Dick’s Sporting Goods Reportedly Nearing $2.3 Billion Deal to Acquire Foot Locker

According to the Wall Street Journal, Dick’s Sporting Goods is in advanced talks to acquire Foot Locker in a deal valued at approximately $2.3 billion. If completed, the move would unite two of the most prominent players in American sports retail, signaling a major shift in the industry’s competitive landscape.

Both companies have been exploring ways to adapt to a rapidly changing retail environment, with Dick’s focusing heavily on expanding its in-house brands and experiential store formats, while Foot Locker has been recalibrating its strategy following key supplier shifts — most notably its evolving relationship with Nike.

The deal would mark a strategic opportunity for Dick’s to bolster its market share in athletic footwear and urban retail locations, while potentially leveraging Foot Locker’s brand recognition and international presence.

The acquisition is not yet finalized, and terms could still change. Both companies have yet to issue official statements.

Stay tuned to our official X further updates as the story develops.