The Company

Sportstowne

This company was a unique indoor sports facility located in Macon, GA which housed various work-out rooms, a sporting goods store, a restaurant, and 3 indoor arenas, including the practice field of the Macon Knights (Arena Football).

The Challenge

The business was suffering heavy financial losses, and was built at a cost well beyond what this market could ever support.  It was an extremely unique facility.

The Process

Equity Partners was hired to sell the business and building and quickly generated three going concern offers.

The Solution

A transaction was negotiated with Christ Chapel (a non-profit), which included a purchase price comprised of cash roughly equal to the other bids, plus a vacant piece of property with substantial equity, plus a large tax benefit (generated by a series of promissory notes that would be forgiven by the Seller over time).  The cash drain was ended, the debt paid off, a substantial tax benefit was generated, and the Seller’s vision for the facility lives on.