UK Ticket Prices Soar For Home Finale Mariners Closing Venezuelan Academy Marquette Will Not Help Pay For Arena Raiders Sign One-Year Stadium Lease Names In The News Jeanie Buss Puts Organization On Notice "PBC" Looks To Impress In Saturday's Debut CBA Seen As Small Win For MLS Players NBC Not Setting Ad Rates For "PBC" Devils Celebrating '95 Stanley Cup Team
After years of "struggling to revive" L.A. Gear Inc., Trefoil Capital Investors L.P., one of Roy Disney's investment vehicles, has sold its 42% controlling interest in the company to CA-based PCH Investments, according to Kathryn Kranhold of the WALL STREET JOURNAL. Trefoil reportedly took "a substantial loss" on the deal, and that it's unclear whether Trefiol "even received the market value for the shareholding." Former L.A. Gear Chair Stanley Gold: "We've lost a substantial amount of money." Gold, and six of eight directors, "will resign immediately," and 36-year- old David Gatto, who joined L.A. Gear as CAO in June, will become Chair & CEO. Through the first six months of the year, L.A. Gear reported a net loss of $9.6M, or $.61 a share, on revenue of $63M (WALL STREET JOURNAL, 10/14).