The Michael Jordan Golf Company "should have been
another Jordan success story, but that hasn't been the
case," according to Ed Sherman of the CHICAGO TRIBUNE, who
writes a lengthy examination of the company which was formed
in November '93. Sherman: "'Air' golf has hit several
slices." Currently, Jordan Golf consists of a facility in
Aurora, IL, with another range being built in Charlotte, NC,
by AMF Bowling, which purchased the company last year. But
there "are no firm plans to build" any more. Sherman writes
that Jordan invested a total of $1M in the venture, "a
rarity" for him, and while the "original group had the
vision," insiders say it took on "lavish and unnecessary
expenditures, creating cash-flow problems for the company.
Bills were being paid late, and some vendors stopped sending
goods." AMF Bowling wanted to sign Jordan to promote its
bowling centers and company officials "readily admit they
agreed to take on Jordan Golf and its problems as part of
the price for getting Jordan as an endorser for its bowling
centers." AMF VP/Marketing Merrell Wreden: "Yes, golf got
the negotiations started. ... Can we make it profitable?
Yes, I think we can" (CHICAGO TRIBUNE, 7/14).
