Borg Is Negotiating to Keep Business Solvent

A clothes manufacturing firm owned by former tennis star Bjorn Borg is apparently on the verge of bankruptcy.

After rejecting an offer for new financing because he feared losing control of the company, Borg was negotiating other financing Monday to keep his business afloat.

Borg turned down a $4.6-million offer to buy into Bjorn Borg Enterprises Ltd.

Borg, who won five consecutive Wimbledon titles and six French Open crowns, was estimated to have earned $75 million in prizes and endorsements when he retired from professional tennis in 1983. On his 1986 tax return, Borg stated his personal wealth at nearly $8 million.