Hall of Fame Resort and Entertainment Company Announces Partnership with Major League Football

Rhea-AI Summary

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) has signed a lease with Major League Football (MLFB) for the Ohio Force to play at Tom Benson Hall of Fame Stadium in Canton, Ohio, starting this August. The move is part of MLFB's strategy to establish home markets, with Canton being one of the first locations, due to favorable demographics and community support. The team will be coached by Bill Conley, a notable figure in Ohio football. This partnership reinforces HOFV's position as a key player in sports entertainment.

Positive

• Signing a lease with Major League Football enhances local presence.
• Ohio Force adds to the attraction of Hall of Fame Village.
• Coaching staff includes experienced professionals, raising the team's profile.

Negative

• Dependency on the success of the new football team for drawing crowds.
• Potential financial risks associated with new league operations.

Tom Benson Hall of Fame Stadium on the campus of the Hall of Fame Village to be home turf for local Major League Football team the Ohio Force

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 lease with Major League Football (OTC symbol “MLFB”) to make the Hall of Fame Village powered by Johnson Controls the home of one of its first teams, the Ohio Force, beginning this August. MLFB recently announced Canton, Ohio and Virginia Beach, Virginia – which will host the Virginia Armada team - as its first home markets, with additional details to be announced in the coming weeks.

“We are excited to partner with Major League Football,” said Clint Fetty, Vice President & General Manager of HOF Village Sports. “Tom Benson Hall of Fame Stadium and the Hall of Fame Village are the perfect homes for the upstart Ohio Force as the team establishes its home base in Canton.”

The Ohio Force will be coached by the legendary Bill Conley, who previously spent 17 years as an assistant coach for the Ohio State Buckeyes following a successful playing career. Conley also enjoyed a lengthy and successful tenure as a head coach at Ohio Dominican University, a Division II football program. Other coaches already announced for the League include Terry Shea, Earnest Wilson and Jerry Glanville.

MLFB selected its initial home markets based on a variety of factors, including applicable demographics, strong community support and quality of facilities available, all distinct advantages in the Canton market and 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 MLFB

Major League Football, Inc. (OTC symbol MLFB), headquartered in Lakewood Ranch, Florida, is a publicly traded company operating as a professional football league. Our mission is to provide personal and professional growth opportunities to football players, coaches, trainers, and front office personnel, then, through our original broadcasts, provide those participants exposure to the NFL and other professional leagues so they can advance their careers.

Accredited investors seeking to learn more about MLFB, should go to our website at mlfb.com and click on Investor Relations.

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,” “enable,” “pipeline,” “transition,” “move forward,” “towards,” “build out,” “coming” 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, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors that may affect actual results or outcomes include, among others, the Company’s ability to manage growth; the Company’s ability to execute its business plan and meet its projections, including 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 effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and the Company’s liquidity, operations and personnel; increased inflation; the inability to maintain the listing of the Company’s shares on Nasdaq; and 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/20220606005669/en/

Media/Investor Contacts:

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 lease signed by HOFV with MLFB?

The lease allows the Ohio Force to play their home games at Tom Benson Hall of Fame Stadium, increasing local engagement.

Who is coaching the Ohio Force in MLFB?

The Ohio Force will be coached by Bill Conley, a respected figure in Ohio football.

When will the Ohio Force start playing at Hall of Fame Stadium?

The Ohio Force is set to begin its season in August.

How does this partnership impact HOFV's business model?

The partnership potentially solidifies HOFV's role in the sports entertainment industry and can attract more visitors.

What are the risks associated with HOFV's new lease with MLFB?

There are financial risks linked to the success of the new league and its teams, which could impact HOFV's performance.