Friday, February 22, 2008

NIKE Sells off Bauer Hockey

Big News from Nikebiz

On Feb 21 Nike announced that it has reached a definitive agreement to sell its Bauer Hockey subsidiary to an investor group led by Kohlberg & Company and Canadian businessman W. Graeme Roustan for $200 million in cash.

Nike originally paid $430 million for Bauer. Ouch.

"We're pleased to have reached an agreement for Bauer with strategic buyers who have a passion for hockey and are committed to continue to invest in Bauer's long-term growth and brand leadership," said Nike, Inc. President and CEO Mark Parker. "Nike Bauer Hockey has been part of the Nike family for 12 years, and its team has done an incredible job. Selling this great hockey company was a tough decision but one that was in the best interests of Nike and Bauer as we each look to maximize our respective growth opportunities."

Under the terms of the deal, Bauer will continue to use the Nike Bauer Hockey trademark on existing products for a period of up to two years.

Sunday, February 10, 2008

Thermablades Receive Bad Reviews

Gretzky's blades a dud.

NHL union balks at endorsing $400 Thermablades after receiving bad reviews from 4 of 5 athletes.

Of the five players who were sent the heated blades – Toronto's Mark Bell, Chicago's Martin Lapointe, Detroit's Kris Draper, Edmonton's Marty Reasoner and Calgary's Matthew Lombardi – Reasoner is the only player who professed liking the blades.

While Therma Blade received approvals for its blades from the NHL, Hockey Canada and USA Hockey months ago, the poor reviews from Draper and Lapointe have prompted the NHLPA to balk at signing off on the fledgling product.

And without the approval of the players' union, the heated blades, which are attached to boots of existing skates, would no longer be able to be used in NHL games, which would be a key marketing tool for the Quebec company.

Sam McCoubrey, Therma Blade's VP of sales and marketing, said they have sold 2,500 pairs of blades to Canadian and U.S. stores. He also said the company would try to persuade other NHLers to test the blades.

5 years and 5 million dollars in R&D?