Leading sports tourism and community recreation planning firm steps into project finance.
CLEARWATER, Fla., April 3, 2018 /PRNewswire-iReach/ -- Following the 2008 financial crisis, parks and recreation budgets were slashed. New facility developments were put on hold and sports programming budgets were reduced. Demand for new facilities is reaching new levels, according to the Sports Facilities Advisory, a leading consultancy specializing in the youth sports and community recreation industry who were recently featured on the NBC Today Show and HBO Real Sports With Bryant Gumbel. These developments represent billions in infrastructure, construction, and economic impact each year.
After years of pent-up demand for new sport and recreation centers, communities and developers across the U.S. are considering or currently have plans for new sport centers. In many cases, these developments blend tournament and local play in the hopes of attracting out of town visitors, hotel developments, and other economic development initiatives. Others are being planned to improve the health impact, education outcomes, and quality of life in communities seeking to serve and attract residents. As demand for new facilities has grown, so too has the need for innovative and cost-effective financing solutions.
The Sports Facilities Advisory (SFA) announced, today, that it is stepping into the center of new facility financing. With a new suite of finance support services, the 15-year youth sports facility planning company, is now poised to support hundreds of millions in developments in a wide variety of communities throughout the U.S.
The youth sports industry has been predicted by Wintergreen Research and SFA to nearly double in the next several years. SFA Founder and CEO Dev Pathik, says "The demand for financing solutions is vital to improving access to sport for kids' in every socio-economic demographic. When a community is seeking to use sports facilities to support tourism and economic development, improved health impact, improved education outcomes and/or quality of life for residents, the complexity and size of these developments quickly lead to questions about financing options and strategy.
"Through this new suite of finance support services, we are formalizing the delivery methods for the funding phase and bringing our network of proven finance partners, planning experience and operational expertise more directly into the funding phase." says SFA COO and Partner Evan Eleff.
"This includes new strategic planning services that integrates early-stage key strategic alliances, and a comprehensive review of potential funding approaches during the early planning process. It also includes the development of key strategic alliances, formation of public private partnerships, site-locations services which take advantage of special financing programs, and the integration of private sector developments such as hotels, medical lease space, and other recreation offerings to improve the types of financing available to a project."
Eleff went on to say, "Additionally, one key aspect to successful financing is proven management. Financing sources are not interested in one off or first-time management teams. SFA's partner firm The Sports Facilities Management brings enterprise level oversight to the development and operations phases. This allows financing sources to evaluate forecasted performance against actual performance in similar venues."
SFM's Founder and CEO Jason Clement said, "We know that proven success in the development and operations phases are critical to securing financing. Our outsourced management approach and asset management services provide the confidence needed for financing sources to prioritize SFA and SFM projects. SFM currently oversees numerous projects in more than 15 states and has successfully produced hundreds of millions in economic impact. Through this partnership and suite of services, SFA and SFM intend to lead the future of sport and events facility financing."
"We have a number of capital partners ready and willing to invest in the right projects." Comments Eleff. "This shift in focus has us developing strategic partnerships, securing letters of intent for future use, and supporting the government and other incentives necessary to create unique advantage, prior to the time when we present projects to financing sources.
According to the firm, the services can be rendered from very early in the planning process or after feasibility has been reached. The company's signature model Concept-to-Concrete is focused from the very beginning on obtaining project funding. "We're not just planning," says Pathik, "We're planning to fund which is very different in that it requires us to bring strategic partners, incentives, and proven management options into the early planning process."
About The Sports Facilities Advisory | The Sports Facilities Management
Sports Facilities Management, LLC (SFM) and Sports Facilities Advisory, LLC (SFA) are both headquartered in Clearwater, Florida. SFA, founded in 2003, has produced more than $8 billion in institutional-grade financial forecasts for youth and amateur sports complexes, while SFM provides industry-leading, results-driven management solutions for sports, fitness, recreation and event venues, nationwide. For more information, visit: www.sportadvisory.com.
Media Contact: Ashley Whittaker, The Sports Facilities Advisory, 7274743845, firstname.lastname@example.org
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