(December 22 – 10:45 ET) – Winnipeg’s Assante Corporation is buying another sports managment
agency. Eugene Parker & Associates Inc., based in Indianna, operates as Maximum SportsManagement and acts as agent for several NFL and NBA players.
“The addition of Maximum will provide immeasurable strength to our new Assante Sports Management Group subsidiary, and we are delighted to have Eugene Parker and Roosevelt Barnes join the Assante team,” says Martin Weinberg, president and CEO, Assante Corp.
Assante will acquire all of the shares of Maximum for an undisclosed quantity of cash, plus an earnout of up to US$13.5 million in cash and shares. There is also a US$18.5 million bonus to be paid in special shares. The earnout will be escrowed and released as Maximum attains certain financial targets over the five years following closing. The bonus will be
escrowed and released only if additional financial targets are attained in the fifth and sixth years following closing.
-IE Staff