Asics America Enjoys Strong '14 Adidas Aims To Grow Profits By 15% Annually Norman's Company Opens Investment Arm Wilson Purchases Louisville Slugger FIFA Makes Record Revenue Of $2B TLA Worldwide Acquires Elite Sports Properties Mobile Fantasy Company Closes VC Funding Discovery, Liberty Get Formula E Stake SMI's Admission Revenue Down 5% in '14 Adidas Expects "Robust" Sales Growth
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Published February 27, 1998
FORBES' Peter Spiegel examines consolidation in the sports marketing business and writes that "small two- or three-lawyer shops" are an "endangered species." Spiegel: "Pushing the consolidations is the increasing role of corporate sponsorship. ... The big sports agencies offer their services to corporate clients looking to get themselves noticed by sports fans" (FORBES, 3/9 issue). NOTES: NSSN's Steve Mayer goes inside CART's planned IPO and reports "top" execs have been "granted substantial stock options." Among them: CART CEO Andrew Craig (600,000 shares), CFO Randy Dzierzawksi (300,000 shares), VP/ Logistics Dennis Swan (20,000) and VP/Competition Kirk Russell (40,000). At an offering of $15 a share, Craig has the option to purchase $9M of CART shares (NSSN, 2/25). ...TCI's TCI Gameco Holdings unit sold its 4.3 million-share stake in Acclaim Entertainment (WALL STREET JOURNAL, 2/27).