Sports Illustrated publisher threatens to kill print edition in battle to regain license: sources

Sports Illustrated’s erstwhile publisher on Thursday threatened to kill the print edition of the famed magazine after reports surfaced that the company that owns the license is leaning toward awarding it to a rival, The Post has learned.

The Arena Group, which had its license revoked in January by Authentic Brands after refusing to make a $3.75 million quarterly payment, held a meeting to tell the already shaken staff that the May issue would be its last, multiple sources told The Post.

The move comes as Manoj Bhargava, the 5-hour Energy founder and Arena’s largest shareholder, seeks to renegotiate the three years left on the original 10-year, $150 million deal with Authentic owner Jamie Salter.

Arena, which had warned that it will fire SI’s entire staff if it doesn’t regain the license, is on the hook for a $45 million termination fee.

“This is Manoj saying if you are not giving it to us, we are going to screw you,” a source close to the situation said. “I think Manoj may know they are not getting the license.”

Bhargava’s saber-rattling about ceasing publication of a magazine that has been on newsstands for 70 years didn’t seem to faze Salter.