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Adidas Golf Unit Stuck in Bunker as Hainer Decides What to Sell

Adidas AG Chief Executive Officer Herbert Hainer, who in May praised the “strong reception” the company’s new golf drivers were getting from pros and duffers alike, did an about-face Thursday.

The $425 R15 and $300 AeroBurner drivers are, in fact, losing the battle to the competition, Hainer said, in announcing that Adidas will seek buyers for some or all of the company’s TaylorMade business. Now he must determine what the money-losing asset is worth and who’d want it at a time when golf’s popularity has ebbed.