Jason Day's win at the PGA Championship offers a "much-needed boost for Adidas’ golf business at a time when the company is considering a partial or complete sale of its TaylorMade unit," according to Matthew Rocco of FOX BUSINESS. adidas earlier this month "said it has hired an investment bank to find a buyer for its Adams and Ashworth brands." The apparel company "left the door open to possibly selling the entire golf division" (FOXBUSINESS.com, 8/17). Fortune's Dan Roberts said with sales of adidas' golf brands "down across the board," it is "not the time to give a big golfer more money to be their marquee name." adidas likely instead will "keep their small portfolio." Roberts; "They’ve got Dustin Johnson, Sergio Garcia and Jason Day. ... They happen to have a horse who won this one, and that was big. But I don’t think you’re going to see them step up and try to offer him more money or offer him a big extension when they’re thinking about selling off the business" ("Morning Drive," Golf Channel, 8/17).
ADS OF THE DAY: Several of Day's sponsors today took out ads in national newspapers to celebrate his win in the PGA Championship. Concur runs full-page ads in both USA Today and the N.Y. Times with the header, "A True Major Champion." Zurich Insurance goes full-page in USA Today -- "Congratulations To Our Ambassador" -- while Rolex offers full-page treatment in the N.Y. Times under the header, "Triumphant!" NetJets runs a quarter-page ad in the N.Y. Times that reads, "Congratulations, Jason, On Your First Major Championship" (THE DAILY).
