Related Party Transactions

12 Months Ended

Dec. 31, 2019

12. Related Party Transactions

The Company has entered into certain license agreements in which the core licensee is also one of our joint venture partners. In the case of Sports Direct International plc (“Sports Direct”), the Company maintains license agreements with Sports Direct, but in addition, during FY 2018, the Company entered into a cooperation agreement with Sports Direct that allowed Sports Direct to appoint two members to the Company’s Board of Directors. The cooperation agreement expired pursuant to its terms during the first quarter of 2019. As of December 31, 2019 and December 31, 2018, the Company recognized the following royalty revenue amounts:

	FY 2019		FY 2018
Joint Venture Partner
Global Brands Group Asia Limited ⁽¹⁾	$	—	$	19,544
MHMC ⁽²⁾		7		2,927
Albion Equity Partners LLC / GL Damek		2,350		2,644
Rise Partners, LLC / Top On International Group Limited		—		977
Sports Direct International plc		1,188		915
Anthony L&S		—		623
M.G.S. Sports Trading Limited		440		610
Pac Brands USA, Inc.		363		246
	$	4,348	$	28,486

⁽¹⁾

Prior to 2019, Global Brand Group Asia Limited maintained the Buffalo and Zoo York license agreements. However, in October 2018, Centric Brands Inc. acquired a significant portion of Global Brands Group Asia Limited’s North American licensing business. The Company’s license agreement for the Buffalo and Zoo York brands in the United States are now maintained with Centric Brands Inc. which is not a related party or affiliated entity to the Company.

⁽²⁾	As detailed in Note 4, as of July 2019, MHMC is no longer a related party.