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

In a seismic shake-up for sneaker retail, Dick’s Sporting Goods is set to acquire in a multi-billion dollar deal that could reshape the future of athletic footwear and streetwear retail in the United States.

According to multiple reports, the agreement – valued at approximately $2.3 billion – will bring together two of the biggest names in the sportswear game. While still pending regulatory approval, the acquisition has already sent Foot Locker’s stock soaring more than 60 per cent in after-hours trading, reflecting strong investor confidence.

For Foot Locker, which has struggled in recent years amid store closures and declining sales, the buyout marks a pivotal turning point. The retailer has been working to reinvent itself, building partnerships with brands like and while experimenting with new formats such as community-based concept stores and digitally integrated flagships. Under Dick’s ownership, those ambitions may now receive the financial backing they need to truly scale and modernise.

On the flip-side, Dick’s Sporting Goods – traditionally focused on a broader range of sporting gear – is making a bold leap into the sneaker and streetwear space. The move could significantly expand its appeal among younger, style-conscious consumers and bolster its position as a top-tier Nike and partner. It also gives Dick’s a more powerful presence in mall-based retail and urban markets.

With competition in sneaker retail fiercer than ever and e-commerce platforms gaining ground, this merger could signal the start of a new chapter. As always, keep it locked to Sneaker Freaker for updates.