360 SPORTS, INC. CEO UPDATE
We are excited to announce that we are nearing completion of the 360 Sports Pro Athlete Business Accelerator: 2020 Fund, a new Regulation D 506(c) Private Equity Offering.
The 360 Sports, Inc. management team is in the final stages of launching a new fund as a product within the 360 Sports group of companies. The final draft of the 506(c) Private Placement Memorandum (PPM) and accompanying PowerPoint presentation which describes the 2020 Fund is currently being reviewed by stakeholders. The presentation has been made available on our investor’s portal at 360SportsX.com which can be found at 360sportsx.com/secure/2020-fund
To date, we have shared the PPM and presentation with dozens of stakeholders including the athletes in our accelerator, lawyers working on behalf of the athletes, private bankers, potential accredited and institutional investors, and key personnel within 360.
The purpose of the 2020 Fund is to launch the 360 Sports, Inc. Pro-Athlete Business Accelerator, our new program within the 360 Sports Agency business that provides family-style back-office solutions to active and retired professional athletes who are, or aspire to be entrepreneurs and want to start and scale their own businesses.
“What is a Business Accelerator and how does it differ from a Business Incubator?” you ask…
Business accelerators, as well as business incubators, both provide advice, mentoring, and various forms of support to entrepreneurs whose businesses are in the startup phase. The key difference between the two is that business accelerators, as the name suggests, compresses the timescale for starting up a company by operating as a type of business boot camp. The acceleration period is short and intense aiming to turn the business ideas into prototypes or products ready for the market in just a few months.
The business incubation period is longer as an incubator aims to nurture businesses in their startup phase allowing entrepreneurs to develop their companies at their own pace. The sponsoring organizations involved with both types of programs provide their expertise and support in return for an equity stake in the new businesses.
I’m grateful that professional athletes such as Adrian Peterson, Evander Kane, and Joe Unitas (the late John Unitas’ son), began the process with us. Also, interest in the 360 Pro-Athlete business accelerator is growing every day in the professional sports world.
The management team of 360 Sports created the entire Pro-Athlete Business Accelerator in-house, and although we have kept operations lean, our management team has sacrificed significant amounts of personal time and finances developing the legal documents, the business platform, and content.
If you have any questions about the 360 Sports, Inc. Professional Athlete Business Accelerator, please contact me and I will follow up as soon as possible.
Thank you and we are looking forward to the next stage of growth in 360.
Robert F. Licopoli
360 Sports, Inc.