Hall of Fame Resort & Entertainment Company Announces Multi-Year, Multi-Million Dollar Agreement with ForeverLawn

Rhea-AI Summary

Hall of Fame Resort & Entertainment Company (HOFV) has entered a 10-year, multi-million dollar agreement with ForeverLawn to be the official synthetic turf partner for the Hall of Fame Village powered by Johnson Controls. The partnership aims to enhance the fields at Tom Benson Hall of Fame Stadium and the Hall of Fame Village Sports Complex. ForeverLawn provides innovative synthetic grass solutions designed for optimal performance. This partnership signifies a commitment to quality and community engagement while aiming to elevate guest experiences at the complex.

Positive

• 10-year agreement with ForeverLawn enhances venue appeal.
• Multi-million dollar deal likely to boost HOFV's revenue streams.
• Collaboration with a reputable brand in synthetic turf could enhance guest experiences.

Negative

• None.

10-year arrangement makes ForeverLawn the official synthetic turf partner of the Hall of Fame Village powered by Johnson Controls

CANTON, Ohio--(BUSINESS WIRE)-- Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, today announced it has signed a 10-year, multi-million dollar agreement with ForeverLawn, Inc.® (“ForeverLawn”), a premier artificial and synthetic grass manufacturer based in Ohio. The agreement will make ForeverLawn the official synthetic turf partner of the Hall of Fame Village powered by Johnson Controls (the “Destination”).

“As an organization that takes pride in the high quality of its events, HOFV is excited to partner with an esteemed brand in ForeverLawn,” said Erica Muhleman, Executive Vice President of New Business Development/Marketing & Sales for HOFV. “As we look towards our future needs, ForeverLawn is the ideal choice to partner with for the synthetic turf on the fields at Tom Benson Hall of Fame Stadium and the Hall of Fame Village Sports Complex, and the rest of our facilities at Hall of Fame Village. Moreover, ForeverLawn joins our roster of world-class sponsor companies supporting the Hall of Fame Village powered by Johnson Controls, who enable us to continue creating one-of-a-kind experiences for our guests to enjoy.”

ForeverLawn offers realistic and innovative synthetic grass solutions that are built on a proprietary technology platform that ensures the quality of its products from the ground up. Its SportsGrass® product, in addition to its associated premium brands, which will be used on assets at the Destination, provides unlimited use, limited maintenance and unmatched performance. It has been manufactured to unique specifications, resulting in a distinct product that eliminates excessive amounts of infill getting into players’ eyes, soft surfaces with too much give, or hard, compacted grass.

“We’re thrilled to invest in our local community in such a tangible way,” say Dale and Brian Karmie, co-founders of ForeverLawn. They continue: “The Hall of Fame Village represents excellence at the highest level, and so does ForeverLawn. As we look to further develop our brand and our commitment to integrity, quality, and innovation, it’s hard to imagine a better venue or a better partner than the Hall of Fame Village. We’re excited to work together and share the vision each entity has to positively impact the lives of others and our community.”

As part of the agreement, ForeverLawn will receive entitlement rights to the Hall of Fame Village Sports Complex, and will work together with the Company to determine its official name. Additionally, HOFV and ForeverLawn will collaborate on other marketing assets.

About Hall of Fame Resort & Entertainment Company
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus. Additional information on the Company can be found at www.HOFREco.com.

About the Hall of Fame Village powered by Johnson Controls
Hall of Fame Village powered by Johnson Controls is a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus in Canton, Ohio. Owned by the Hall of Fame Resort and Entertainment Company (NASDAQ: HOFV, HOFVW), the Village currently has over $250 million worth of assets under management and is one of the largest ongoing construction projects in Ohio. Phase I of the project entailed the construction of the Tom Benson Hall of Fame Stadium, a world-class 20,000 seat, sports and entertainment stadium, and the National Youth Football and Sports Complex. Phase II, currently under construction, will add the Constellation Center for Excellence, the Center for Performance, a Fan Engagement Zone, a Hall of Fame indoor waterpark and a Hilton Tapestry Hotel. Phase III is currently in planning stages. For more information, visit www.HOFVillage.com.

About ForeverLawn®
ForeverLawn improves spaces and communities through innovative synthetic grass solutions. The premium choice for synthetic surfacing, each product is engineered to solve unique consumer needs and desires while maintaining superior standards and natural aesthetics. For more information, visit www.foreverlawn.com.

Forward-Looking Statements
Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as “opportunity,” “future,” “will,” “goal,” and “look forward” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to manage growth; the Company’s ability to execute its business plan and meet its projections, including refinancing its existing term loan and obtaining financing to construct planned facilities; potential litigation involving the Company; changes in applicable laws or regulations; general economic and market conditions impacting demand for the Company’s products and services, and in particular economic and market conditions in the resort and entertainment industry; the potential adverse effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and the Company’s liquidity, operations and personnel, the inability to maintain the listing of the Company’s shares on Nasdaq, as well as those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005409/en/

Media/Investors:

For Hall of Fame Resort & Entertainment Company

Media Inquiries: public.relations@hofreco.com

Investor Inquiries: investor.relations@hofreco.com

Source: Hall of Fame Resort & Entertainment Company

FAQ

What is the significance of the HOFV and ForeverLawn partnership?

The partnership will position ForeverLawn as the official synthetic turf provider for the Hall of Fame Village, enhancing its facilities and likely boosting revenue.

How long is the agreement between HOFV and ForeverLawn?

The agreement is a 10-year partnership.

What products will ForeverLawn provide to HOFV?

ForeverLawn will provide its SportsGrass® product and premium brands for use at the Hall of Fame Village.

What is the potential impact of the agreement on HOFV's operations?

The agreement may enhance operational quality and guest experiences while potentially generating increased revenue.

What is the stock symbol for Hall of Fame Resort & Entertainment Company?

The stock symbols are HOFV and HOFVW.