Foot Locker will no longer relocate its corporate headquarters to St. Petersburg following its $2.4 billion acquisition by Dick’s Sporting Goods, according to a memo sent to city council members Wednesday.

The company informed the city it had “reevaluated its corporate strategy and decided not to move forward with relocating its global headquarters” after the sale to the Pittsburgh-based retailer, wrote James Corbett, St. Petersburg’s development administrator.

Foot Locker had initially planned to move its headquarters from New York City to Carillon Business Park on Carillon Parkway, with the move approved in late 2024 and expected to be completed by the end of this year. In 2024, the city approved an incentive package of up to $475,000 for the relocation, and Foot Locker had committed to investing at least $20 million in its new headquarters and creating 150 new jobs with an average annual salary of $120,000.

The nearly $500,000 in incentives promised to Foot Locker “will remain unexpended and available for future qualified projects,” and there is no fiscal impact to the city, Corbett stated.

As part of the Dick’s Sporting Goods acquisition, former Foot Locker CEO Mary Dillon—who had championed the St. Petersburg move—was not retained, and Dick’s Executive Chairman Ed Stack was named to head Foot Locker’s global operations.

Dick’s Sporting Goods has not responded to a request for comment.

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