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Volume 24 No. 117

Finance

          Salomon S.A. of Annecy has sold "controlling interest"
     to adidas, which makes adidas the corporate parent of Taylor
     Made Golf, according to the SAN DIEGO UNION-TRIBUNE. 
     Salomon, which makes ski equipment and bicycle components
     "among other things," has owned Taylor Made since 1984. The
     "rumored transaction price" for the deal was $1.5B, although
     that number was "not confirmed."  Taylor Made Senior
     Marketing Manager Brian Fortini: "We are excited about it.
     It brings resources to us that permit us to pursue a number
     of strategic growth initiatives" (UNION-TRIBUNE, 9/16). 

          Rawlings Sporting Goods Co. closed its acquisition of
     USA Skate Co., the hockey subsidiary of California Pro
     Sports Inc., for $14.5M, and will assume liabilities
     totaling $2.3M (WALL STREET JOURNAL, 9/15)....Oakley Inc.
     CEO Jim Jannard advised the company he intends to purchase
     up to an additional one million shares of Oakley stock
     (Oakley)....RDV Sports is looking for a buyer for both its
     screen printing/embroidery and team sales divisions (ORLANDO
     BUSINESS JOURNAL, 9/15 issue).

          In BUSINESS WEEK's "Personal Business" section, Dennis     Berman examines the procuring of pro sports teams, and     writes, "all told, nearly 60 smaller leagues operate in     traditional sports such as baseball and hockey, and in     growing niches including bicycling and roller hockey."      While "few teams clear an annual profit ... that doesn't     mean ownership is always a financial dead end."  Teams in a     "popular league" will usually appreciate in value, even if     they're not "profitable."  BUSINESS WEEK lists the average     price and operating cost of franchises in the CBA, National     Lacrosse League (NLL), Professional Bicycle League (PBL) and     the Roller Hockey League (RHL) (BUSINESS WEEK, 9/22).      
LEAGUE AVG. NEW TEAM PRICE AVG. ANNUAL OPERATING COST
CBA
$1M
$1.7M
NLL
$250,000
$700,000
PBL
$50,000
$100,000
RHI
$500,000
$700,000