Famed sports magazine Sports Illustrated, known for its iconic cover pages, may be shutting down if media company and Sports Illustrated owner Arena Group doesn’t pay its $3.75 million quarterly licensing agreement to the brand management company Authentic Brands Group by April 4, 2024. 

Since its initial issue in August of 1954, Sports Illustrated has remained one of the most popular magazines in the United States, winning the National Magazine Award for General Excellence in 1989 and 1990. Sports Illustrated is also renowned for its annual Sports Illustrated swimsuit issue, with the first issue being published in 1964. Some of the greatest athletes ever, such as Los Angeles Lakers star Lebron James and former Tampa Bay Buccaneers QB Tom Brady, have been featured on the famed Sports Illustrated cover page multiple times. The most recognizable Sports Illustrated cover pages include the best championship teams of all time across many sports. 

One example is the March 3, 1980 issue, featuring the 1980 United States Olympic Men’s Hockey Team defeating the 1980 Soviet Union’s Olympic men’s hockey team in the game dubbed “The Miracle on Ice.” The July 19, 1999 issue featured United States Women’s National Team defender Brandi Chastain take off her shirt after defeating China’s Women’s National Team in a penalty shootout. If the licensing issue goes unresolved,  Sports Illustrated could become another example of the decline of magazines with many blaming online journalism for the decline in what was once a staple in American media. 

As of January 25, Arena Group and Authentic Brands Group have not come to an agreement, and many Sports Illustrated employees may be laid off after receiving a 90-day notice from Arena Group. The Sports Illustrated Guild shared on X (formerly Twitter), “We have fought together as a union to maintain the standard of this storied publication that we love, and to make sure our workers are treated fairly for the value they bring to this company. It is a fight we will continue.”