Rant Sports Parent Closes $3M Round Of VC KKR Withdraws IMG Bid Bornstein, Shapiro Advising Competing Bids For IMG CAA Out Of Hunt For IMG Disney Reports Higher Q4 Earnings Second Round Of Bids For IMG Were Due Thursday Adidas' Q3 Operating Profit, Sales Drop 21st Century Fox Revenues Exceed Forecasts SMI Sees Ticket Sales Decrease In Q3 Chime Communications Buys JMI For $76M
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).