Talks Underway To End Ecclestone Trial Puma's Q2 Beats Expectations Grizzlies Make Chris Wallace GM Twins Testing New CRedit Card App Oyo To Create Little League Figures Falcons, Comcast Renew Deal NCAA Settles Concussion Lawsuit Michele Roberts Elected NBPA Exec Dir Bucks Name McDonough CFO AECOM Formally Acquires Hunt Construction Group
Salomon S.A. of Annecy has sold "controlling interest" to adidas, which makes adidas the corporate parent of Taylor Made Golf, according to the SAN DIEGO UNION-TRIBUNE. Salomon, which makes ski equipment and bicycle components "among other things," has owned Taylor Made since 1984. The "rumored transaction price" for the deal was $1.5B, although that number was "not confirmed." Taylor Made Senior Marketing Manager Brian Fortini: "We are excited about it. It brings resources to us that permit us to pursue a number of strategic growth initiatives" (UNION-TRIBUNE, 9/16).
Rawlings Sporting Goods Co. closed its acquisition of USA Skate Co., the hockey subsidiary of California Pro Sports Inc., for $14.5M, and will assume liabilities totaling $2.3M (WALL STREET JOURNAL, 9/15)....Oakley Inc. CEO Jim Jannard advised the company he intends to purchase up to an additional one million shares of Oakley stock (Oakley)....RDV Sports is looking for a buyer for both its screen printing/embroidery and team sales divisions (ORLANDO BUSINESS JOURNAL, 9/15 issue).
In BUSINESS WEEK's "Personal Business" section, Dennis Berman examines the procuring of pro sports teams, and writes, "all told, nearly 60 smaller leagues operate in traditional sports such as baseball and hockey, and in growing niches including bicycling and roller hockey." While "few teams clear an annual profit ... that doesn't mean ownership is always a financial dead end." Teams in a "popular league" will usually appreciate in value, even if they're not "profitable." BUSINESS WEEK lists the average price and operating cost of franchises in the CBA, National Lacrosse League (NLL), Professional Bicycle League (PBL) and the Roller Hockey League (RHL) (BUSINESS WEEK, 9/22).LEAGUE AVG. NEW TEAM PRICE AVG. ANNUAL OPERATING COST
CBA$1M$1.7M NLL$250,000$700,000 PBL$50,000$100,000 RHI$500,000$700,000