In another blow to the world of sports journalism, the future of Sports Illustrated hangs in the balance as the publisher of the iconic magazine and website, Authentic Brands Group (ABG), axes a substantial portion, if not all, of its guild-represented staff. The distressing news was shared in a memo sent to the employees, revealing that the layoffs primarily target those working on the Sports Illustrated brand.

This unsettling development follows ABG's decision to revoke the publishing rights that were previously sold to Arena Group, owing to a missed payment. ABG has held ownership of Sports Illustrated since 2019, but the magazine and website's fate remains uncertain amidst these tumultuous circumstances.

Expressing their disappointment, the union representing the affected employees released a statement, referring to this as yet another challenging day in a series of difficult years under the stewardship of Arena Group, previously known as The Maven. The union called upon ABG to guarantee the continuation of Sports Illustrated's publication, allowing it to serve its audience in the same manner it has for nearly seven decades.

At the time of reporting, Arena Group and Manoj Bhargava, the majority stakeholder in Arena Group and the founder of 5-Hour Energy, have not responded to requests for comment.

The union further emphasized the importance of upholding their contract with Arena Group, urging fair treatment for all employees. Mitch Goldich, the NFL editor and unit chair, affirmed their commitment to fight for the cherished publication and the fair treatment of its workers.

Sports Illustrated has endured a challenging few months, with its CEO Ross Levinsohn being ousted in December due to a scandal involving the publication of articles with fake authors and AI-generated profile photos. With immediate effect, Manoj Bhargava assumed the role of interim chief executive, adding a layer of uncertainty to the magazine's future.

As the revered name in sports journalism faces mounting obstacles, the industry waits anxiously to see what lies ahead and whether Sports Illustrated can navigate these turbulent waters to regain its former glory.