid, marking a 45% increase. Stock markets were up more than 20% in both 2023 and 2024 and are up again so far in 2025. Housing values and business valuations have also soared, adding to personal wealth.
Yale professor William Goetzmann has studied the relationship between art prices and financial wealth going back over 300 years and found they are “highly correlated.”

“Demand for art increases with the wealth of art collectors,” he wrote in his famous paper “Accounting for Taste, Art and the Financial Markets over Three Centuries.”
With personal wealth at all-time highs, however, Goetzmann said the 300-year correlation is broken. He said there are one of two explanations for the divergence: Either the dip in the art market is a temporary aberration and will bounce back this year or next, or the art market is going through a more structural change.
“The question is, is there some kind of fundamental deviation from the social norm of the very wealthy being highly involved in collecting art at the highest prices and levels,” he said. “We don’t know yet.”

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That fundamental deviation, if it’s happening, may be rooted in the generational shift in wealth. For decades, the art market has been driven largely by baby boomers who built large art collections as their wealth grew throughout the 1980s, ’90s and 2000s. Many of those baby boomer collectors are now buying less or downsizing. And a growing number are leaving estates with large collections to sell, since their kids often don’t want the art.
At the same time, the new generation of wealthy — millennials and Gen Z — grew up in a more digital world and may not have the same tastes or interest in the paintings of 20th century artists. With over $100 trillion in wealth expected to pass mainly from baby boomers to the next generation, some experts say the art market may be showing signs of structural change and a more existential crisis.
The auction houses are racing to adapt with more online sales, luxury items and lower-priced offerings. Auction sales in the luxury category — including jewelry, handbags, wine, watches and sports memorabilia — grew 1% in the first half even as art sales declined, according to ArtTactic.
Jewelry is shining especially bright among young, female collectors as more wealth shifts to women. Jewel and jewelry sales jumped 68% in the first half compared to a year ago. Online auctions are also rapidly gaining share over physical auctions as younger collectors prefer to bid from their phones.
Total auction sales at Christie’s were stable in the first half, thanks in large part to online sales and luxury. Its luxury sales, which also included classic cars, surged 29% to $468 million. Among the highlights: the Marie-Therese Pink Diamond, said to have belonged to Marie Antoinette, which sold for $14 million, and the “Blue Belle” fancy vivid blue diamond went for $11 million.
The shine from jewelry and luxury goods is also helping Sotheby’s, which sold its own blue diamond, the famed “Mediterranean Blue,” for $21.5 million in May after a fierce bidding war.
Younger collectors are driving strong demand for collectibles priced under $100,000, with the most competitive bidding for works under $50,000.  The top end of the art market, with lots priced at over $10 million, plunged 39% last year, while sales of works for less than $5,000 jumped 13%, according to the Art Basel and UBS Global Art Market Report.
Bonnie Brennan, CEO of Christie’s, told reporters that the auction’s house’s chief mission is to offer the objects that its clients want today, and offer them at the right price — especially for the new generation of collectors. Fully 80% of its bids this year have been online and nearly a third of winning bids came from millennial or Gen Z buyers.
“We are showing great relevance to the younger generation, to millennials, to Gen Z,” Brennan said. “It’s something that’s really critical to sustain our business going forward.” More

The FCC cleared the way for a merger between Paramount and Skydance.
The $8 billion deal includes Paramount Pictures, the CBS broadcast network and the Nickelodeon channel.
FCC Chairman Brendan Carr said there would be “significant changes” at CBS and noted that Skydance had agreed not to establish any DEI initiatives.

The Paramount Global headquarters in New York, US, on Tuesday, Aug. 27, 2024. 
Yuki Iwamura | Bloomberg | Getty Images

The Federal Communications Commission cleared the way Thursday for an $8 billion merger between Paramount and Skydance Media.
The deal, which was announced more than a year ago, includes the CBS broadcast television network, Paramount Pictures and the Nickelodeon channel.

“Americans no longer trust the legacy national news media to report fully, accurately, and fairly,” Brendan Carr, chairman of the FCC, wrote in a statement Thursday. “It is time for a change. That is why I welcome Skydance’s commitment to make significant changes at the once storied CBS broadcast network.”
Carr said Skydance had made written commitments to ensure the new company’s programing would have a diversity of viewpoints across the political and ideological spectrum. Skydance also said it would hire a third-party impartial outsider to report to the president of the new company to evaluate complaints of bias.
The FCC chairman noted that Skydance does not have any DEI programs in place and has agreed not to establish any such initiatives at the new company.
Paramount chair Shari Redstone is set to depart the company’s board once the Skydance merger is complete. Her family’s company National Amusements is selling its controlling stake in Paramount to Skydance.
Skydance is owned by David Ellison, the soun of Oracle founder and billionaire Larry Ellison.

The decision by the FCC to greenlight the merger was not unanimous. Commissioner Anna Gomez, the lone Democrat on the three-person commission, opposed the move, saying she was troubled by Paramount’s recent payment to settle a suit brought by President Donald Trump against CBS’s “60 Minutes.”
“The Paramount payout and this reckless approval have emboldened those who believe the government can — and should-abuse its power to extract financial and ideological concessions, demand favored treatment, and secure positive media coverage,” she wrote in a dissent statement.
The FCC’s ruling comes less than a month after Paramount agreed to pay $16 million to Trump after he sued the company over the editing of a “60 Minutes” interview with former Vice President Kamala Harris. It also occurred a week after CBS announced it was canceling “The Late Show with Stephen Colbert.”
Colbert had called the settlement a “big fat bribe” during one of his monologues last week, referencing the $8.4 billion pending merger between Paramount and Skydance Media, which required the approval of the Trump administration to proceed.
At the time, Paramount and CBS executives released a statement saying the cancellation was “purely a financial decision against the challenging backdrop in late night.”
However, the timing of its decision has been called into question by a number of political figures and Hollywood trade groups.
The Writer’s Guild of America asked New York State Attorney Letitia James to join California and launch an investigation into potential wrongdoing at Paramount.
“Cancelations are part of the business, but a corporation terminating a show in bad faith due to explicit or implicit political pressure is dangerous and unacceptable in a democratic society,” the WGA wrote in a statement last week. “Paramount’s decision comes against a backdrop of relentless attacks on a free press by President Trump, through lawsuits against CBS and ABC, threatened litigation of media organizations with critical coverage, and the unconscionable defunding of PBS and NPR.”
Democratic Senators Adam Schiff, of California, and Elizabeth Warren, of Massachusetts, also questioned the deal.
“Was it a coincidence that CBS canceled Colbert just three days after he spoke out?” Warren wrote in an op-ed for Variety published Wednesday. “Are we sure that this wasn’t part of a wink-wink deal between the president and a giant corporation that needed something from his administration?” More

Comcast on Thursday announced the expected board members of its cable networks spinout, Versant.
They come from backgrounds in media, technology, finance and other industries, according to Versant.
The spinoff is expected to be completed by the end of this year.

Versant signage on the floor at the New York Stock Exchange on July 21, 2025.
Michael Nagle | Bloomberg | Getty Images

Comcast on Thursday announced the expected board members of its cable networks spinout, Versant.
They come from backgrounds in media, technology, finance and other industries, according to Versant.

Versant will be the parent company of what are now NBCUniversal’s cable networks, including USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel. On the digital front, it is also set to house Fandango, Rotten Tomatoes, GolfNow, GolfPass and SportsEngine.
The spinoff is expected to be completed by the end of this year.
Here is the slate of board members:
Mark Lazarus
Mark Lazarus is the CEO of Versant. Previously, he was chairman of NBCUniversal Media Group.

Mark Lazarus, CEO of Versant, visits the floor at the New York Stock Exchange on July 21, 2025.
Brendan McDermid | Reuters

“The announcement of the future Board marks a critical milestone as we define our long-term strategy and advance the value of our iconic media portfolio,” Lazarus said in a statement. “I look forward to collaborating with this distinguished group as we establish a leading independent media company.”

David Novak
David Novak is the prospective chairman of Versant.
He is a longtime board member of Comcast and the former CEO of Yum Brands. He will resign from his position on Comcast’s board at the time of the spinoff, according to Versant.
Rebecca Campbell
Rebecca Campbell is the former chairman of international content and operations at The Walt Disney Company. She is also the interim CEO of Meow Wolf, an arts and entertainment company.
Creighton Condon
Creighton Condon is counsel at global law firm A&O Shearman, advising clients on mergers, acquisitions, divestitures and joint ventures. He also counsels boards of directors and special committees.
Michael Conway
Michael Conway is the former CEO of Starbucks North America. Prior to Starbucks, he worked at Johnson & Johnson and Campbell Soup Company. He has also served as a McCormick board director for the past 10 years.
David Eun
David Eun is a founding advisor to generative artificial intelligence firm Kanza AI, which is focused on health, wellness and medicine. He is also co-founder of investment firm Alakai Group. Previously, he was president and chief innovation officer of Samsung Electronics.
Gerald Hassell
Gerald Hassell is the former chairman and CEO of the Bank of New York Mellon. He is also a former director of Comcast and MetLife.
Scott Mahoney
Scott Mahoney is the chairman and CEO of Peter Millar, a golf apparel company. He previously worked at Polo Ralph Lauren. He is also on the board of directors of Fleet Feet, a running shoe and apparel company.
Maritza Montiel
Maritza Montiel is the former deputy CEO and vice chairman of Deloitte & Touche LLP’s U.S. business.
Montiel has served on the board of directors at McCormick for the past 10 years and is currently on the board of directors for cruise company Royal Caribbean. She is a former director of Comcast and Aptar.
Len Potter
Len Potter founded Wildcat Capital Management, a registered investment advisor, and has served as its president and CEO since its start. He is also a founder and senior managing director of Vida Ventures, a biotech venture fund.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC under the proposed spinoff.

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McDonald’s shuttered CosMc’s, but the burger chain is planning to test new coffee drinks, refreshers and flavored sodas inspired by the spinoff brand.
The initial test will include more than 500 restaurants in Wisconsin, Colorado and the surrounding areas.
Fast-food chains have been leaning into fun, colorful drinks to win over younger consumers.

Something Bold (and Delicious) is Brewing at McDonald’s: A First Sip into the Future of Beverages
Courtesy: McDonald’s

McDonald’s said Thursday it is planning to test new coffee drinks, refreshers and flavored sodas at more than 500 restaurants later this summer, hoping to cash in on younger consumers’ love for fun, colorful drinks.
“We’re seeing real momentum in beverages, with more people – especially our Gen Z fans – turning to cold, flavorful drinks as a go-to treat,” Alyssa Buetikofer, chief customer experience and marketing officer of McDonald’s USA, said in a statement. “It’s a great opportunity for us to meet our US customers’ evolving tastes and show up in new moments, like afternoon refreshment or snack breaks.”

The test lineup includes Creamy Vanilla Cold Brew, Strawberry Watermelon Refresher, Toasted Vanilla Frappe, Sprite Lunar Splash and Popping Tropic Refresher, as well as others not yet shared by McDonald’s.
The initial stage of the test will only include locations in Wisconsin, Colorado and the surrounding areas, according to McDonald’s. The chain is hoping to learn more about what customers like best, plus how to make an expanded drink lineup work for its restaurants and franchisees.
McDonald’s announcement on Thursday comes after the chain began shuttering its stand-alone locations of its once-buzzy CosMc’s brand last month. The spinoff, which focused on snacks and customizable drinks, initially inspired hourslong lines from customers eager to try something new. But after 18 months, McDonald’s chose to wind down the brand and instead bring beverages influenced by CosMc’s to its own restaurants.
Expanding the burger chain’s drinks lineup could help McDonald’s compete better with fast-growing beverage chains like Dutch Bros., 7 Brew Drive Thru Coffee and Swig, which have all leaned into consumers’ desire to customize their drinks.
New drinks could also drive more customers to McDonald’s restaurants. In recent quarters, the burger chain has reported lackluster sales as consumers spend less money on its french fries and Big Macs. McDonald’s U.S. same-store sales fell 3.6% in the first three months of the year; the company is expected to report its second-quarter results on Aug. 6.
Fast-food rivals have also recently been looking beyond the soda fountain for drink options that will appeal to diners. Earlier this month, Yum Brands’ Taco Bell unveiled a new Refrescas lineup; the chain also plans to expand its in-restaurant drinks concept called the Live Mas Cafe later this year. Wendy’s added three new sour Powerade options to its drinks lineup in June. And earlier this summer, KFC collaborated with PepsiCo’s Mountain Dew on a “dirty” soda, made with sweet vanilla cream.

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UnitedHealth Group revealed it is facing a Justice Department criminal and civil investigation over its Medicare billing practices, adding to a string of setbacks for a company that owns America’s largest and most powerful private insurer.
UnitedHealth also said it has launched a third-party review of its business policies and performance metrics.
It comes after a tumultuous last year for UnitedHealthcare, the nation’s largest and most powerful private health insurer.

The UnitedHealth logo on a laptop arranged in New York, US, on Friday, July 7, 2023.
Gabby Jones | Bloomberg | Getty Images

UnitedHealth Group revealed Thursday it is facing a Justice Department investigation over its Medicare billing practices, adding to a string of setbacks for a company that owns the nation’s largest and most powerful private insurer.
In a securities filing, the company said it has started complying with formal criminal and civil requests from the DOJ, and that it reached out to the department after reports of the probes surfaced. UnitedHealth also said it has launched a third-party review of its business policies and performance metrics.

The company told CNBC that it expects to complete that review towards the end of the third quarter.
In the filing, UnitedHealth said it “has full confidence in its practices and is committed to working cooperatively with the Department throughout this process.”
UnitedHealth Group shares dropped around 3% in premarket trading Thursday. The company’s executives will likely face questions about the probe during its second-quarter earnings call on July 29.
Jared Holz, Mizuho Securities health care strategist, said in an email to clients on Thursday that the announcement is “not shocking,” but noted that the company previously denied DOJ investigation claims. He said UnitedHealth’s decision to admit to the probe and cooperate with the department “all sounds logical as it moves forward with a new CEO.”
The company announced the abrupt departure of former CEO Andrew Witty in May.

UnitedHealth’s announcement on Thursday comes after the Wall Street Journal reported in May that the Department of Justice is conducting a criminal investigation into the health-care giant over possible Medicare fraud. In response at the time, the company said it stands “by the integrity of our Medicare Advantage program.”
In July, the Journal also reported that the DOJ interviewed several doctors about UnitedHealth’s practices and whether they felt pressured to submit claims for certain conditions that bolstered payments from the Medicare Advantage program to the company. 
That marked the second time this year that the insurer’s Medicare Advantage business has come under federal scrutiny. The Journal also reported in February that the DOJ is conducting a civil investigation into whether the company inflated diagnoses to trigger extra payments to its Medicare Advantage plans. 
But on Thursday, UnitedHealth said independent audits by the Centers for Medicare and Medicaid Services “confirm” that the company’s practices are “among the most accurate in the industry.”
UnitedHealth also pointed to a special master’s recommendation in March in favor of the company in a yearslong legal battle with the DOJ that began with a whistleblower who alleged the company illegally withheld at least $2 billion through the Medicare Advantage program. The special master assigned to the case by a judge said the DOJ lacked evidence. 
UnitedHealthcare’s Medicare and retirement segment, which includes the Medicare Advantage business, is UnitedHealth Group’s largest revenue driver, raking in $139 billion in sales last year.
The update in the probe comes after a tumultuous last year for UnitedHealthcare. Shares of UnitedHealthcare’s parent company, UnitedHealth Group, are down more than 42% for the year after it suspended its 2025 forecast amid skyrocketing medical costs, announced the surprise exit of Witty and grappled with the reported probe into its Medicare Advantage business. 
The company’s 2024 wasn’t any easier, marked by a historic cyberattack and the torrent of public blowback after the murder of UnitedHealthcare’s CEO Brian Thompson.
— CNBC’s Bertha Coombs contributed to this report. More

American Airlines’ third-quarter profit forecast fell short of Wall Street expectations.
The carrier also issued lower guidance for the full year than it had previously projected.
American beat earnings and revenue estimates for the just-completed second quarter.

American Airlines shares slumped Thursday after the carrier’s third-quarter profit forecast fell short of Wall Street’s expectations and it reinstated its 2025 financial forecast well below its outlook at the start of the year.
CEO Robert Isom told CNBC’s “Squawk Box” that the results are driven by consumer weakness, flat corporate travel demand that continued into the start of the summer and operational problems from a series of storms.

“July’s been a tough month … because of the domestic consumer weakness,” Isom said.
Demand appears better in the coming months, he said, and American is scaling back its capacity growth.
Delta Air Lines and United Airlines earlier this month said travel demand has stabilized, though both carriers issued lower 2025 forecasts than at the beginning of the year.
American on Thursday forecast a 2025 adjusted per-share loss of as much as 20 cents or earnings of as much as 80 cents, down from adjusted earnings estimates of between $1.70 and $2.70 it made in January. American, along with other airlines, pulled its 2025 financial outlook in April as carriers grappled with on-again, off-again tariffs and weaker-than-expected domestic demand.

Read more CNBC airline news

For the third quarter, American said it expects an adjusted per-share loss of 10 cents to 60 cents, while analysts polled by LSEG estimated a 7-cent loss.

The airline said in an earnings release that it only expects the low end of its forecast if “there were to be macro weaknesses that are not seen today” and the high end if the domestic travel market continues to improve.
Domestic travel demand has been a weak spot this year, though many U.S. travelers have continued to fly abroad in droves to popular destinations like Japan and Italy. American’s passenger revenue per available domestic seat mile, a pricing power gauge, was down more than 6% in the second quarter, while it was up nearly 3% for international.
Here is how American performed in the second quarter compared with Wall Street estimates compiled by LSEG:

Earnings per share: 95 cents adjusted vs. 78 cents
Revenue: $14.39 billion vs. $14.3 billion expected

In the three months ended June 30, American’s revenue rose 0.4% to $14.39 billion, ahead of expectations, while net income dropped 16.5% to $599 million, or 91 cents a share. Adjusting for one-time items, American posted earnings of $628 million, or 95 cents a share, well ahead of analysts’ expectations.
Correction: This story has been updated to correct the earnings per share for the second quarter.

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Eli Manning has invested in equipment maker XTech, which produces custom shoulder pads.
The former quarterback wore XTech during his playing days.
XTech has dominated the professional and college markets — they are now looking to capture the youth market.

Two-time Super Bowl MVP Eli Manning may have hung up his shoulder pads, but he’s still taking interest in the gear.
The former New York Giants quarterback on Thursday announced he has invested in sports protective equipment maker XTech.

Manning, who wore XTech shoulder pads during his playing days, said he took a stake in the company because he believes in the product and wants to make sure that youth athletes have the same high-level safety equipment that NFL players have.
“They’ve [XTech] gone on to really dominate the NFL and the college market from the shoulder pad standpoint, and I want to help continue that journey as they explore into high school and expanding this business,” Manning told CNBC in an interview.
Manning did not announce the size of his stake, but he’s one of the top five investors in the company, XTech told CNBC.
Manning said he doesn’t just want to be a silent partner. He plans to help XTech as a spokesperson, by making introductions and by helping with big-picture corporate strategy.
Since his retirement in 2020, Manning has turned to investing in sports through his private equity firm Brand Velocity Group and through private investments. He is also a minority owner in the National Women’s Soccer League’s Gotham FC and TGL’s New York Golf Club.

XTech team from left to right: Jack Mara, Bob Broderick, Eli Manning, Joe Iovino.
XTECH | William Hauser

New York Giants beginnings

XTech dominates the college and professional football market. Founder Bob Broderick said that nearly 90% of NFL players have opted to wear the company’s custom-fitted shoulder pads that retail for about $599 each.
XTech, founded in 2012, has New York Giants roots.
Broderick got his start in the space as a Giants equipment assistant. It was there he learned the ins and outs of the gear business. Later, as he worked his way up to the Giants communications department, he watched as the focus on equipment moved toward helmets as awareness about the effects of concussions spread.
“All of the major manufacturers and players out there were focused on helmets — from the neck down, was kind of forgotten about,” Broderick said.
He was later introduced to equipment designer Ted Monica, who he calls “the Steve Jobs of shoulder pads.” Together, they sought to build a business.
Monica, whose background included another top equipment maker Riddell, designed a shoulder pad unit that XTech says is safer, lighter and allows more mobility. He also tried to design a sleeker and more attractive look than traditional shoulder pads.
With early backing from Super Bowl champion head coach Brian Billick, formerly of the Baltimore Ravens, the XTech team traveled locker rooms around the NFL and began fitting more and more players. That included Manning and current players Josh Allen of the Buffalo Bills, Josh Jacobs of the Green Bay Packers and Fred Warner of the San Francisco 49ers.
Today, XTech is in all 32 NFL locker rooms.
“I felt with with these pads, I was getting the protection I needed, but also found with XTech, I had more mobility in my arm, where it didn’t feel any different throwing with pads to without pads,” Manning said.

Expanding into high school sports

While the NFL has strict rules on what kind of helmets NFL players can wear, shoulder pads are left to the players and teams to choose. The teams pick up the cost of the shoulder pad unit for their players. XTech has a team of 5 salespeople who travel around the country personally fitting 40,000 athletes.
XTech says its shoulder pads are 100% American made, with manufacturing taking place in East Hanover, New Jersey. The company said this allows for quicker manufacturing and shorter turnaround times with online orders going out in one day. Competitors Douglas and Riddell can take from 4-8 weeks to process and ship.
Broderick said the company has sold about 100,000 shoulder pads units since its founding. XTech products are only available on the company’s website and Amazon. They are not found in big-box retailers.
XTech is now looking to break further into the youth sports market with a new youth-specific product it has in production, expected to launch next year. The youth line will be for players weighing 30-150 pounds and is expected to be priced in the low $200 range.
“90% of the overall market out there is high school and youth,” said Broderick.
He said XTech currently works with about 500 high schools, but there are more than 15,000 high schools that play football, representing a major market opportunity.
Manning said when he was in high school, he showed up for practice on the first day and was given a pair of used shoulder pads and a helmet and didn’t question it.
“Now, parents are more involved. They want to get their kids in the best stuff and the pads that are going to keep them safe and protect them and help them perform at a higher level,” he said. More