R4E.L Regulatory News (R4E)

12 Oct 2005 07:00

First Artist Corporation PLC12 October 2005 12 October 2005 First Artist Corporation plc New German Player Agency Signing First Artist Corporation plc, a leading pan-European entertainment, financialservices and player representation group, has today signed a joint ventureagreement in Germany with specialist player agency fair-sport Marketing GmbH. Until today, Germany was the most significant European market not covered byFirst Artist's network of associate agencies. This agreement will see thecompany become a major player in the preparations for next year's World Cup,arranging warm-up games for competing countries and offering the potential forthe group to derive significant revenues from the biggest prize in worldfootball. The agreement is timely, allowing First Artist to use its FIFA/UEFA matchlicences in Germany in a constructive manner to assist the qualifying nationsfor next year's World Cup in Germany. We fully expect that this deal will seethe group retain its presence in that market beyond 2006, arranging pre and postseason games, training camps and tournaments in some of the best facilities inEurope. fair-sport Marketing has a long and successful track record in the industry andwill become the representative for First Artist's players in Germany, such asJesper Gronkjaer, who First Artist recently moved from Athletico Madrid to F.C.Stuttgart. This arrangement is reciprocal and First Artist will manage theagency work of fair-sport Marketing's UK clients including Aleksander Hleb atArsenal. First Artist also announces today the appointment of Craig Sharon as itsexclusive US soccer representative. Mr Sharon is a successful and well-regardedsports lawyer and agent in the USA and will extend our excellent relationshipwith US soccer's governing body (MLS), whilst affording us new opportunities inthat market. We are pleased to announce that today's agreement comes as the group continuesto enjoy buoyant trading across its trading subsidiaries and we remainoptimistic on the prospects for the remainder of the current financial year andbeyond. Commenting on today's announcement, Jon Smith, Chief Executive of First Artist,said: "With the soccer spotlight firmly on Germany in the run up to the World Cup, weare delighted to extend our network of associate agencies to the region. Bothfair-sport Marketing in Germany and CS Sports in the US represent a significantdevelopment of our expanding underlying business, which continues to enjoybuoyant market conditions. The integration of ABG Financial Management and TheFinishing Touch are proceeding very smoothly. We will continue to seekopportunities to grow and diversify the enlarged group through furthersynergistic acquisitions." For Further information: First Artist Corporation plcJon Smith, Chief Executive Tel: +44 (0) 20 8900 1818Richard Hughes, Finance Director Smithfield ConsultantsGeorge Hudson Tel: + 44 (0) 20 7360 4900 Notes to Editors First Artist Corporation plc (FAN.LN) was founded by Chief Executive Jon Smithin 1986. It has offices in London, Milan and the Middle East. Its playerrepresentation division, First Artist Management ("FAM") is one of the world'sleading football management groups and is one of a handful of agencies whosepersonnel hold both FIFA match and transfer licences. FAM is working with otherleading European agencies, senior European clubs and leagues to enhance theposition, reputation and transparency of the football transfer market and inparticular the role of agents. The group joined the AIM market in December 2001. In August 2005, the groupsuccessfully acquired FSA registered IFA, ABG Financial Management Ltd for amaximum consideration of £3 million in cash and shares. In September 2005, thegroup successfully acquired The Finishing Touch (Corporate Events) Ltd for amaximum consideration of £3.36 million in cash and shares. Football todayrepresents 30% of the overall income of the group. First Artist also offers a complete in-house management service with specialistdivisions for Financial Management, Marketing, Media Management, Television/Media Production, Event Production and Sponsorship. The Media/CommercialDivision represents top sporting and TV personalities. First Artist's clientroster exceeds 200 individuals primarily involved with the sports and televisionindustry. This information is provided by RNS The company news service from the London Stock Exchange