In November 1997, Bull Run acquired from Rawlings Sporting Goods Company, Inc. ("Rawlings"), a warrant to purchase, under certain conditions, up to 10% of Rawlings common stock. Bull Run also accumulated additional shares of Rawlings common stock in the open market totaling 5.0% of Rawlings' currently outstanding shares by December 31, 1997, and 10.4% by January 31, 1998. Rawlings common stock is traded on the Nasdaq Stock Market under the symbol "RAWL".
Rawlings, headquartered near St. Louis, Missouri, is a leading supplier of team sports equipment in North America. It offers a wide range of quality products for baseball and softball (gloves, baseballs, bats, helmets, protective gear, team uniforms, accessories), basketball (balls, team uniforms, warm-ups, accessories), football (balls, shoulder pads, protective gear, team uniforms), hockey (sticks, protective gloves, pads) and other sports. The company operates eight manufacturing facilities throughout the United States, Canada and Latin America, as well as distribution centers in the United States and Canada. For more than 100 years, Rawlings products have been recognized as "The Finest in the Field¨".
For nearly 20 years, Rawlings has been the exclusive supplier of baseballs to Major League Baseball, and since 1994, has been the official supplier to all 18 Minor Leagues. It has established a long-standing tradition of innovation in team sports equipment and uniforms, including the development of the first football shoulder pads in 1902, the original deep pocket baseball glove in 1920 and double knit nylon and cotton uniforms for Major League Baseball in 1970. More recently, Rawlings introduced a new power forged aluminum bat and a speed sensing baseball. Since 1958, Rawlings has annually presented the Rawlings Gold Glove Award¨ to the best fielder at each position in the National and American Leagues.
Since 1986, Rawlings has been the exclusive supplier of basketballs for the NCAA Men's and Women's Division I, II and III championship games (including the Final Four¨), and is also the exclusive supplier of basketballs to the National Association of Intercollegiate Athletics ("NAIA"). Since 1987, Rawlings has been the exclusive supplier of footballs for the NCAA Division IAA, II and III championship games, and also supplies the official football to the NAIA.
In September 1997, Rawlings acquired the Victoriaville hockey business which includes the Vic, Victoriaville and McMartin brands for hockey sticks and protective equipment. Since 1996, Rawlings has offered a full line of protective equipment for ice, roller and street hockey.
Rawlings entered into a five year Strategic Marketing Agreement with HCI in November 1997. Under this agreement, Rawlings and HCI will jointly market and sell Rawlings' products primarily through corporate promotions, grass roots events and international programs.