Related Party Transactions

12 Months Ended

Dec. 31, 2020

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, 2020 and December 31, 2019, the Company recognized the following royalty revenue amounts:

	For the Twelve Months Ended December 31,
Joint Venture Partner	2020		2019
M.G.S. Sports Trading Limited		400		440
Pac Brands USA, Inc.		329		363
Albion Equity Partners LLC / GL Damek		2,412		2,350
Li Ning		617		—
MHMC ⁽¹⁾		—		7
Sports Direct International plc		1,829		1,188
	$	5,587	$	4,348

⁽¹⁾	As detailed in Note 4, as of July 2019, MHMC is no longer a related party.