Sports Venues of Florida Issues Open Letter to Shareholders on the Path Forward
TAMPA, FL, February 25, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Sports Venues of Florida, Inc., (OTCMKTS:BTHR) (“Sports Venues of Florida”, “BTHR”, or the “Company”), an emerging leader in the youth sports, family sports entertainment, and eSports markets, issues the following Letter to Shareholders on behalf of the CEO:
First off, allow me to express our heartfelt gratitude for your patience and commitment as we undergo a process of rebirth with a rekindled drive and determination to deliver long-term shareholder value. Today, I want to briefly present the Company’s strategic orientation to better outline the path ahead of us and why we firmly believe it is the right path for BTHR shareholders.
Sports Venues of Florida is, at heart, a real estate development company with vast experience in real estate development and real estate development financing at the executive, board, and advisory board positions. We have collectively completed projects funded in the billions of dollars with decades of direct experience working with local government officials, financial consortiums, and regulators to get large projects done on time and under budget.
We have come together with a unique vision that has, at its core, the development of an integrated family fun sports complex model capable of disrupting the standard model of the standalone “sports facility” with a much more comprehensive experience that includes dining, entertainment, recreational facilities, and lodging.
The traveling youth sports market represents one of the fastest growing niche sectors in the world right now, with analysts projecting a boom over coming years that could add as much as $50 billion in total annualized global spending on youth sports and related goods and services, taking total annual spending on Youth Sports up to $76.5 billion by 2026, according to extensive recent analysis from Wintergreen Research published in December.
We are also developing synergies in this broad segment through two strategic moves: 1. By investing in a unique opportunity to gain a dominant position in the live-streaming of youth sporting events with our LYSN, Inc. (“LYSN”) acquisition (closed last year), and 2. By cultivating joint venture relationships in the eSports sector with the long-term goal of integrating eSports into our Family Fun Sports Complex model.
LYSN was created to give an internet platform for live-streaming all junior and high school sports. We are in the process of implementing a national campaign to link school systems to the LYSN network, while returning approximately 15% of the revenue back to the school’s fundraising efforts to drive future growth at the unit level and continue to consolidate a dominant position in this unique media niche. This will also create a natural highly efficient vehicle for marketing our Sports Complex and eSports offerings to an extremely well-defined target audience. As we have noted, LYSN’s business is expected to produce revenues that exceed $20 million within the first 14-months, post-integration.
We have already begun to engage with local officials in our most favored locations to negotiate the terms of public-private partnership financing before we break ground and begin construction at our pilot Family Fun Sports Complex location. We will also be courting top brands as potential on-site partners for the delivery of goods and services.
In addition, we have already progressed to advanced talks with several potential joint venture partners in the Las Vegas area with established commercial operations in the eSports space.
We will begin to communicate more frequently now that we have put in place a team, strategy, and financial foundation capable of realizing our big picture vision, and set in motion several important processes that accomplish our initial goals.
The exciting steps are all out in front of us now. With that, let me once again express our sincere gratitude for your faith and patience thus far, and we look forward to updating you as coming events unfold.
John V. Whitman Jr., CEO & President
Sports Venues of Florida, Inc., is a developmental stage company engaged in the business of building youth sports and family entertainment complexes. The company plans on building sports complexes ranging from 80-acres to 300-acres that will include both outdoor and indoor athletic competitions. Our complexes will include retail shopping, adult fitness programs, restaurants, hotels and music venues. In addition the company plans on operating a number of subsidiary companies from high tech data management businesses to product and support businesses.
Forward-Looking Statements. This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “seek,” “project,” “model,” “ongoing,” “will,” “should,” “forecast,” “outlook” or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections as well as our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of Sports Venues of Florida, Inc.
For Additional Information Contact:
John V Whitman Jr.,