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SBD/5/Sports Industrialists
WALL STREET JOURNAL EXAMINES THE STORY OF PROSERV
Published September 5, 1997
ProServ and its CEO DONALD DELL are profiled by John
Helyar on the front page of the WALL STREET JOURNAL. The
company "that made IVAN LENDL a mint and MICHAEL JORDAN a
brand, the company whose negotiators once made TV networks
and sports teams tremble is itself now shaky. It has lost
dramatic position in its core sport; it has lost dramatic
numbers of key people; and now it has lost independence,"
after being acquired by The Marquee Group for "a mere" $10M
plus stock. Helyar writes that while CEO Dell "drove a hard
bargain on behalf of his clients ... those same qualities
drove away aides in droves. Detractors say he built less of
a strong business foundation in ProServ than a monument to
himself. The man who pioneered the art of the sports deal
in the 1970s and rode its tidal wave to riches, critics
charge, never mastered the changed realities of the '90s."
Dell: "The industry is consolidating. The top companies
want to compete globally, and that takes a lot of capital.
Marquee presented an opportunity to get that overnight: Take
away my own personal risk but keep everything else in place.
I'll still be CEO and Chairman ... I feel pretty good about
that" (WALL STREET JOURNAL, 9/5).




