LAKEWOOD RANCH, FL / ACCESSWIRE / February 8, 2016 – Major League Football, Inc. (OTCQB: MLFB) (“MLFB”, the “League” or the “Company”), a new, professional spring-football league scheduled to kick off in 2016, today provided a Company Update on its 2016 Draft, operations, and financing options.
Presently, the League’s Head Coaches and Staff are completing their review of hundreds of players for inclusion in the final stage of the MLFB Free Agent player draft, which is scheduled to begin on Monday, February 15, 2016. Further, MLFB intends to announce the starting dates for their upcoming training camp shortly after finalizing its team rosters.
On February 5, 2016, Major League Football filed a Form 8-K/A with the SEC disclosing that Clairemont Private Investment Group, LLC (“Clairemont”) had breached its agreement with the Company to invest $20 million into the League. Wes Chandler, MLFB’s President stated, “It is hard to understand the egregious conduct on the part of Robert Queen, Jr, Clairemont’s Chairman, who provided us with repeated assurances that Clairemont would timely close on the agreement. Robert Queen, Jr. was fully aware that the League is effectively ‘turnkey’ right now with coaches, players, staff, equipment, stadium leases and TV contracts all in hand. What is most disturbing to me in his conduct is his failure to recognize the dreams of playing professional football for all of the fine young athletes selected in our draft. His actions indicate a lack of concern for these young men. Had Robert Queen, Jr. simply complied with his promises and representations within this binding agreement with Major League Football, we would not be announcing this news today.”
Fortunately, Clairemont’s financing was not the sole source of planned funding for the League, and the Company is in active conversations with backup fund managers, investment banking firms and private individuals. However, as a direct result of Clairemont’s breach of contract, the League intends to pursue legal remedies against Robert Queen Jr., Clairemont and other responsible parties for its breach.
Over the weekend, the League presented its revised schedule and plans to coaches, staff, broadcasters, and equipment and apparel suppliers. Wes Chandler stated, “The support received from staff, coaches, players and our partners has been outstanding as we move forward to kick-off this spring. They are all aware of the challenging financing environment in which we find ourselves today, and they are willing to continue to support us moving forward. I believe in large part that the need for this league right now, and the desire to be part of something great, is what keeps all of us going right now, including our partners. They understand it’s our responsibility to ensure that each of these young men fulfill their dream to play professional football in our league.”
MLFB also reported that it has draft leases for stadiums and rental proposals in each of the League’s projected cities, and is currently investigating several additional venues in a state that it intends to place a franchise for the 2016 season. The Company anticipates that its inaugural MLFB season will still end well before NFL training camps occur in the event any the League’s players receive invites to a summer NFL camp.
About Major League Football
Major League Football Inc. is a publicly traded, professional spring football league. MLFB is dedicated to creating an innovative, accessible, and fan-owned game, which is scheduled to kick off in 2016. MLFB’s strategically placed spring/summer season will fill a critical need for outdoor football at that time of the year when sports content is in high demand. The league’s teams will focus on emerging markets in select US cities in order to grow the overall popularity of the sport.
For additional information on MLFB’s nationally accessible ticket database and our sponsorship opportunities, go to http://mlfb.fanfurnace.com or call 855-MLF-BTIX (855-653-2849) to sign-up for your tickets now.
For more information about Major League Football, please visit our new website at http://www.MLFBmedia.com.
Safe Harbor
The information posted in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, such as statements about our plans, objectives, expectations, assumptions or future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “estimate,” “plan,” “project,” “continuing,” “ongoing,” “expect,” “we believe,” “we intend,” “may,” “should,” “will,” “could” and similar expressions denoting uncertainty or an action that may, will or is expected to occur in the future. These statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from any future results, performances or achievements expressed or implied by the forward-looking statements. You should not place undue reliance on these forward-looking statements. Factors that that are known to us that could cause a different result than projected by the forward-looking statement, include, but are not limited to; lack of available funding; general economic and business conditions; competition from third parties; intellectual property rights of third parties; regulatory constraints; failure to market and sell team franchises; failure to establish viable marketing campaigns such as televised programming, radio broadcasting, internet websites, and other mediums; those events and factors described by us in Item 1.A “Risk Factors” contained within our latest Annual Report on Form 10-K filed with the SEC; other risks to which our Company is subject; and other factors beyond the Company’s control. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
Contact:
COMPANY
Michael Queen
EVP of Finance
Major League Football
6230 University Parkway
#301 – Lakewood Ranch
Florida, 34240
774.213.1995 ext.1007
[email protected]
INVESTORS
John Mattio
VP of Communications and Investor Relations
Major League Football
6230 University Parkway
#301 – Lakewood Ranch
Florida, 34240
774.213.1995 ext.1013
[email protected]
MEDIA
Nick Athan
Vice President Media Relations
Major League Football, Inc.
6230 University Parkway
#301 – Lakewood Ranch
Florida, 34240
774-213-1995 Ext.1009
[email protected]
SOURCE: Major League Football, Inc.
About MLFB Staff
