A court has approved the terms of an auction of the assets of Performance Sports Group (PSG), the parent company of Bauer and other brands. Investors are invited to bid against a stalking horse proposal by Sagard Capital to take over the company for $575 million. The bids are due by Jan. 25 and the auction process will run from Jan. 30 until the end of February, 2017. The court has approved debtor-in-possession financing of $386 million, maturing on Feb. 28. The deal was reached after negotiations with unsecured creditors, but equity holders feel that many issues are still unresolved.