Orlando City Unveils New Stadium Design BBVA Bancomer Stadium Opens NFL, Union Ask For Expedited Court Schedule DraftKings Expands MLB Partnerships NHL Looking At '22 Beijing Games NBA Hosting African Game Berman, Dilfer To Call "MNF" Game Chung Mong-Joon Launches Bid For FIFA Presidency Turnkey Survey Shows Importance Of Internships NBC, ESPN, Fox Expected To Bid On EPL
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).