Global Entertainment Unit Sells $1.25M License Fee for New Hockey Club in Texas
(ALLEN, TX) -- Ice hockey in Texas? You bet, confirms New York Stock Exchange-traded Global Entertainment Corp.
The Tempe, AZ-based company has sold a $1.25 million license fee for the expansion of the 10-state Central Hockey League. The new club will play the 2009-10 schedule from the under-construction $52 million Allen Event Center in Allen, TX
The Central Hockey League is run by one of Global's wholly-owned subsidiary firms. The team signed a lease this week with the Allen City Council.
The $1.25 million license fee will be reported in the company's fourth quarter of fiscal year ending May 31, 2009.
Global subsidiary International Coliseums Company serves as the project manager for design and construction of the state-of-the-art facility. ICC contributes project management revenue over a 22-month period for Global.
The CHL is currently playing its 17th season, with 18 member teams across 10 states. The Allen team will become the eighth active franchise in the state of Texas.
The new Allen facility, with a planned opening for November 2009, will seat 6,235 fans for hockey and will offer additional events that will include concerts, trade shows, family shows, youth hockey, agricultural events and other civic functions.
Richard Kozuback, president and CEO of Global Entertainment Corporation, says his company is "pleased to announce the completion of the sale of the $1.25 million license fee and the addition of an expansion team for the CHL."
Kozuback says the principal owners and operators of the CHL team will offer the Allen community "a quality family entertainment option inside a new ultra modern facility designed by Global's seasoned team of professionals who have designed multiple first-class, multi-purpose events centers that are individualized to meet the specifications for each unique community they serve."
He says Global is "one of the premium builders of events centers that cater to mid-sized communities throughout the nation."