I think you should do some very careful research into just what it is he has to sell.

I did a quick google trip and found trademark by Hurst, subsequent sale to B&M, and a couple of other names tossed in the mix.

It could be your guy is collecting royalties on units sold and doesn't really own anything but that. Royalties can be sold, but it's a place where you'd want a top notch attorney with experience in such sales.

His desire to keep the name alive....eeehhh, I don't think so.