Elway will seek other sports figures interested in buying ownership stakes in the venture to attract readers, shoppers, and advertisers. Elway said he plans to take the company public soon. Elway will be chairman of the board while Jordan and Gretzky will have seats on the seven-member panel. All three invested an undisclosed amount in the business. Maybe, maybe not.
Advertising is the company's biggest revenue source.
Investors will have to wait and see if these aging stars can bring investors a champion. The deal is one of many taking place globally in the consolidating world of auto manufacturing. The Motley Fool. All rights reserved.