New Balance announced that it is withdrawing its $1M
bonus to any American breaking the national record in a U.S.
marathon. The offer ends after this year, but New Balance
said it will "continue our commitment to running by helping
youth develop for the future" (BOSTON GLOBE, 9/25)....AD AGE
reports that CBS has "fired" four longtime sales execs "in a
major shakeup," including VP/Dir of Sports Sales John
Brooks. Replacing Brooks will be Scott McGraw, who will
oversee sports sales (AD AGE, 9/25)....The Yankees retained
Marquee Alphabet City to produce the club's 30-second TV
spot promoting the team's new Web site, www.yankees.com.
The spot is currently airing on WPIX-TV, MSG Network and in
Yankee Stadium (The Marquee Group)....The FINANCIAL TIMES'
Patrick Harverson highlights the recent consolidation in the
sports management segment in Europe, including The Marquee
Group's acquisition of two U.K.-based companies. Among
other mergers and acquisitions include Continental Sports
Management, which acquired UK-based Sporting Circles for
$840,000; CA-based ICM which has acquired U.K.-based soccer
agency All-Star; and insurance brokers Benfield, which has
set up a sports management business (FINANCIAL TIMES, 9/25).
CORRECTION: Visa was the title sponsor of the '98 Visa
Corporate Golf Championship, the Forbes Magazine and
Executive Sports Int'l event, which marked Visa Corporate
Card's first golf sponsorship venture (THE DAILY).
