With the deadline for binding, second round bids for Reebok less than three weeks away (Aug. 2), four private equity firms are now reportedly the top suitors for the Adidas-owned business. They are Boston-based Advent Intl., Luxembourg-based CVC Capital Partners and New York PE firms Cerberus Capital and Sycamore Partners.

On Friday, the NY Post reported that Authentic Brands Group, which recently filed for an IPO (see separate story), may be out of the bidding due to disagreements with the Three Stripes. Adidas reportedly wants the licensing firm, which intended to team up with Wolverine Worldwide on a Reebok bid, to operate Reebok as a standalone business and avoid laying off any employees at the company. Wolverine has reportedly said it will not bid for the Reebok business alone.

Meanwhile, Adidas will likely offer investors an update on the Reebok sale process during its H1 results presentation on Aug. 5. Reebok global sales were down 19 percent in constant currency in 2020 to 1.409 billion euros ($1.66 billion) on double-digit sales declines in Sport and Classics styles. North American brand sales fell 17 percent in constant currency to 397 million euros ($467.6 million) on sales declines in Sport and Classics offerings.

Adidas purchased Reebok for approximately 3 billion euros in 2006 as it aimed to expand its U.S. presence.