By WesternMass-Squash

March 14th, 2008 - Today, the financial industry was abuzz with news that Bear Stearns, a global investment banking, securities trading and brokerage firm, is facing financial difficulty.

Bear Stearns is one of of the leading sponsors of squash in the United States.

According to the Wall Street Journal Bear Stearns’ future is questionable:
"In an unprecedented move Friday, J.P. Morgan Chase & Co. and the Federal Reserve Bank of New York stepped in with emergency funds to keep beleaguered investment bank Bear Stearns Cos. afloat."

Industry sources believe that Bear Stearns may be sold shortly. On Friday, Bear Stearns’ share plummeted from 54.24 to 30.00 (-47.34%).

Bear Stearns is the lead sponsor for the College Squash Association. It is also the title sponsor for the annual Tournament of Champions. 

Will Bear Stearns’ financial issues hurt squash? 

Speculation is that J.P. Morgan Chase may purchase the firm. In the past, J.P. Morgan Chase has been a benefactor of US Squash. In addition, it has been involved with tennis, sponsoring the US Open Women’s Singles Championship.

Only time will tell.

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