New Era, which makes caps affiliated with the National Football League, Major League Baseball and National Basketball Association and counts the leagues among its minority stakeholders, has begun preparations for an initial public offering ,or IPO, that could value it at $4B-$5B, people familiar with the matter told Reuters’ Abigail Summerville, Echo Wang and Anirban Sen. The company, which is controlled by its founding family, aims to go public in 2024, the report said. Publicly traded sports apparel makers and retailers include Nike (NKE), Under Armour (UAA), Dick’s Sporting Goods (DKS) and Foot Locker (FL).
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