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Hall of Fame Resort & Entertainment Company Announces Multi-Year Agreement with Cleveland Clinic
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
The Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) has partnered with Cleveland Clinic, designating it as the official healthcare provider for the Hall of Fame Village Sports Complex and Tom Benson Hall of Fame Stadium. This multi-year agreement ensures Cleveland Clinic will offer medical services to event participants year-round. Cleveland Clinic's expertise in sports-related medicine will enhance care at the complex, which is undergoing significant development with over $250 million in assets. Both organizations aim to elevate health services for the Canton community.
Positive
Multi-year partnership with Cleveland Clinic enhances healthcare services at Hall of Fame Village.
Cleveland Clinic brings expertise in sports-related medicine, improving care for participants.
The Hall of Fame Village has over $250 million in assets under management, indicating strong financial backing.
Negative
None.
Cleveland Clinic becomes the official healthcare provider of the Hall of Fame Village Sports Complex and Tom Benson Hall of Fame Stadium
CANTON, Ohio--(BUSINESS WIRE)--
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, today announced it has signed a multi-year agreement with Cleveland Clinic to make it the official healthcare provider of the Hall of Fame Village Sports Complex and Tom Benson Hall of Fame Stadium.
As part of the agreement, Cleveland Clinic will provide medical services to program participants at the Hall of Fame Village year-round. On-site personnel will refer those needing further medical assistance to nearby Cleveland Clinic healthcare professionals. Cleveland Clinic Sports Medicine offers athletes comprehensive evaluation and treatment of sports-related conditions, including surgical and non-surgical options. A tailored plan of care is developed to meet each individual’s needs and goals. The Hall of Fame Village Sports Complex training facility will also include Cleveland Clinic branding.
“Cleveland Clinic is a global organization representing excellence, and we are thrilled that they will now have a direct presence on the Hall of Fame Village campus,” said Michael Crawford, President and CEO of Hall of Fame Resort & Entertainment Company. “As an institution that is always at the forefront of modern medicine, Cleveland Clinic will offer the participants of our events world-class care that reflects the organization’s deep expertise in sports-related medicine. We look forward to working with Cleveland Clinic on many opportunities that exist within our Hall of Fame Village campus.”
Last year, Cleveland Clinic celebrated its 100-year anniversary. In its first century, Cleveland Clinic achieved several medical firsts, opened facilities outside of northeast Ohio and has been repeatedly ranked among the best hospitals in the United States.
“We are excited about this relationship, which comes one year after Mercy Hospital – located near the Hall of Fame Village – joined Cleveland Clinic,” said Paul Saluan, M.D., Director of Cleveland Clinic Sports Medicine Outreach and Education. “We look forward to the opportunity to work more closely with the Canton community and visitors to Stark County, through the events at the Hall of Fame Village.”
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 Cleveland Clinic
Cleveland Clinic is a nonprofit multispecialty academic medical center that integrates clinical and hospital care with research and education. Located in Cleveland, Ohio, it was founded in 1921 by four renowned physicians with a vision of providing outstanding patient care based upon the principles of cooperation, compassion and innovation. Cleveland Clinic has pioneered many medical breakthroughs, including coronary artery bypass surgery and the first face transplant in the United States. U.S. News & World Report consistently names Cleveland Clinic as one of the nation’s best hospitals in its annual “America’s Best Hospitals” survey. Among Cleveland Clinic’s 67,554 employees worldwide are more than 4,520 salaried physicians and researchers, and 17,000 registered nurses and advanced practice providers, representing 140 medical specialties and subspecialties. Cleveland Clinic is a 6,026-bed health system that includes a 165-acre main campus near downtown Cleveland, 19 hospitals, more than 220 outpatient facilities, and locations in southeast Florida; Las Vegas, Nevada; Toronto, Canada; Abu Dhabi, UAE; and London, England. In 2019, there were 9.8 million total outpatient visits, 309,000 hospital admissions and observations, and 255,000 surgical cases throughout Cleveland Clinic’s health system. Patients came for treatment from every state and 185 countries. Visit us at clevelandclinic.org. Follow us at twitter.com/ClevelandClinic. News and resources available at newsroom.clevelandclinic.org.
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.
Source: Hall of Fame Resort & Entertainment Company
FAQ
What is the significance of the partnership between Hall of Fame Resort & Entertainment Company and Cleveland Clinic?
The partnership designates Cleveland Clinic as the official healthcare provider for the Hall of Fame Village Sports Complex, enhancing medical services for event participants.
What services will Cleveland Clinic provide at Hall of Fame Village?
Cleveland Clinic will provide year-round medical services and refer participants needing further assistance to their healthcare professionals.
How much is Hall of Fame Village invested in its development?
Hall of Fame Village currently has over $250 million worth of assets under management.
What type of expertise does Cleveland Clinic offer to Hall of Fame Village?
Cleveland Clinic specializes in sports-related medicine, offering comprehensive evaluation and treatment options.
