Global Edition

World Golf League signs UK Licensee

11.00am 3rd April 2003 - Corporate

The World Golf League, Inc. has announced Peter Blay, a seasoned sports marketing executive, has joined the WGL team as the primary United Kingdom Licensee. The World Golf League, a three-year-old Florida corporation based in Altamonte Springs, markets a professional golf concept, directly and through licensees in the USA and 27 international venues, which allows golfers to play for substantial prize money in local and regional tournaments culminating with a PGA-style national event.

Mr Blay will head the WGL’s United Kingdom operations and will be responsible for all aspects of marketing the concept. The license agreement is valued at $325,000 in one-time license fees and $8.8 million in royalties over a five-year period. The one-time licensing fee was based upon a percentage of the expected revenue stream to the licensee over a five-year period. The royalty revenue stream is based on a 50% ownership of the territory by the WGL and an average of ½% market penetration over five years. The WGL’s overall five-year marketing plan calls for a 2% worldwide market penetration or 1.1 million members. It estimates the UK alone as representing 3.7 million golfers, the largest golf market in Europe.

Mike Pagnano, CEO of the WGL, commented, “We are delighted to have Peter join our team and spearhead our entrance into the European market. His experience in sports marketing will bring great exposure to our ‘play for pay‘ concept. The WGL plans further expansion in Europe, with licensees in Spain, Portugal, Germany, Ireland, France and Italy. This marks a significant stepping-stone for our company, as Europe represents 11% of the world’s golf population with over 6.2 million golfers. I believe we will be able to achieve our 5 year marketing plan which calls for a 2% worldwide market penetration or 1.1 million members.”

World Golf League www.worldgolfleague.biz

In related news...