GREENS WOLDWIDE INC OTCBB
Back to Headlines | Previous Story
Greens Worldwide Executes Definitive Agreement to Acquire North American Football League
Company to Expand its Sports Holdings and Marketing Platform to Include
HERTFORD, N.C., March 29 /PRNewswire-FirstCall/ -- Greens Worldwide Incorporated (OTC Bulletin Board: GRWW) announced today that it has executed a Definitive Agreement to acquire the North American Football League (NAFL). (www.nafl.org)
. The closing of the transaction is subject to completion of customary final due diligence and delivery of documentation to effect the closing, which is scheduled for no later than April 30, 2006. The NAFL is a developmental football league for colleges and the pros, and has grown from 18 teams in 1999 to over 100 teams operating in 24 divisions. The League has grown to a playoff system and a National Championship which is conducted at the Disney Wide World of Sports Complex in Orlando, Florida.
"The acquisition of the NAFL, when completed, will provide our company with multiple sports platforms in Golf and Football which will provide an opportunity to cross bundle sponsorships between the League and the Golf Tour, delivering more value to our partners" said Tom Kidd, Chief Executive Officer of Greens Worldwide Incorporated. "I am also very pleased that Robert Licopoli has agreed to continue as President and CEO of the NAFL since Robert founded the League and has successfully grown the League to over 100 teams since its founding."
Robert Licopoli, CEO of the NAFL added, "This is an exciting time for the players, team owners, and staff of the NAFL. We feel that GRWW is the perfect organization to help us maximize our market potential. We will continue to provide a level of football for thousands of athletes as they continue to develop their skills or simply play for the love of the game."
About Greens Worldwide Incorporated
Greens Worldwide Incorporated is a vertically integrated sports marketing and management company, engaged in owning and operating sports entities and their support companies and is publicly traded under the stock symbol GRWW. In our continuing effort to develop a more cohesive and synergistic organization, we are structured in a way that allows all of our wholly owned subsidiaries to utilize each other's resources to the greatest extent possible. In addition, the Company's strategic plan is to be able to deliver substantial value by providing multiple sports platforms and media to leverage our partners advertising and promotional dollars, while delivering the finest entertainment opportunities to retain and build customers. For our non-sports businesses, we will utilize the media and promotional benefits of our media platforms in Television, Radio, and Print, together with Internet Television and other like strategic relationships, to grow our consolidated revenues. The Company intends to continue its strategy of acquiring profitable sports organizations and sports related firms, together with other businesses that would benefit from the synergy the Company provides.
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward- looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
Chief Executive Officer
SOURCE Greens Worldwide Incorporated
/CONTACT: Tom Kidd, Chief Executive Officer of Greens Worldwide
/Web site: http://www.nafl.org
CO: Greens Worldwide Incorporated; North American Football League
ST: North Carolina
IN: SPT ADV OTC
-- LAW094 --
1184 03/29/200618:45 ESThttp://www.prnewswire.com