Minute Media Closes On $15M Investment Round ESPN Still Hurting Disney Quarterly Results Under Armour's Kevin Plank Defends Company MLB Postseason Boosts 21st Century Fox' Q2 Callaway Golf Posts Solid Financials Under Armour Posts Tepid Forecast For '17 No Bidders For Bauer Hockey's Parent Co. ISC Revenues Up For '16, Admissions Down StubHub Q4 Results Show 20% Jump From '15 Sports Owners Investing In Tech Startups
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).