Sources: VF Selling Sports Group To Fanatics Angels P Talks Committing Future Earnings To Fantex MJ's Son Partners With Tech Startup WaitTime Nike Posts Solid Q3 Amid Adidas Resurgence GoPro To Cut 270 Full-Time Jobs Dodgers Owner Leads $100M DraftKings Investment Adidas' CCM Hockey Brand Up For Sale Again Dick's Ed Stack Outlines Plan To Grow Market Share SMI's Total Revenue For FY '16 Up 3% Churchill Downs Inc. Net Income Of $108.1M In '16
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).