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SBD/February 14, 2014/Finance
Bauer Buys Easton-Bell Baseball/Softball, As Company Continues Shedding Assets
Published February 14, 2014
NOTHING TO LOSE: In N.Y., Josh Kosman writes it appears Fenway Partners, the parent of Easton-Bell, is "going with an empty backfield as its best defense against future liabilities over concussions suffered by NFL players." Easton-Bell on Thursday also announced that it is "working toward an agreement with a third party for the sale of Easton Hockey." A source said that selling these assets means the company will "have a smaller balance sheet, with potentially fewer assets to target in pending lawsuits." There are presently "several prominent suits filed against Easton-Bell and Riddell." Another source noted that Easton-Bell will "use the proceeds largely to pay down" its $326M in debt. Sources said that Fenway is now "selling what it can in pieces." Yet another source said that there is the "possibility that plaintiffs suing Riddell in a few years, if successful, could force the remaining company into bankruptcy and have trouble collecting large awards" (N.Y. POST, 2/14).