Going once … going twice … sold, to Adams Golf! | Golf News and Tour Information [Video]

OK, that probably wasn’t the exact wording used, but the fact is Adams Golf won today’s auction for putter maker Yes! Golf (run online via a webcast at the company’s headquarters in Denver). According to those with knowledge of the situation, Adams paid $1.5 million to acquire Yes! Golf’s assets, including its intellectual property.

The future of Yes! was uncertain after the board of Progear Holdings (which did business as Yes! Golf), authorized Francis Ricci, as president and CEO of Yes!, in November to liquidate the assets of the company in the optimal manner. That led to the company filing for Chapter 7 bankruptcy liquidation in United States Bankruptcy Court in Colorado. Court papers dated Dec. 2, 2010 reveal a company bleeding red ink the last three years with losses of $215,942 in 2008, $1,804,713 in 2009 and $1,248,170 this year.

According to those with knowledge of the situation, Adams …