Cherreads

Chapter 205 - Fight for Promotion

January 30, 1996 — The press release announcing Richard's acquisition of Adidas was everywhere: from Handelsblatt, Frankfurter Allgemeine Zeitung, and Die Zeit to Manager Magazin.

Inside the Handelsblatt office, it could be seen that a senior editor had already submitted his content to the editor-in-chief.

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FOR IMMEDIATE RELEASE

February 01, 1996

Maddox Capital Acquires Majority Stake in Adidas

Herzogenaurach, Germany – Maddox Capital, led by British investor Richard Maddox, has officially acquired a majority stake in global sportswear giant Adidas from Bernard Tapie Finance S.A., in a landmark deal valued at approximately 2.8 billion francs ($500 million)

"This is not just a financial investment, it's a long-term commitment to restore Adidas to global dominance," said Richard Maddox in a brief statement. "We believe Adidas is uniquely positioned at the intersection of sports, culture, and innovation."

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