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What Happened To NikeBauer
by Paul on 10/09/07 at 05:30 AM ET
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from Rick Westhead of the Toronto Star,
“I remember (Nike CEO) Phil Knight saying at the time that hockey was North America’s fourth-most culturally-significant sport,” said John Collins, a former senior executive in Nike’s hockey division. “He wanted in.”
Nike would wind up paying a frothy $395 million (U.S.) for Canstar, a 50 per cent premium above the level its shares were trading in prior months.
Industry executives now say even though a number of suitors will probably emerge for NikeBauer, it’s doubtful the division will sell for more than $150 million – less than half what Nike originally paid for it.
Filed in: Hockey Equipment | KK Hockey | Permalink
Tags: merchandise, nike,
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