SOURCE: Monolith Athletic Club

January 11, 2007 08:48 ET

Monolith Athletic Club Begins Negotiations With the United Soccer Leagues

MARCELLUS, NY -- (MARKET WIRE) -- January 11, 2007 -- Monolith Athletic Club, LLC (PINKSHEETS: MNAB) has entered negotiations with the United Soccer League to return a professional First Division franchise to Syracuse, N.Y. Syracuse was the home of a USL franchise during the 2003 and 2004 seasons before ceasing operations at the end of their second season. "Syracuse was a vibrant market that supported the team on and off the field. It is unfortunate that the management had funding issues from the beginning, which put them in a precarious situation even before the team played its first match," stated Allen LaVenture, Executive Vice President of Monolith.

The initial conversations between Monolith and the league have centered around the desire of both parties to see a strong organization take the helm and bring a team back to Syracuse. Several issues that led to demise of the prior franchise have been addressed and need to be resolved before Monolith can "officially" apply for a franchise. The former team had to work around a nearly decade old "feud" between Onondaga County (owners of the professional stadium) and the AAA baseball team (primary tenant of the stadium). This caused a tremendous amount of additional expense for field conversion, concession revenues, and several other issues that amounted to the club paying essentially double rent. One of the other concerns that affected the prior team was a rights fee for the Syracuse territory that is owned by another USL team. "The league certainly sees Syracuse as a market that works and can be successful if structured properly and many of the financially constricting agreements are restructured or renegotiated. Obviously we are of the same opinion, the market is definitely viable, we as an organization need to put the right type of plan in place, secure proper funding and negotiate deals that create a franchise which can be successful on the field and on the bottom line," added LaVenture.

About Monolith Athletic Club, LLC

Monolith Athletic Club, LLC is a sports and recreation holding and development corporation focused on creating, managing and building strong grassroots community programs through ownership of professional soccer franchises in the United States. Monolith is in its initial development stage. Soccer represents the largest growing participation market segment in the U.S. The growth of the sport on the professional level is predicated on the implementation strong grassroots community involvement programs. It is anticipated that Monolith Athletic Club's primary focus will be on building those programs to support the professional franchises. Monolith's goal is to create a "cultural phenomenon" in the United States similar to that in Europe and around the globe. By bringing the "World's game" to American youth through various athletic and education programs Monolith intends on raising the interest and fan participation level of soccer to compete with the United States four "major" professional sports.

Safe Harbor

This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward-looking within the meaning of the safe harbor provisions of the U.S. federal securities laws. These include, among others things, statements about expectations of future business, revenues, cash flows and capital requirements. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to further develop its business, the company's ability to generate revenues, develop appropriate strategic alliances and successful development and implementation of its business plans, acceptance of the company's services, competitive factors, and other such risks as the company may identify and discuss from time to time. Accordingly, there is no certainty that the company's plans will be achieved.

Contact Information

  • For more information contact
    Allen LaVenture