SportsYA! raises $10 million, cuts work force

Miami sports portal SportsYA! Inc. said Tuesday it has raised a $10 million round of funding and has also reduced its staff by one-fourth, leaving 150 employees. The move is part of the company's cost-cutting strategy. In June, the company announced it acquired Element 7, an e-commerce site for sporting equipment and apparel. The investment announced Tuesday came from IMG/Chase Sports Capital, Chase Capital Partners, Flatiron Partners and Ventech LLC. -- WSJ Interactive Edition