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Former MS execs buy bowling league

Strike! The Professional Bowlers Association will be purchased by Rob Glaser, Mike Slade and Chris Peters.
Written by Don Clark, Contributor
Chris Peters has finally made bowling's big league -- with help from two other wealthy former Microsoft Corp. executives.

The Professional Bowlers Association (PBA) is expected to announce Wednesday that the league has been purchased by Peters; Rob Glaser, the chief executive officer of RealNetworks Inc. (rnwk); and Mike Slade, the former chairman and CEO of Starwave Corp. The three men, all based in Seattle, worked together at Microsoft.

Precise financial terms weren't disclosed. However, the trio of investors is expected to assume the PBA's debts, which have been estimated at $3 million, and agree to put up $1 million in money for prizes at bowling tournaments.

Peters' interest in buying the league was the subject of a front-page article in The Wall Street Journal on Jan. 14. At that time, the involvement of Glaser and Slade wasn't known, and Peters didn't discuss his plans.

In an interview Tuesday, however, Peters said he hopes to convert the league from a nonprofit organization to a for-profit company, which will make it easier for the group to invest in marketing and other areas. Among other things, the new buyers may offer stock options to PBA members, which now number nearly 3,000.

"I think it's a fantastic deal from a business point of view," Peters said.

Peters, Microsoft's (msft) 105th employee, worked for the company for 18 years and is credited with leading the development of the Excel spreadsheet and other programs associated with the Office suite of programs. He quit the company two years ago and dedicated himself to becoming a pro bowler.

Although he placed third in a Seattle-area bowling tournament last year, Peters' scores never quite measured up to professional standards. He more recently became a co-founder of a holding company for wireless ventures dubbed Ignition Corp.

The sport of bowling, meanwhile, has lost much of its audience to more-fashionable team sports in recent years. But the PBA says it has higher television ratings than the National Hockey League, Major League Soccer or the Women's National Basketball League. Some of the biggest fans are in other countries, including Japan and South Korea.

Peters said a key thrust in revitalizing the league will be to create new connections between television broadcasts and the Web, an area in which Glaser and Slade should be able to help. RealNetworks specializes in technology for broadcasting audio and video over the Web; Glaser, an avid bowler, has installed two lanes in the basement of his company's headquarters. Slade's Starwave, which was purchased by Walt Disney Co., helped launch ESPN's original Web site.

Peters will act as the chairman of the PBA, which will be based in Seattle and will hire a full-time chief executive. Mark Gerberich will remain as the league's commissioner, he said.

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