(3/21/00)
SEATTLE - The Professional Bowlers Association (PBA) board of directors announced earlier this week that the league will be sold to an investment group of entrepreneurs from the high technology industry. A trio of high-tech experts, former Microsoft Vice President Chris Peters; past president of Paul Allen's Starwave venture Mike Slade; and Rob Glaser, currently chairman and CEO of RealNetworks, have agreed to purchase the PBA and, pending member agreement, will be the sole owners of the professional sports league.
The PBA, an Ohio-based non-profit organization founded in 1958, has nearly 3,000 members and is the acknowledged "major league" of professional bowling. With little or no marketing efforts, the PBA currently realizes higher television ratings than the National Hockey League, Major League Soccer, and the Women's National Basketball League. "We see the PBA as a diamond in the rough," commented Peters. "With even a little bit of marketing and investment, we feel it can achieve dramatic growth."
The PBA is already watched by millions of people worldwide. The sport enjoys a large fan base in Japan, Korea, and Northern Europe. Ownership of the entire league provides the investment group the flexibility to create new ways of combining television and the Internet. The new owners plan to build one of the most innovative sport sites on the Internet, one that will reach out to this worldwide fan base and will use every aspect of worldwide web marketing.
The goal of the investment group is to make bowling into one of the first sports to utilize the power of the Internet and to webcast its tournaments. "Our mission going forward will be 'To Entertain the Mass Audience with the Sport of Bowling.' The Internet is probably the most exciting mass audience channel in history," offered Peters.
The new owners will create an office in Seattle that will house the marketing, sponsorship sales, and Internet efforts, while the operations currently based in Akron, will remain there indefinitely. Chris Peters will act as chairman and is actively recruiting a president to run the new business areas and day-to-day operations. Mark Gerberich, the sport's commissioner, will continue in his current position.
"During Mark's tenure as commissioner, the sport has made some tremendous changes and his history and experience with the league is invaluable," commented Peters. "His leadership was instrumental in making this acquisition happen."
"I'm very excited about the future opportunities now available to the PBA and its members," said Gerberich, who's been with the association since 1983. "We received several offers, but the board of directors and myself were overwhelmingly in favor of this one. The team of Peters, Slade and Glaser epitomizes exactly what this association needed in a partner--savvy investment entrepreneurs."
The group has agreed to purchase the National, Senior, and Regional tours, as well as the association itself including its logos, trademarks, copyrights, and website. With the acquisition, the PBA will become a for-profit LLC. The group has agreed to purchase the PBA for an undisclosed amount but has agreed to pay off all the PBA's debt in full, as well as contribute an extra $1,000,000 in prize money. The investment group has also agreed to fund the league's pension plan. The PBA will be a privately held company, and the new owners are not commenting on other details.
"We consider this a serious investment and plan to manage the association like a start up business," said Peters. "We think with the right expertise and resources behind it, the PBA will have its first real shot at success."
(2/29/00)
AKRON, Ohio -- Professional Bowlers Association (PBA) Hall of Famer Pete Weber has been suspended from PBA tournament competition effective immediately and will not be eligible to compete in PBA events for the remainder of the year.
Weber, a 37-year-old from St. Ann, Mo., received a conduct fine for "conduct unbecoming a professional" during the PBA Tour event at Bay Lanes in Bay City, Mich., last fall. Weber was already on probation when this incident occurred.
According to Article VII, Section 4, Paragraph IV, of the PBA's rulebook, "Any conduct offense while on probation will, if the Member is deemed guilty, result in suspension and a possible fine, the length and amount to be determined by the Commissioner."
PBA Tour Commissioner Mark Gerberich suspended Weber for the incident in Bay City. Weber then appealed the decision of the Commissioner as outlined in the PBA Constitution, but the decision was upheld. Weber still had the right to appeal the decision to the PBA Board of Directors, but decided to drop his right of appeal following the Bayer/Brunswick Touring Players Championship (which concluded Feb. 27) and accept his suspension.
Therefore, Weber's suspension took effect Feb. 28, 2000, and will run through Dec. 31, 2000. During this time Weber will not be eligible to compete in PBA national, regional or invitational tournaments. Following the nine-month suspension, Weber will remain on probation for a period of 18 months through June 30, 2002.
Weber, who was the 1980 PBA Rookie of the Year, trails only Walter Ray Williams Jr. on the PBA Tour's all-time earnings list with more than $2.2 million. His 25 career titles (including one this year) rank him seventh all-time. He is one victory behind his legendary father Dick Weber, Mike Aulby and Don Johnson, who are tied for fourth on the all-time list.
Weber, who was inducted in the PBA Hall of Fame in 1998 in his first year of eligibility, is one of only four players (Aulby, Billy Hardwick and Johnny Petraglia) to have completed bowling's Triple Crown (Tournament of Champions, PBA National Championship and U.S. Open). He was off to a fast start in 2000, having won the Parker Bohn III Empire State Open in Latham, N.Y., and finishing second at the recently completed Bayer/Brunswick Touring Players Championship in Akron, Ohio.
Links Updated April 27, 2000
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