Science & Technology
Science and Technology
Science and Technology
Thu, September 24, 2009
XnE, Inc.: XnE, Inc. Acquires Rights for Minor League Baseball on the Hawaiian Islands
IRVINE, CA--(Marketwire - September 24, 2009) - [ XnE, Inc. ] (
XnE, Inc. and The [ Golden Baseball League ] have agreed to terms for the acquisition of Operating Rights, which would allow XnE to form 4 new teams throughout the Hawaiian Islands. Our 1st team will be located on the Island of Maui and we will throw out the first pitch in the upcoming season of 2010. XnE has signed a lease with the County of [ Maui ] to play at [ War Memorial Complex ] and will announce our new name and management team shortly. We are also in talks with the other Islands regarding securing a Stadium for 3 more teams.
XnE, Inc. CEO Michael Cummings stated, "With our recent acquisition of The [ St. George Roadrunners ] and now with the acquisition of the Hawaiian Island Operating Rights we have achieved two significant milestones just within the past 30 days. With the current acquisitions, XnE will have approximately 5 to 7 teams playing ball within the next 3 years, with approximately $8 to 12 million in revenues, operating at an approximate 10 to 12% net profit. Professional baseball is a business with payroll, leases, customers and vendors; we at XnE will conduct the business by increasing revenues and controlling expenses."
Pursuant to terms of the agreement, XnE, Inc. acquired 100% of the Operating Rights for $800,000 USD. Each team will operate as a wholly/majority owned subsidiary of XnE, Inc. and will hire a President to oversee each operation.
Stay up-to-date with current events by joining XnE, Inc. E-Mail Alert List. Join by e-mailing the following: [ ir@xneinc.com ]
About [ XnE, Inc. ]
XnE, Inc. is part of the "FASTEST GROWING FAMILY SPORT IN AMERICA and that is [ MINOR LEAGUE BASEBALL ]." Over 50 million people attend minor league baseball games each season. In 2004 through 2008, minor league baseball drew more total fans to their games than the NBA, NFL and NHL combined and minor league teams are now in or near 100% of the top 50 US cities.
Minor league baseball appeals to families who appreciate its ability to entertain at a reasonable price. A family of four can go to the game including tickets, snacks and parking for around $40. Minors' average ticket price is $6, Major League Baseball is $18, NBA is over $41 and the NFL is over $50. In a recent survey, 81% of respondents said they want to spend more time with family and 51% said baseball is the way to do it.
About [ Golden Baseball League ]
The Golden Baseball League, presented by [ Safeway, Inc. ], is dedicated to bringing professional independent baseball back to Western North America. Within the next few years, Golden Baseball plans to expand to a 16 team league in North American markets.
The League will play in a combination of City and University owned stadiums and work collaboratively to market professional baseball in each of our communities. The League will allow communities to experience the wonder of America's pastime and give children of all ages their first exposure to the great game of professional baseball.
The League plays in fan-friendly facilities that will provide a fun and safe environment for families. Players will be well integrated into the community and will spend time at schools, camps, business lunches, and local events. With the League's support and encouragement, players will be given the opportunity to improve their skills and move up to the Major Leagues.
FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the Sports and Entertainment industry; the positioning of XnE in the market; ability to integrate acquired companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether XnE can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
