Sportsline, LLC has continued operations of Sportstowne through a transaction to Christ Chapel Assembly of God, Inc.
Sportsline, LLC – The owners of this unique indoor sports facility hired SC&H Capital to sell the business and building, which housed various work-out rooms, a sporting goods store, a restaurant, and 3 indoor arenas, including the practice field of the Macon Knights of the Arena Football League. The business was suffering heavy financial losses.
SC&H negotiated three going concern offers for the business and building. 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 could be forgiven by the seller over time). With the cash drain ended, the debt paid off, and a substantial tax benefit generated, the Seller’s vision for the facility lives on.