Connect with us

Equipment

Cleveland Golf Sold to SRI Sports

Published

on

Quicksilver Inc. announced the sale of Cleveland Golf today to SRI Sports Limited.

Quicksilver acquired Cleveland 2005 after purchasing the Rossignol Group. Bit by bit, Quicksliver began minimizing Cleveland’s costs and expenditures. In the past year, their stable of high dollar Tour Pros For has been slowly whittled down with only Vijay Singh remaining from their marquee staff. It became clear that Quicksilver was interested in selling Cleveland. Since June of 2007, rumors have been constantly surfacing as to who Cleveland would be sold to. However, today’s announcement that SRI Sports Limited, a Japanese company and parent of the Srixon golf brand came as a surprise to many. The remaining shares of Cleveland golf were purchased by Quicksliver this September and the final total of the sale is estimated to be $132.5 million.

Quicksilver’s decision to sell Cleveland is part of a company wide move to reduce their presence in the hardgoods business. Bernard Mariette, President of Quiksilver said, "We believe this transaction is a key strategic action for our company that will drive immediate value and enable us to reduce both our exposure to the hardgoods space and our degree of leverage." The move appears to be welcome by Cleveland officials as well. Greg Hopkins, President of Cleveland Golf said, "We are excited by the many positive aspects of this deal, including the combination of a great brand in golf with a new organization that is completely and solely devoted to the sport. Significantly, their operating model is set up to anticipate and respond to the seasonality and other specific requirements of the golf market. We believe that this singular focus will benefit the entire Cleveland organization in a number of ways."

Although a bit of a dark horse candidate, it appears that SRI Sports Limited will be a welcome home for the Cleveland brand. "Cleveland has a clear position of dominance in the important wedge market and a fast-growing presence in drivers and irons. We believe that this business will prove highly complementary to our own. We are looking forward to demonstrating Cleveland’s full potential to the market and believe that the business can benefit greatly from our stewardship," said Ryochi Sawada, Chairman of the Board of SRI Sports Limited.

Yet this acquisition has set up an interesting dichotomy within the SRI Sports brand. Srixon USA, also owned by SRI, has recently begun making major headway in the U.S. market, especially in the area of golf balls, where their ZUR line has gained rapid acceptance among Tour players and amateurs alike. Srixon’s club sales have been used as support with golf balls being the main focus of the brand. With Cleveland’s acquisition and their strong line of patents and products like the popular HiBore and CG irons and wedges. The end game for SRI and how Cleveland will fit into their global strategy will be very interesting to watch.

What do you think this sale will have on Cleveland Golf and SRI’s future?  Discuss it in our fourms!

Your Reaction?
  • 0
  • LEGIT0
  • WOW0
  • LOL0
  • IDHT0
  • FLOP0
  • OB0
  • SHANK0

16 Comments

16 Comments

  1. Elico

    May 3, 2008 at 5:09 am

    I am a 48 year old golf beginner (I used to play tennis), and after having tried “normal” irons, I tried Hibore, and now I can play golf!
    So thank you Cleveland Hibore, I do not care about their shape and noise…
    Have you tried an oversized tennis racket? It is the same thing: it helps!

  2. robby

    Apr 9, 2008 at 3:12 pm

    I hope SRI keeps the current sales teams for both Srixon (balls) and Cleveland in place and does not try and combine the sales forces at this time to save a few dollars.One of the brands will suffer.SRI should continue to have two distinct sales forces calling on off course and on course businesses until such time the brands are strong enough to stand on their own..ie Titlist and Cobra.Neither brand currently has enough clout or leverage to make a business buy more Srixion balls or more Cleveland clubs just because you have one rep for both products?

  3. Pingback: Quiksilver brings surf sexy to corn country - Top Stocks

  4. Pingback: Lilly

  5. Quint

    Nov 9, 2007 at 9:40 pm

    I hope someone from SRI reads this and lets the Cleveland name alone. I have been a Cleveland player for years. I have owned TA5s, TA2s, CG4s, and all the woods. It would be a shame for clubs so easy to hit and marketed with PGA tour players to go away. I am glad that SRI has the chance to expand the great name of Cleveland Golf. The Hi-bore driver was a hit and I still use it to this day. Remember SRI, we want to hit the clubs, and wear the hats the guys on tour use. Keep the Cleveland line going! Thanks.

  6. Andy

    Nov 1, 2007 at 4:09 pm

    Srixon did not buy Cleveland Golf. SRI sports bought Cleveland Golf. Huge Difference. SRI and Cleveland are BOTH owned by SRI sports. Srixon therefore DOES NOT own Cleveland. They are subsidiaries of SRI.

  7. Nutzfourgolf

    Nov 1, 2007 at 11:23 am

    How about those people who don’t think Srixon makes great irons??? I play the Srixon irons and left Mizuno to do so…. I also play the new WG-706 wedges – left Cleveland wedges to do so. My Driver is a TM Super Quad and 3 Wood is Titleist – I play what I belive in and what works for me. Srixon is a great brand and make kick ass hard goods not just great balls. My adage is try before you buy…. And don’t knock it before you try it – or if you’ve never hit it! I think the acquisition is beneficial for both companies. I’m sure that alot of folks were surprised that Srixon had the juice to buy another premier brand. Most surprising to me was the fact that Srixon seems to target the niche market and Cleveland targets the mass market. Will be interesting to see how the brand differentiation shakes out… Just my opinion! Keep it in the short stuff!

  8. Anonymous

    Nov 1, 2007 at 12:25 am

    Hibore XL was one of the best selling drivers this year. At times, it is the best selling driver. for those who said that it’s a flop, please do some research before you make such a false statement.

    it’s great that some people like classic shaped drivers, but why aren’t the major brands making them anymore? because classic shape is old technology. It’s simply doesn’t even come close to some of the “modern drivers” from a performance standpoint. If you rather choose a classic driver simply because you’re more used to it, you’re just fooling yourselves!
    a lot of people criticized metal woods(same way that people are criticizing geometry driven drivers) when they first came out, who’s actually using them now? For those who complain about oddly shaped drivers, maybe you should go back to persimmon woods to be truly classic, otherwise, aren’t you just a hypocrite?

    Back to the topic, I can only see good things come out of the merger. I look forward to seeing what both companies will be making in the near future.

  9. uncleboo6

    Oct 31, 2007 at 10:03 pm

    Good move!!! hopefully will help to return to the Cleveland of old!! great wedges solid irons and growing the driver market.It makes sense to marry the two brands (Srixon and Cleveland) to create a stronger market presence to chalenge the big guys!

  10. Juansky

    Oct 31, 2007 at 7:22 pm

    Time to get rid of my Hibore before prices take a dump! Titleist here I come!

  11. Anonymous

    Oct 31, 2007 at 5:57 pm

    Sumitomo Rubber Industries and their division of SRI sports are best known as the premiere market leader, #1 in Japan under the Dunlop/XXio brand. People who believe Cleveland and Srixon will be heavily involved with one another are absolutely mistaken. Although Srixon balls are doing well and gaining momentum, Srixon equipment does not hold a candle to the number of units that Cleveland sells annualy. Cleveland will remain untouched for the forseeable future, and operate as a complimentary brand within the SRI umbrella. They are DOMINATING in wedge share following the release of Zip Groove Products… and for a while this season the Hibore XL was the best selling 2007 driver. It is unfortunate that the sale rumors have created such an opportunity for people to bash the company… because market share wise they are doing quite well. It will be interesting to see what Cleveland can accomplish with a company who understands the seasonal nature of the golf business and hardgoods, especially with some financial backing to expand. Those are three key elements the company lacked under quiksilver…. and thus why a change was needed. I look forward to good things from Cleveland Golf now that they have support from such a huge, golf minded, successful company. Stay tuned… and don’t bash for no apparent reason.

  12. George

    Oct 31, 2007 at 12:25 pm

    Good news for Cleveland, they are in dire need to get a true technology in their equipment. The HiBore was a disaster and
    really thumbed the nose of golfers who love more traditional shapes, plus that sound was unbearable! Perhaps with the technical
    resources of SRI they can leverage more technology and performance from the brand.

  13. Jerry

    Oct 31, 2007 at 10:17 am

    Some of Cleveland golfs older drivers were classics and still played by many, like the 460 comp. If you look at Adams and the new driver 4350 tour, maybe they will go back to that classic shaped head with some major updating and a deep face and upgraded shaft options as many of us still like the classic shapes. I think they can improve sales to the demanding golfer if they continue in that direction

  14. Josh

    Oct 31, 2007 at 10:05 am

    I think it will be great for both Srixon and Cleveland as brands. Srixon golf balls are getting more and more recognition. Plus the new forged irons are beautiful. Perhaps they can focus Srixon directly to golf balls, and start releasing some nice FORGED cleveland irons and such. Something like some gunmetal 701 tours with the CG symbol on the back perhaps???

  15. Derick

    Oct 31, 2007 at 8:41 am

    I wonder if SRI will use cleveland as there club brand and Srixon as there ball brand. Cleveland was really making strides in the right direction as far as club design, were Srixon needs a little help. All and all I think it was a good purchase for SRI and hopefully the customers will see great equipment in the future from Cleveland.

  16. James

    Oct 31, 2007 at 6:38 am

    Does this mean they will start making any decent equipment???

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Whats in the Bag

Patrick Reed WITB 2024 (May)

Published

on

Driver: Ping G400 (8.5 degrees)
Shaft: Aldila Rogue Silver 125 MSI 70 Tour X

3-wood: Callaway Paradym Ai Smoke Triple Diamond (15 degrees)
Shaft: Aldila Rogue Silver 125MSI 80 Tour X

Hybrid: Callaway Apex Pro (18 degrees)
Shaft: Aldila RIP Phenom Hybrid 100 TX

Irons: Titleist 716 TMB (2), Grindworks PR-202 (4), Grindworks PR-101A (5-PW)
Shafts:  True Temper Dynamic Gold Tour Issue X100

Wedges: Cleveland RTX ZipCore (50-10 Mid), Titleist Vokey Design SM9 (56-08M @55), SM10 (60-04T)
Shafts: True Temper Dynamic Gold Tour Issue S400

Putter: Odyssey White Hot RX Pt Customs No. 2

Ball: Titleist Pro V1

Grips: Golf Pride MCC

More photos of Patrick Reed’s WITB in the forums.

Your Reaction?
  • 2
  • LEGIT0
  • WOW0
  • LOL2
  • IDHT0
  • FLOP0
  • OB0
  • SHANK1

Continue Reading

Equipment

John Daly’s $750 custom irons and 10 must-see gear photos from the 2024 PGA Championship

Published

on

Welcome to the 2024 PGA Championship at Valhalla Golf Club in Louisville, Kentucky.

In the last two PGA Championships held at Valhalla, Tiger Woods won in 2000 – when he famously pointed his golf ball into the hole during the historic duel with Bob May – and Rory McIlroy won the 2014 event, basically in the dark on the final hole.

The point is, history shows that Valhalla tends to produce top-tier champions and plenty of drama.

This week at the 2024 PGA Championship, GolfWRX got its first up-close look at what some of the LIV Tour players have in their bags in 2024. We also caught back up with a few PGA Championship legends, such as Rich Beem and John Daly, and we dove into the bags of PGA Sectional qualifiers, too.

In total, we captured 47 different photo galleries this week, including 32 individual What’s In The Bag (WITB) forum threads. Click here to see all of our photos from the event, or continue reading to see my 10 equipment highlights from Valhalla.

1) Brooks Koepka’s new putter

Koepka was previously using a Scotty Cameron T5.5 putter with a slant neck, which he used to win at the beginning of the month in Singapore on the LIV tour. This week, however, he tried a T5.5 with a plumbers neck instead of the slant neck, and it’s immediately going in the bag. According to Scotty Cameron Tour rep Drew Page, Koepka already loved the head, and now finds the plumbers neck a bit more familiar to the blade-style putters he’s used throughout most of his career.

See Koepka’s full WITB here 

2) The lead tape king returns, with putting goggles

Phil Mickelson has always been one of the GOATs when it comes to lead tape usage, so it was no surprise to see his 64-degree custom Callaway wedge slathered with slabs of lead tape on the back.

The big surprise was that lefty was spotted using ProAim putting training goggles on Wednesday during his warm-up session.

The ProAim goggles are helpful to find center lines and ensure proper alignment to the target.

See Phil Mickelson’s full WITB from the 2024 PGA Championship

3) Dobyns’ old-school gamer setup

Speaking of lead tape, check out Matt Dobyn’s old Titleist 718 T-MB irons, which are so loaded with lead tape that the club is nearly unrecognizable.

Respect.

The head professional at Meadow Brook Club is making his sixth start in a PGA Championship, and he’s using a throwback Callaway GBB Epic driver with MOI-boosting lead tape and adjustable weight placements.

As GolfWRX Forum user “InTheBag” pointed out in our Matt Dobyns’ WITB thread, he has the type of setup that makes you want to hide your wallet: “I don’t know Mr. Dobyns, but one look at that bag tells me he can take your money,” writes InTheBag.

Spot on.

4) John Daly’s custom Sub70 irons and wedges

We first saw John Daly using $750 direct-to-consumer Sub70 659-CB irons and TAIII wedges at the 2023 PNC Championship, and he still has them in the bag, but he’s since stepped up the customization on the Sub70 clubs.

Does Daly ever NOT keep things entertaining?

 

View this post on Instagram

 

A post shared by GolfWRX (@golfwrx)

A true showman.

See Daly’s full WITB

5) DJ’s custom putter

Dustin Johnson has always been one to test multiple putters week-to-week, and he has a keen eye for different alignment lines and crowns. This week, he’s opting for a completely gray TaylorMade Spider Tour “T3.0” prototype with a short slant neck.

See the rest of DJ’s WITB from the week here

6) Patrick Reed still rocking GrindWorks irons

Patrick Reed knows his stuff when it comes to equipment, and he’s a prolific tester. Still, however, the GrindWorks PR-101A irons are squarely in the bag after his departure to the LIV tour.

The most notable new addition to Reed’s bag is this Callaway Paradym Ai Smoke Triple Diamond 3-wood.

Click here to see Reed’s full WITB from this week

7) Beem’s Scratch set

Rich Beem, who won the 2002 PGA Championship at Hazeltine National, came to the 2024 PGA Championship at Valhalla with a bag full of Scratch Golf irons, which are loaded with lead tape and equipped with some of the coolest custom ferrules in professional golf.

See Rich Beem’s full WITB here

8) Jon Rahm’s 10-iron

Before going to LIV, Rahm was using a Callaway Apex TCB pitching wedge.

Now, he’s using a Callaway Apex TCB “10 iron.”

He’s also since upgraded to three Callaway Paradym Ai Smoke metalwoods, and fresh stampings on his Jaws Raw wedges. Click here to see Rahm’s full WITB from the 2024 PGA Championship.

9) “Why so serious?”

Tyrrell Hatton, another LIV player in the 2024 PGA Championship field, channels his inner Joker to ask everyone, “Why so serious?

See Hatton’s full WITB here

10) Block’s “Proto” iron, from address

As you probably know by now, Block switched out of his old TaylorMade Tour Preferred MC 2014 irons, and into a full set of TaylorMade’s new “Proto” irons. We’ve already seen the Proto 4-iron in the bags of Rory McIlroy and Collin Morikawa, but this is our first look at the higher-lofted irons in the set.

Here’s a look at the 7-iron from address:

See what GolfWRX members are saying about the Proto irons in our Forums

And, with that, we say goodbye to Louisville, and the second major championship of the 2024 season. We’ll see you next week at the 2024 Charles Schwab Challenge in Fort Worth, Texas after a champion has been crowned.

Until then, don’t forget to check out all of our photos from this week at the 2024 PGA Championship!

Your Reaction?
  • 14
  • LEGIT2
  • WOW0
  • LOL2
  • IDHT0
  • FLOP1
  • OB1
  • SHANK1

Continue Reading

Whats in the Bag

Club Junkie WITB, league night week 5: Another L.A.B. putter arises

Published

on

We will be one quarter of the way through Thursday night men’s league season after this week. BK played much better last week, so he is hoping to continue that success and post another good score.

Here are the 14 clubs that will hopefully win him some skins!

Driver: PXG 0311 Black Ops (9 degrees, neutral setting)
Shaft: Fujikura Ventus Blue 6 X (2024)

3-wood: Cobra Dark Speed LS Titanium (14.5 degrees, set +1)
Shaft: Graphite Design Tour AD IZ-7x

Fairway: Callaway Apex UW (19 degrees)
Shaft: Fujikura ATMOS Tour Spec Blue 8 X

Hybrid: PXG 0311 Black Ops 4h (22 degrees, Flat Setting)
Shaft: KBS Tour Graphite Hybrid Prototype 85 S

Irons: TaylorMade P770 Phantom Black (5-PW)
Shaft: KBS Tour 120 Stiff

Wedge: PXG Sugar Daddy II (50-13 BP)
Shaft: Nippon Modus3 Tour 120 Stiff

Wedge: PXG Sugar Daddy II (56-13 BP)
Shaft: Nippon Modus3 Tour 120 Stiff

Wedge: PXG Sugar Daddy II (60-13 BP)
Shaft: Nippon Modus3 Tour 120 Stiff

Putter: L.A.B. Mezz.1 Max
Shaft: Accra x L.A.B. White

Ball: Titleist ProV1 Enhanced Alignment

Your Reaction?
  • 1
  • LEGIT1
  • WOW1
  • LOL0
  • IDHT0
  • FLOP0
  • OB0
  • SHANK0

Continue Reading

WITB

Facebook

Trending