SBD/18/Finance

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  • FINANCE NOTES

              SportsLine USA made its second initial public offering
         filing with the SEC.  An IPO date will be set after the SEC
         replies to this second filing, and after SportsLine "answers
         its questions satisfactorily" (AD AGE, 9/18)....Shares of
         Skis Rossignol S.A. rose yesterday on speculation it might
         be a "takeover target."  Analysts said Nike "might be
         prompted" to bid for Rossignol, after adidas's $1.35B
         purchase of Salomon (N.Y. TIMES, 9/18). 
    
    

    Print | Tags: Finance, Nike, Washington Nationals
  • FLEET LOOKS FOR BOTTOM LINE IN ATTEMPT TO CHANGE IMAGE

              The Fleet Financial Group's attempt to "change its
         image from a rah-rah civic booster to more of a bottom-line-
         oriented group," examined by Tina Cassidy of the BOSTON
         GLOBE.  Fleet yesterday finalized a $185M loan to the
         Ravens, which company spokesperson James Mahoney said is
         "being viewed around the league as breaking new ground in
         terms of financing because of the structure, because of the
         level of debt.  The more sophisticated debt structure allows
         for a higher level of debt."  Cassidy adds that the Ravens'
         deal "some say, was meant to put the industry on notice that
         Fleet's sports lending division is not retreating in the
         wake" of the John Spano incident.  In a related note,
         Celtics CFO Richard Pond discussed the team's decision to
         "shop for another bank" and sever ties with Fleet.  Pond:
         "They weren't being as proactive as we wanted them to be.  I
         think a big part of a relationship is feeling like you're
         really wanted.  Much like a personal relationship would be. 
         I think also, in their defense, they were going through a
         period internally where they didn't know who was going to be
         leading the charge."  Fleet execs say the team's decision
         "has nothing to do" with the resignation of David Splaine,
         former head of its sports lending division, "and everything
         to do with money" (BOSTON GLOBE, 9/17).
    
    

    Print | Tags: Baltimore Ravens, Boston Celtics, Finance, Fleet Financial
  • GOLDEN BEAR TO SELL EXECUTIVE SPORTS TO NICKLAUS CUB

              FL-based Executive Sports Vice Chair & COO Steve
         Nicklaus, the son of Jack Nicklaus, and FL-based Muirfield
         Village Golf Club VP John Hines announced plans to buy
         Executive Sports, the sports marketing and management
         division of Golden Bear International.  The two companies,
         which have reached a tentative agreement, will continue to
         be closely affiliated as separate entities of GBI (GBI).
    
    

    Print | Tags: Finance
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