PFL™ Franchisee Club Team Membership

 “PFL _As We Rise”

Become A Franchise Club Member. What Does It Take?

• Signed NDA
• Pay first installment of application fee
• Complete member application + disclosure documents
• Approval
• Final installment of application fee + membership fee
• PFL Club Team Membership Certificate

FRANCHISE CLUB MEMBER

THE PROCESS

• Membership into the Professional Football League™ shall be limited to 32 member clubs.
• Admission of a new member club, either within or outside the home territory, shall require the affirmative vote of the board members of the League and the Commissioner.

Eligibility

Eligibility of New Members

Any person, association, partnership, corporation, or other entity of good repute organized for the purpose of operating a professional football club shall be eligible for membership, except:

• No corporation, association, partnership, or other entity not operated for profit nor charitable organization or entity not presently a member of the League shall be eligible for membership.
• If any privately held corporation, partnership, trust, or other entity owns or operates, directly or indirectly, any substantial non-football business or assets and owns, directly or indirectly, an interest in or otherwise operates a member club, then:
• The member club shall be held in a separate corporation, partnership, or trust (the “Football Company”) the primary purpose of which shall at all times be and remain the operation of a professional football team as a member club of the League, when such primary purpose shall not be changed, and the only material asset of which shall be the member club.
• The ownership interest in the Football Company shall be held directly by a holding company that shall have no operating business or material assest but only ownership interests in other entities, and the ownership interests in the holding company shall be owned directly by individuals (or certain trusts or partnerships approved by the Commissioner’s office’ and
• The Football Company and all individuals or entities holding a direct or indirect interest in the Football Company shall be subject to all of the League policies and requirements on ownership that the board members and the commissioner may from time to time adopt or apply, including, without limitation, all reporting, audit, ownership, and debt limitation requirements.

Admission Requirements

• Each applicant for membership makes an application to the commissioner describing the type of organization and designated city in which the franchise shall be located.
• Names and addresses of all persons who do or shall own any interest or stock in the applicant, with a statement that such persons will not own or hold such interest or stock for the benefit of any undisclosed person or organization;
• Balance sheet of such company as of the date of organization and a pro forma statement as of the time it shall commence actual operation. A financial statement shall be required from the applicant and from everyone owning an interest in any applicant, including stockholders and partners,
• If applicant is a corporation, a certified certified copy of the Articles of Incorporation, Bylaws and share certificate, if available at time of commencement or completed, detailed statement summarizing the proposed plan of operation and the capital structure thereof shall be furnished;
• If applicant is a partnership, unincorporated association, or other entity, a certified copy of the Articles of Co-Partnership or organization agreement shall accompany such application;
• Names and Addresses of all officers and directors, and
• an agreement that the applicant will subscribe to be bound by the Constitution and Bylaws, Rules and Regulations of the League and any amendments or modifications thereto.

Membership Application Fee

Each application for membership shall be accompanied by a certified check or online payment via credit card for twenty-five thousand dollars ($25,000). (1 person to 15 people)

Upon approval of any application for membership, an additional twenty-five thousand dollars ($25,000) shall be paid to the League within 24 hours of approval.

If any application for admission is rejected or cancelled by applicant, the League shall repay to the applicant the sum of twenty thousand dollars ($20,000) paid by the applicant at the time of such application, less all expenses reasonably incurred in connection with the consideration and investigation of such application to be paid within 48 hours.

Once the application is approved, all monies/payments are non-refundable.

Application Investigation & Certificate

Application for membership in the League, the Commissioner shall conduct such investigation as deemed appropriate. The prospective members will submit the application to the Commissioner for approval, together with recommendations, and such pertinent information. Each proposed member owner or holder of any interest in a membership, including stockholders in any corporation, members of a partnership, and all other persons holding any interest in the applicant, must be individually approved by the board members of the League.

After approval, each member shall receive a Franchise Certificate of Membership signed by the Commissioner and Secretary of the League. Such Franchise Certificate shall not be assignable nor transferable.

The PFL NDA allows you to view all pertinent documents for you to make an informed discussion to move forward. The first installment of the Application fee will need to be paid prior to viewing documents, this will ensure serious inquiries.

More Info: THE TEASER  Next Steps: pfl nda