Foot Locker ’s future headquarters in St. Petersburg, Fla. is no more.

In a memo by St. Petersburg city development administrator James Corbett, which was seen by FN, the retailer has “reevaluated” its corporate strategy following its $2.4 billion acquisition by Dick’s Sporting Goods in September. “[ Foot Locker ] has decided not to move forward with relocating its global headquarters to St. Petersburg,” Corbett wrote.

In the memo, Corbett said that the city council approved a resolution last year that authorized up to $475,000 in financial incentives to support Foot Locker in relocating its global headquarters to the Florida town.

The package included a $235,000 base incentive and up to $240,000 in hiring incentives, contingent upon Foot Locker meeting specified conditions relat

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