Sports and outdoor equipment e-tailer MVP.com has announced it is going out of business.

MVP.com will continue trading for the time being but has confirmed plans to sell its domain name, trademarks and the rest of its business to SportsLine.com.

Directors of MVP.com include basketball great Michael Jordan and Ice Hockey legend Wayne Gretzky, though it's not clear if they will lose out financially because of the failure of the dot.com.

The main losers in the demise of MVP.com are its remaining 43 employees, who will all lose their jobs in the next few months. MVP.com began trading only a year ago and at its height employed 166 staff, but previous lay offs and office closures were not enough to save its business. ®