CCM hockey brand sold: Terrible news for hockey players everywhere
Today a new report has confirmed that finalization of the sale of the CCM hockey brand is expected in the coming days.
Throughout hockey, there are several big companies that produce most of the equipment for hockey players worldwide. Today one of those large companies CCM is on the verge of being sold to a private investor according to hockey reporter Rick Westhead.
I'm told by people involved in the sale process the price will eclipse $570M, and be more than eight times EBITDA.
With the sale price expected to come in over $570 million this is expected to be one of the largest deals of its kind in hockey history. For context when the previous owners of CCM Birch Hill Equity Partners bought the company they only paid around $110M when buying the brand from Adidas.
With the massive price tag for the sale, Rick Westhead also believes that other major brands such as Bauer Hockey and True Hockey could consider sales in the near future.
Due to the sales Rick Westhead also mentions that prices for hockey equipment could see a substantial increase. This would come as a shock as the prices for hockey equipment are already astronomically high.
CCM sold during partnership with some of the NHL's biggest stars
With the sale, several current NHL players would need to either find a new sponsor or have new higher-ups to negotiate with. Some of the game's best players including Connor McDavid, Auston Matthews, and John Tavares are all sponsored by CCM currently.
After the sale, it will be interesting to see if any of these players have their products changed. Hockey players are usually incredibly particular about their equipment. For example, Auston Matthews is coming off an incredible season where he scored nearly 70 goals. He likely will not want to change his sticks just because the company that makes them was sold.
If the new owners of CCM are going to keep the big stars around keeping the product mostly the same will likely be a good idea. As the new owners eventually take control there will be changes made hopefully those changes made are beneficial not only to the professional players they have signed but the general hockey player at large as well.
Source: House of Hockey
Hockey brand CCM sold: Awful news for hockey players around the world
| POLL | ||
Which brand of hockey equipment do you use? | ||
| CCM | 119 | 41.6 % |
| Bauer | 133 | 46.5 % |
| True | 4 | 1.4 % |
| Other | 30 | 10.5 % |
| List of polls | ||
