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Play by Play: VFC (NYSE: VFC) Adds Support for Employees and Announces Enterprise Protection Strategies, Torque Esports (TSXV: GAME) Taps Into Global Audience with Blake Broadcasting Agreement

Olympic Flame Removed from Display, Qualifying Athletes for Tokyo 2020 to Keep Spot in Rescheduled 2021 Games

Play by Play - the latest sports headlines and sports stock news

 

Point Roberts, WA and Delta, BC - April 8, 2020 (Investorideas.com Newswire) Investorideas.com, a leader in investor news and research issues today's edition of Play by Play covering what's new in sports headlines and recent news from publicly traded companies in the sector.

Stocks discussed: (NYSE:VFC) (TSXV:GAME)

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Play by Play: VFC (NYSE: $VFC) Adds Support for Employees and Announces Enterprise Protection Strategies, Torque Esports (TSXV: $GAME.V) Taps Into Global Audience with Blake Broadcasting Agreement

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Apparel giant V.F. Corporation (NYSE:VFC) has announced additional employee support and enterprise protection strategies amid the COVID-19 pandemic. This includes a 50 percent reduction in CEO Steve Rendle's base salary, a 25 percent reduction in the Executive Leadership Team's salary and the assurance that retail employees will receive full pay and benefits while retail locations remain closed until May 3. Company CEO Steve Rendle said:

"Throughout VF's storied 120-year history, we've weathered many storms, and each time we've emerged as a stronger company with a renewed sense of focus and determination. The full breadth of actions we're taking in response to the COVID-19 situation are intended to not only address the challenges of today, but also to position our brands and businesses to thrive in the years ahead as we build on VF's proud legacy."

Torque Esports Corp. (TSXV:GAME), and its tournament organizing arm UMG Media Ltd., have made a programming syndication agreement with Blake Broadcasting, giving them a potential global audience. According to the press release, "UMG's range of live-streamed esports competitions and series will now be shown globally on Blake networks across North America, Europe, and the Asia-Pacific region." Blake Broadcasting CEO Bob Blake explained:

"The live content pipeline, especially in sports, all but dried up overnight. Torque & UMG Gaming already had a strong portfolio of competitive gaming content, from virtual motorsports to traditional series and remote competitions. The quality of Torque's programming and deep experience and history made the decision easy."

Olympic Flame Removed from Display, Qualifying Athletes for Tokyo 2020 to Keep Spot in Rescheduled 2021 Games

The Olympic flame has been removed from display, according to a report from the Associated Press. Originally intended to remain on display through April, the flame was taken down as part of the Japanese government's effort to limit large gatherings so as to combat the spread of COVID-19. Organizers told the publication:

"Tokyo 2020 will now keep the flame in an undisclosed location to prevent people from gathering."

Elsewhere the AP reports that the roughly 6,500 athletes who qualified for the 2020 Olympics in Tokyo will get to keep their spots for the rescheduled games in 2021. This comes from an announcement by the International Olympic Committee (IOC), which affirmed that "athlete health is the guiding principle in the scheduling of any remaining Olympic qualification events."

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