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Hall of Fame Resort & Entertainment Company Announces Partnership with Allied Sports
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
partnership
Rhea-AI Summary
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) has appointed Allied Sports as its official agency for sponsorship and media sales. The partnership aims to enhance business growth and attract high-profile brands by leveraging opportunities within the Hall of Fame Village project in Canton, Ohio. Erica Muhleman, HOFV's Executive VP, emphasized the importance of third-party partnerships for revenue generation. The Hall of Fame Village, a multi-use destination, represents over $250 million in assets under management and includes several major construction phases.
Positive
Partnership with Allied Sports expected to drive new sponsorship and media sales opportunities.
The Hall of Fame Village project has over $250 million worth of assets under management.
HOFV's business expansion plans include multiple business verticals and revenue streams.
Negative
None.
Allied Sports will serve as official sponsorship and media sales agency of record
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 selected Allied Sports as its agency of record for all sponsorship and media opportunities.
Erica Muhleman, Executive Vice President of New Business Development/Marketing & Sales for HOFV, stated, “As we continue to expand our multiple business verticals, from the Hall of Fame Village powered by Johnson Controls campus to our presence in the digital media landscape and beyond, Allied Sports will be a key factor in helping us attract first-class brands to partner with our organization. Our focus remains on sustainable growth, and third-party partnerships that offer new sources of revenue will be critical to our evolution. We look forward to establishing a long-term relationship with Allied Sports and the continued success of our sponsorship and media sales efforts.”
Since launching in 2019, Allied Sports has been helping modern marketers accelerate the shift from Sponsor to Storyteller through the agency’s trusted relationships with premier rights holders and content creators across sports and entertainment. Allied Sports will work alongside HOFV’s business development team to create new brand partnerships for its world-class properties and exclusive content.
“We are thrilled to partner with HOFV at such an exciting time for the multi-dimensional sports and entertainment company,” said Greg Luckman, Chief Executive Officer of Allied Sports. “HOFV’s unique offering of destination, media and gaming experiences offers limitless potential for brands looking to leverage the power of professional football across multiple platforms.”
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 Allied Sports Led by a team of industry leaders and backed by a full suite of marketing solutions, Allied Sports is building a new agency model for the future of sports. Our mission is to facilitate best-in-class strategic alliances that set a higher standard of audience engagement for brand marketers, rights holders, content creators and distributors. To learn more, visit www.alliedsports.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.
