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Nike and Canstar Sports Inc. announced yesterday that they have entered into a Business Combination Agreement, and Nike has commenced its tender offer, effective January 6, to acquire all of the outstanding shares of Canstar at the Canadian share price of $27.50 per share (Nike/Canstar).... Mechanicsville, VA -based Fast Mart Convenience Stores will sponsor two major dates on the '95 Richmond Int'l Raceway NASCAR calendar. "Fast Mart Pole Day" on March 3 will determine the top 20 starters for the following weekend's Hardee's Frisco NASCAR Busch Series and Pontiac Excitement 400 NASCAR Winston Cup Series race. Fast Mart SuperTruck Shootout will kick off three nights of NASCAR racing On September 7 (NASCAR NEWS, 1/4 issue)....Walke Communications is currently surveying major sports advertisers on their feelings about getting their money's worth in today's sports market. Among questions asked: If labor problems have had an effect on their products or ability to market their products. Walke will release their report at the Western Sports Forum in Colorado Springs on March 15 (THE DAILY). ....Standard & Poor's Ratings Group placed ITT Corp. commercial paper on CreditWatch with negative implications, citing concerns about ITT's recent restructuring moves (WALL STREET JOURNAL, 1/10)....While The Sports Authority's stock has "taken a beating" in the last month, many analysts say the long-term outlook is a "winner for the nation's largest chain of sports superstores" (Ellen Neuborne, USA TODAY, 1/10).... Astros Senior VP/Business Operations Bob McClaren, on the general off-season reaction from sponsors: "The comment we keep hearing is, 'We're with you. We want to do something with you, but we're just a little concerned about when and if this thing is going to start on time. We're a little worried about who the players are going to be. If you can get this labor issue resolved, we'll be there.'" As for Astros sponsors, Coca-Cola and Randall's Markets, have yet to resign (Neil Hohlfeld, HOUSTON CHRONICLE, 1/8).
Jim Kahler, head of marketing and sales for the Cavaliers, "knows exactly how the fans and national media feel about the new uniforms the Cavs are wearing this season": "I know some people hate them. But I also understand people are resistant to change. It's human nature." Kahler, however, is "preaching patience." Because even if the team decided to change their logo and color scheme, they would have to wait until the '96-97 season. The NBA requires a 2-year lead time for uniform and color alterations (Bart Hubbach, THE SPORTING NEWS, 1/9 issue).
Reebok Int'l and NFLP have signed a multi-year deal in which Reebok has been designated a Pro Line licensee for the U.S. and all int'l markets. As a Pro Line licensee, Reebok has the right to produce and market a complete range of sideline apparel, including outerwear, hats and related apparel bearing the logos of all 30 NFL teams. The coaching staffs and players of the 49ers, Lions, Seahawks and Saints will wear Reebok sideline apparel exclusively beginning next season. In addition, Reebok will produce the home and away uniforms for the Lions. Roberto Muller, Exec VP for Global Product Marketing for Reebok: "This global alliance with the NFL Properties, which includes sponsorship of the World League of American Football in Europe, is a significant opportunity for Reebok to advance our performance technologies and enhance our visibility as an authentic, performance sports brand." Reebok will support the introduction of its NFL Pro Line collection through advertising and regional promotional programs (Reebok). Analysts say that in landing the license, Reebok "aced out such rivals as Nike," which has also been looking to gain more exposure from football (BOSTON HERALD, 1/10).