September 11
King: Colorado Chill Fundraising for WNBA Falls Short
For immediate Release-September 11, 2007
We, Triple Crown Sports, have not reached a satisfactory level of interest from investors to continue to pursue a 2008 team in the WNBA. Barring some unexpected event, we will not have a Colorado Chill entry in the WNBA in 2008. The WNBA and Triple Crown Sports had agreed on a September 15, 2007 deadline to meet the financial criteria.
We completed detailed and extensive legal, staffing, marketing and financial plans that could be accessed in the future. We also are close to finishing our office renovation that would have allowed us to add an additional 20 people for the Chill Staff.
We were able to meet with most existing WNBA teams to discuss many aspects of our owning and operating a team. We believe this process is critical for the long term success of any new franchise. The Budweiser Events Center and the Pepsi Center have both been very supportive of our efforts and we believe they both have an interest in hosting a WNBA team with us or another partner.
In summary, we are not financially qualified to own an expansion team at this time; and that should we become qualified through partnering or growth of our core business, we would still be very interested in the WNBA. We believe the door remains open for us to re-entertain ownership in the WNBA and for other Colorado ownership groups to move forward.
David King
President
Triple Crown Sports, Inc.
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