Kukla's Korner Hockey
by Paul on 10/09/07 at 07:30 AM ET
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.
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About Kukla's Korner Hockey
Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.
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