Sports Illustrated Sues Former Owner Over Unpaid Fees, Near Collapse

Authentic Brands Group, owner of Sports Illustrated, is suing Manoj Bhargava for failing to pay $48.75 million in licensing fees to publish the magazine.

Bhargava is the founder of 5-Hour Energy drinks who took control of Sports Illustrated's parent company, leading to lawsuits and turmoil.

Sports Illustrated is now being published by Minute Media after Bhargava's Arena Group laid off employees and threatened to discontinue the print edition.

Minute Media has rehired some of the laid off Sports Illustrated employees and pledged to keep publishing the print magazine.

The lawsuit alleges Bhargava deliberately missed payments, infringed on trademarks, and his "lawlessness" almost brought down Sports Illustrated.